Wired Journalist Gary Wolf once commented: “People are saying, ‘Big Data is the new oil.’ He has a point! 2014 has been a fantastic year for data science and Big Data as a whole. Big rounds of funding, non-stop mergers and acquisitions, most “wanted” skills on the market etc.… all indicators were positive. 2015 promises to be flourishing but will it indeed?
This week’s compile is about Big Data: next steps for the year to come, highlights from the CES (Consumer Electronics Show) show in Vegas, data analytics, the Internet of Things data problems and an interesting take on “Homo Analyticus” the primitive analysts.
1. Data Analytics Spurs Growth and Innovation
By Karen A. Frenkel, published on CIO Insight
Data analytics is having a positive and widespread impact on the modern economy, spurring innovation across companies of all sizes for the benefit of customers, according to a new survey conducted by Ipsos Public Affairs on behalf of BSA/The Software Alliance. Companies are using data tools to create new products, serve customers, add jobs and move into new markets. Moreover, the survey finds this trend “hugely beneficial for customers, the economy and society at large.” “It’s not just technology companies that are taking advantage of data tools to innovate and grow—it’s companies of all types and sizes across the entire economy,” says President and CEO Victoria Espinel of BSA/The Software Alliance. Read on to discover (rosy) forecasts for data analytics.
2. The Internet of Things has four big data problems
By Alistair Croll, published on O’reilly Radar
The Internet of Things (IoT) has a data problem. It needs data and a lot. Big data and the IoT are two sides of the same coin. The IoT collects data from myriad sensors; that data is classified, organized, and used to make automated decisions; and the IoT, in turn, acts on it. It’s precisely this ever-accelerating feedback loop that makes the coin as a whole so compelling. Alistair Croll discusses the four challenges IoT is facing: 1) Nobody will wear 50 devices 2) More Inference, less sensing 3) Datamandering and 4) Context is everything.
Larry Allen shares insights on his CES experience claiming that, this year, we will see companies moving from using big data to capture information to looking for ways to make that data even more useful. It is interesting to note that by 2018, it is predicted that the CMO will spend more money on technology and application of big data than the CIO. Why is this important? What are the factors coming together that are changing the way we should think about big data?
“Just to have some fun” Cokins takes the position that some statisticians and analysts are primitive Homo Analyticus. Just as with humankind there are overlap periods where primitive statisticians co-exist with more sophisticated ones with more capabilities and skills. This implies they have evolutionary steps in their future. What Cokins is actually suggesting is that some analysts have yet to evolve to fulfilling their potential to be truly creative and imaginative. See if you associate with this theory…
https://www.verix.com/wp-content/uploads/2016/02/Jan-15-2015.png300670Gili Keshethttps://www.verix.com/wp-content/uploads/2021/03/Growth-Science-45.pngGili Keshet2015-01-15 10:40:552017-02-02 12:55:565 Trending Big Data Articles of the Week