Posts tagged ‘big data’

Big Data Makes Its Broadway Debut (Sort of) and Other News

By Mary Ludloff

What a week for big data in the news! Less than two to three years ago, it seemed like big data was the sole purview of “pioneer” companies and industries (like retail and financial services). Today, everyone is writing about it (follow us on @bigdatapbi for the news we come across) and we’ve gone from industry- or research-related “stories” to mainstream press reporting from outlets like the Wall Street Journal, New York Times, and Forbes. But you really know you’ve made it when you’ve taken your metaphorical bow on Broadway.

Full disclosure: I am a theater maven. Love Broadway, love the theater, love going to New York City to see shows. So imagine my early morning pre-coffee surprise when I saw this headline in the Wall Street Journal: Big Data Hits Broadway. Somebody wrote and produced a play about big data? How could I not know about this? Who’s in the cast? Well… not quite! However, the slogan “Conquer Big Data” is on a sign gracing Times Square. As editor Michael Hickins points out in the article:

“As you can see from these roadside signs – one above Broadway in New York’s Times Square district, the other on Highway 101 between San Jose and Redwood City – Big Data has gone from bleeding edge to the edge of the highway.” (more…)

June 22, 2012 at 4:35 pm Leave a comment

Big Data Hype, Supernovas, McKinsey’s Latest Survey, and AIIM’s Digital Landfill Dive

By Mary Ludloff

A few years ago, Terence and I were trying to get our arms around the world of big data and how to effectively communicate its size and challenges as we were talking to analysts, media, prospects, partners, and, of course, the venture community. Hopefully, most of our readers would acknowledge that we have a fine grasp of language (we like to engage in a Scrabble battle of wits upon occasion) but I must admit that we have been eclipsed by many in the race to illustrate just how “big” big really is. My favorite is this:

“We are engulfed by a supernova of data.”

Now, Webster’s defines supernova in two ways:

“1: the explosion of a star in which the star may reach a maximum intrinsic luminosity one billion times that of the sun or 2: one that explodes into prominence or popularity.”

(more…)

June 6, 2012 at 9:15 am 2 comments

Privacy Identity Innovation (pii2012) Wrap Up—It’s All About Trust and Transparency

By Mary Ludloff

I have purposely given myself a week to reflect on pii2012 before blogging about it because there was a lot of information to absorb. As I look back on the conference, two themes come to mind: trust and transparency. Where to begin? Well, as Jim Adler (@Jim_Adler) tweeted:

“#pii2012 is the best collection of geeks, wonks, and suits.”

This was a conference chock full of interesting ideas, opposing views, and, at times, heated debate. One of the most interesting panels featured four people from very different backgrounds and points in their lives discussing the effect social media and the digital world has on how they conduct themselves online. There is a great post by Marina Ziegler (@Marina_Z) that covers it in depth, but like Marina, I felt that this was the key takeaway:

“The panel, while made up of experts, provided some very direct and honest understanding of how the average person is unaware, and how there is still work to be done in helping average folks understand how to navigate their social online lives, even down to the applications they use online.”

(more…)

May 26, 2012 at 5:21 pm 5 comments

Getting Into a Privacy Identity Innovation (pii2012) Frame of Mind: Will We See You There?

By Mary Ludloff

As you all know, privacy is one of my favorite topics. And when you’re talking or blogging about privacy, it almost always comes back to personally identifiable information (pii) which just happens to be the focus of the Privacy Identify Innovation Conference that will be held in downtown Seattle, May 14-16 (otherwise known as pii2012). Natalie Fonseca (@TechPolicy) is the co-founder and executive producer of the conference (now on its “third edition”), and she has assembled a group of speakers and sessions that make privacy-geeks (like myself) giddy with anticipation:

pii2012 Seattle will explore how to protect sensitive information while enabling new technologies and business models. The focus isn’t just on ensuring regulatory compliance. It’s about developing a forward-looking, strategic approach to avoiding risk while advancing innovation.”

