by Angela Guess
John De Goes, CEO of Precog, recently wrote an article for TechCrunch discussing how to get the most value from Big Data. He writes, "These days, you don’t have to look hard to find big data. Even a little startup can produce gigabytes a day, and a company the size of Instagram can easily generate 500 terabytes a day. If you’re like many companies I talk to, you’re sitting atop an ever-growing mountain of data, scratching your head and wondering, 'Okay, I’ve got big data. Now what do I do?' You don’t win gold medals just for having data. The real winners are those like Amazon and Netflix that find ways to leverage their data better than the competition. Without a game plan to turn your data into revenue, you may as well scrap your badass Hadoop cluster and the petabytes of data it contains."
"On the other hand," he continues, "if you find ways to use that data better than your competition, you just might join the ranks of the big (data) boys like Amazon and Netflix. So, how can you start to turn your data into cash? For most companies, there are two ways they can wield their data assets to create unfair competitive advantages: data-driven processes and data-driven products. In the era of big data, business analysts entering equations into Excel and running ad hoc queries in a SQL database doesn’t cut it. The new era demands a new breed of intrepid data explorer, one competent at using tools in both the small and big data worlds. Dubbed a data scientist, this next-generation data geek knows enough about traditional BI tools, query languages, statistics, and machine learning to be considered armed and dangerous."
photo credit: lumachrome