As an introduction, she highlighted what happened on the internet in a single minute (Intel 2014). These included:
These are staggering statistics. What’s more, she explained that by 2017, mobile traffic will have grown 13 times over a 5 year period and there will be 3 times more devises connected to the web than there are people on this planet.
(source of this information: infographic Intel's What Happens in an Internet Minute?)
Once this is contextualized, it’s no wonder that there is a new buzz about BIG DATA. KPMG states that one of the drivers for the adoption of data analytics is “technological advances enabling and fueling big data.”
The problem with this explosion of data from a business point of view is what to do with all of it. Big data is complex, large and unstructured. Tradition analytical methods are slow and cumbersome. Data Scientists have emerged and are helping Companies with rapid and agile insight delivery. Analytical tools are available at point of decision and become integral to running the business.
This move from “Data to Insight”, as Kruger calls it, is the next big challenge for business and typical inhibitors: Difficulties arise when developing a central data pool. There is a shortage of skills and a lack of a data driven culture and management support. And, budgetary constraints also need to be addressed.
(image sourced of KPMG presentation: "From Data to Insight" Sept 2014)
In a Data and Analytics survey, done by KPMG International, August 2013, some leading insights were that:
Kruger then illustrated how business was using Data &Analytics, providing interesting examples, like
Other areas that have benefited from Data & Analytics are:
It is clear that the possibilities are endless when it comes to using big data.
HaldanMES contributes to big data in manufacturing, by giving companies access to real-time and historical data in a way that is clear and easy to interpret. It facilitates immediate corrective action by visualizing losses in the factory. By making this type of information available to everyone in the organization, detailed knowledge and informed understanding is spread from the top levels of the organization, down to the base or shop floor of the company.
Published October 2014, Written by Rob Ermes, Sales and Marketing Manager at Haldan Consulting