(more…)

May 11, 2012 at 11:30 am 4 comments

Big Data is Coming of Age in the Capital Markets—Wall Street and Technology’s Deep Dive into “Everything You Need to Know to Unlock Big Data’s Secrets” is a Must Read for All

By Mary Ludloff

In the “it’s a small world” category while we were in the midst of launching FinancePBI, the first financial services big data solution built for the cloud and designed to address the needs of the industry, Terence chatted with Melanie Rodier (@mrodier), a Senior Editor at Wall Street and Technology. The topic: big data and the capital markets. That 33-page report is now available and it’s a must read for anyone interested in big data and business.

Why a must read for all? Well, similar to the McKinsey report on big data in 2011, Wall Street and Technology’s big data deep dive covers a lot of ground that applies to any business or organization. In other words, specific industry requirements may be different but big data technology and process challenges are very similar. For example, Wall Street firms—like so many others—find themselves dealing with unstructured data from a variety of sources, including the web, social media, and mobile devices. While there’s value in that data, there are infrastructure issues and a looming talent shortage. Sound familiar? (more…)

May 3, 2012 at 6:41 pm 1 comment

Big Data Tools Need to Get Out of the Stone Age: Business Users and Data Scientists Need Applications, Not Technology Stacks

By Terence Craig

Things have been crazy at PatternBuilders recently. The excitement and positive reactions to FinancePBI, our Financial Services big data analytics solution, from media, analysts, venture folks, cloud infrastructure partners, and users has been amazing.  Our new cross industry graphical big data correlation mashups are generating a lot of excitement as well—we like to call this feature Google Correlate on steroids. Check out how our newest partner analytics consultancy, InsightVoices, has used it to find relationships between stock prices and traffic sensor data.

Mary’s recent post on Strata West 2012 provides a great overview of how hot the hype cycle around big data has become (while managing to work in a plug for her favorite gory TV series as well). In case you’re still not convinced, here are some additional nuggets:

  • The market for big data technology worldwide is expected to grow from $3.2 billion in 2010 to $16.9 billion in 2015, a compound annual growth rate (CAGR) of 40% (hat tip to IDC).
  • The amount of big data being generated continues to grow exponentially, now being expected to double in two years. This is largely driven by social networks, smartphones, and really cool IP-enabled devices like the Fitbit and this IPhone-based brain scanning device by our new Strata buddy Tan Le at Emotiv Lifesciences. Yes, she is much smarter than us but we like her anyway!
  • The White House is even doing its share, investing $200 million a year in access and funding to help propel big data sets, techniques, and technologies while giving a shout out to our friends at Data Without Borders.

(more…)

April 18, 2012 at 2:34 pm 5 comments

Big Data: Either Embrace It or Be Among the Walking Dead (Thoughts on Strata West 2012)

By Mary Ludloff

I’ve been meaning to blog about Strata West for the last week or so but felt the need to take a step back and look at the conference objectively. Of course, we’ve also been very busy at PatternBuilders working on our latest release (where correlation is the king and financial services is the queen or vice versa), engaging with potential partners and customers, and all the other activities that make up a startup’s life. In other words, during and after the conference we’ve barely been able to catch our collective breath (as well as get some much needed rest)!

So before I talk about the conference as a whole as well as some of the sessions and folks that caught my eye and of course, our book signing event (yes, Terence and I signed many books for conference attendees), I wanted to give a final shout out to our stellar Big Data and SCM panelists: Lora Cecere, Pervinder Johar, and Marilyn Craig. Thank you all for participating and for taking on this very broad topic! Much ground was covered, including the need for more rigorous cold chain management to ensure the efficacy of drugs, the amount of food that is spoiled and thrown away (one out of every three fruits and vegetables and two out of every five chickens) due to poor logistics management, and how big data can be used to transform the auto repair industry. What I loved about this panel (and yes, I am admittedly biased) was that it focused on real world problems that companies, industries, and societies are dealing with today. By the way, our panel was part of Strata Jumpstart—billed as the missing MBA for Big Data and it certainly lived up to its billing! (more…)

