The Missing Link and Value of Big Data
What is the missing value of Big Data? Most Data Experts knows the answer but questions still remains, how they do it, is that the best way to do it? To find the missing value of Big Data let's dig it down. Almost everyone can agree that big data has taken the business world by storm, but what is the missing value of this data-driven business?
To those who are not familiar yet with Big Data. In my understanding, Big Data is umbrella term for a massive amount of information from different type of sources that ordinary IT, computers and analytic's cannot handle. From people sentiments, social networking, videos, pictures, documents, reports, blogs, news and so on. There are also data coming from different type of sensors from wearable technology like smart watch to automation like self-driving cars, GPS, drones, weather prediction, connected appliances, aviation air traffic management, healthcare real-time analysis and a lot more. Everything now are connected online and most of the technology and innovation are all based on gathering data to analyst real-time situation, find patterns from previous events and predict what will happen so they can create solutions or prevent the problem not to take place. And the core engine for all of this IoT is called "The Analytics of Things" (AoT), this AoT can somehow change how people do business and run our society.
Big Data or data-driven analysis is a must if you want to be competitive on any type of business or creating a new solution to problem. Finding the missing value of Big Data is considered the gold mined for innovation to businesses, organization and individual. 2016 onward will bring us new big opportunity from Machine Learning (ML), Internet of Things (IoT), Artificial Intelligence (AI) and Virtual Reality (VR). Everybody are excited to see innovation to those categories and Big Data play a very big role. We’ll learn how to extract the data from them for analysis and where best to locate the analytics. We’ll learn what kinds of analytical features and functions are most helpful. For now, it’s just useful to remember that the Internet of Things is only useful if those things are very smart, and that only happen through the Analytics of Things (AoT).
Let me give you one example that we are now living on datafication era, after communication and automation. One example and the most important concepts to understand about the future is robotics — when robots are connected in the cloud, they can share data about their experiences, and in doing so, dramatically accelerate how quickly they learned in the real world. The most profound example of this is in autonomous vehicles. The cars are constantly uploading their driving data (from all of their sensors) to the cloud so that the whole system can learn from every individual car on the road. For example, if one car avoids a new obstacle in the road, immediately all other cars know what that obstacle looks like and how to avoid it. read article
You can also check here some of the latest inventions that show your living now in the future of data-driven society. Almost everything now is manageable and almost possible.
Big data is no longer suffering from the lack of tools, but to make it all usable and manageable you just need to find the missing link, the best people and if I said best people what I mean is the real one. The people who are above all, the inventors, the innovator, the problem solvers, the thinkers, the people who can think not only inside the box but outside the box not only people who knows how to analyze and read data but people who can solve problems. Data volumes will continue to grow and it's everywhere, there's absolutely no question with that and we will continue generating larger and larger volumes of data, specially considering the number of Internet of Things (IoT) and Internet users are expected to grow exponentially. The ways we analyze data will improve thru technology but the real missing link here is the people who can simplify information, make it more valuable and can create real solutions and think outside the box.
One of the researcher point out that Analytics is a key driver for Digital in 2016, "Analytics continues to play an important role as organizations look to adopt digital into main stream processes." All companies need to be a data-driven businesses now. More companies will attempt to drive value and revenue from their data. Using data will see $430 billion in productivity benefits over their competition not using data by 2020 according to International Institute for Analytics.
To make the conversation short, we need real smart individual who can create real solutions and make things possible out of data lake thru algorithm. A business or organization that could really connect all the missing dots. Huge volume of information or Big Data is only the beginning and it's going to get bigger and those companies and professionals that ignore it will be left further and further behind.
Chief Data Officer / Specialist
Big Data Global Innovations, Inc.
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"Don't just tell them what you can do, Show them" - Napoleon Hill