“Big Data Analytics” in Bangalore – A new Star in the Enterprise Horizon !
Great and rapid increase in Business Data information is set to grow more than 40 times to 35 Zettabytes ( 1 zettabyte = 1, 000,000,000,000,000,000,000 bytes ) by 2020, reports IDC. Add to that the surfeit of data from us, Consumers, (data, messaging, chat etc) and the digital information that we generate & use is mind boggling. It is here that, a new discipline, ‘Big Data Analytics’, promises to deal with the challenges & opportunities even while altering the landscape of Future Business in Real Time. Yes; FUTURE BUSINESS IS REAL TIME. A new star is born.
The scenario we face now is : ” Growing Volume of Data; Collection of Real Time Information from IT Systems; Delivering better insight to Decision makers; Affording a better chance of thriving through the Difficult Economy.” It boils down to “Real Time Data, Real Time Decision Making, & Real Time Business”, according to Dave Loughrey, CIO, of Open Group Systems. Big Data will become part of wider management strategy of companies in future – says Suranjan Som, Head of BI, Management Group. Gaining Competitive advantage; Increasing Revenue; Demonstrating Tangible value will become the norms for what one does with Big Data in the next FIVE Years.
Bangalore, India, is set to witness an INTERNATIONAL MEET under the auspices of IT.biz next week. The Meet could not have at a more appropriate time than this when Business challenges force companies to look for Newer approaches to stay afloat. The meet will discuss the hidden values to be unearthed through cohesive and coherent approach to Information Management. ‘Big Data’ is one of the Top Three IT priorities for Enterprises. A key session in this meet will discuss how to mine and monetize this Big Data. Any discerning Computer Scientist/specialist knows all too well that Traditional Tools like basic Database & Warehouse Management tools cannot process this Voluminous and Complex data. The Session will discuss the NEWER approaches to understanding the Complexity and Making Valuable decisions with New Tools to capture markets. Computer Scientists/specialists are also conscious of the fact that ‘Volume, Variety (structured along with variably structured data), & Velocity’ are the three “V”s of Big Data. The session is expected to focus on the Fourth “V”, i.e the VALUE added.
2013 is the year of experimentation and early adoption for Big Data, says Research V.P. at Gartner, Frank Buytendijk. 92% of companies in a study of 720 Organizations have not taken the initiatives beyond the Planning Stage. Less than 8% of the Organizations studied actually deployed Big Data Technologies.
India deserves to pat itself on its back for being the Early Bird Adopter in Asia of this new discipline/technology. “A study of 430 mid market companies by Forrester Research reveals that 35% plan to invest in the next two years. But only 8% of companies planning have a projected or proven Return on Investment (ROI). Reducing costs is the main focus for 30% while Asset Utilization is 25%.” This is just a straw in the wind. However, clarity regarding the Real Benefits, ROI information, Various approaches to Adoption, & Outcome Ideas – are still lacking in their planning.
Have they yielded too early to the hype surrounding the Big Data? Not many analysts think so; a morale booster for India. The session will, hopefully, deliberate this aspect too. The meet is also expected to discuss Digital Analytics; Cloud Storage; Mobility; R&D; Consumer Electronics; and Industrial Electronics.
Will the deliberations of the Meet be the ‘Goose that will lay Golden eggs’ for all those in the forefront of competition in Business? The session will, sure, lay a course – many believe. I am not au fait with Computer Science but certainly an avid follower of events in this field. Stay tuned for more on this in the days / weeks to come !
20 Oct 2013; 4.45 pm (IST)