March 15, 2012 at 6:20 pm 1 comment

Big Data and Cloud not a fit? Comments on Infoworld Article

By Terence Craig

Since Disqus seems to have completely eaten (bleh) my comment on @davidlinthicum’s very interesting InfoWorld post – Big data and the cloud: A far from perfect fit, I decided to just expand my comments and make a short blog post out of it. IMHO the problems that David is describing are more a reflection of problems with batch oriented technologies like Hadoop (more on my take on Hadoop here) in the cloud than a general problem for cloud based big data solutions.

Computing always has, and probably always will have, a bias towards creating batch focused technologies at the beginning of any large paradigm shift.   But as new technologies are absorbed, understood, and move from early adopter to more mainstream use, the batch paradigm will inevitably start to shift to streaming and real-time. We have seen this again and again (from punch cards to touch sensitive tablets, downloaded media to streaming media, DOM to SAX parsers, HTML to Ajax, paper maps to real-time GPS). The reason this evolution almost always occurs is simple: humans live and think in real-time and when our tools do as well we are more productive and happier.  So why do we have this bias for batch processing in our first generation computational technologies? Simply put, because batch processing is a lot easier.

(more…)

February 23, 2012 at 3:01 pm Leave a comment

See You at Strata West—Don’t Miss Our Panel on Big Data and Supply Chain Management!

By Mary Ludloff

While Terence and I and the rest of the PatternBuilders team (and they are all a wee bit tired) have been busy working on the launch of our new financial services application, FinancePBI, I had to take a break to talk about our upcoming Strata Conference panel. No, the panel is not about privacy and big data (good guess though and a golden opportunity for me to plug happily away). Instead, we decided to take a look at big data and supply chain management.

Did you know that manufacturers store more data than any other sector? That would be almost 2 exabytes in 2010. And that the data comes from all kinds of systems? Including process control, CAD, CAE, supply chain management, and all the way through the global supply chain to systems that monitor and capture data about the performance of products that have already been sold. Did you know that a Boeing 737 generates 240 terabytes of data on ONE cross-country flight? And all of this data is expected to grow exponentially. Take RFID for example: McKinsey predicts that the number of RFID tags will increase from 12 million in 2011 to 209 billion in 2021. (All stats courtesy of my dear friends at McKinsey in their report, “Big data: The next frontier for innovation, competition, and productivity” but there are also two great videos on this topic at The Tribulations of an Analytical Mind.) Yes folks, welcome to the big data world of SCM! (more…)

February 22, 2012 at 1:24 pm 1 comment

McKinsey Study: Location, Location, Location, Part 2

By Mary Ludloff

Greetings one and all and happy new year! As promised, part 2 of my post on McKinsey’s drill-down into the tremendous benefits location data offers to new businesses (and business models) as well as to all of us. If you need to refresh your memory (since the author was a wee bit late in meeting her stated publishing date), part 1 is available here.  Certainly, the report, “Big data: The next frontier for innovation, competition, and productivity,” is chock full of illuminating ways that big data can be leveraged within specific industries, but personal location data is a somewhat different beast as it cuts across  industries. For example, telecom, retail, and media (through location-based advertising) all stand to reap tremendous rewards.

Now, as I said in part 1 and will state again in part 2: I have a bit of angst around the collection and use of personal location data (see my many posts on privacy or our book on “Privacy and Big Data”). But that does not negate what can be gained if it is properly collected and used and with the appropriate regulations and guidance in place (my gosh—I am beginning to sound like one of the privacy policies I hate to read!). Put simply: all company’s data collection and usage policies should be clearly stated and always offered on an opt-in basis. Okay, privacy issues have been dealt with so let’s move on! (more…)

January 9, 2012 at 8:23 pm 2 comments

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