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I guess we should thank the NSA for giving the public a prime example of using big data. Until people see how big data could affect them, the public at large has been mostly ignorant of the concept or how it could be used. While the government is putting big data to work for Intelligence reasons, other companies can use the same type of data for customer intelligence.
Companies use big data in a similar fashion to the NSA--just for less nefarious sounding purposes and more capitalistic ones. The information companies receive from sifting through their transaction history (using big data techniques) is a better understanding of their customers.
Read more: Big Data Comes Home - A Practical Lesson for the Average American on Big Data
Five years ago, the job “Data Scientist” was simply not a title. As the big data phenomenon has gone from idea to hype to reality the need for skill sets that merge computer science, analytics and reporting and statistics has become the keystone of competitive advantage, hence the newly crowned job title. But the title “Data Scientist” might best reflect the job if it were “Data Strategist and Chess Player” instead.
Being a data scientist isn’t just about collecting data, and it’s not just about analyzing data. It’s about using that data to drive industry and organization-specific insights that produce the types of business decisions that keep a company growing and thriving in the digital age. Data 2 Insights is the holy grail of data driven business.
Read more: Data Scientists – Driving Decisions that Scream "Checkmate!"
Data governance is defined as management of data to validate for accuracy as per the requirements, standards, or rules that an individual organization needs for their individual business.
In my role of delivering Utopia solutions for customers I have observed companies that have implemented and are still implementing high tech ERP systems and applications to manage their business processes. These organizations are very capable of running a business efficiently but not always as well-versed in ensuring the usability and integrity of their data for the long term.
Read more: Data Governance Benefits for Today and the Long Term
One of the ways to build a business case for Master Data Management (MDM) and Data Governance (DG) at your company is to align your master data to business process optimization initiatives and decision-making reporting across the organization. For example, if your CFO is looking to reduce days sales outstanding (DSO), consider reverse engineering from the invoicing and ‘Order to Cash’ processes to the data the processes execute against. Here’s why: every day of DSO reduction will translate to millions of dollars in operating capital and cash flow… this will get your CFO’s attention.
A highly important component of a data quality strategy is data monitoring, which is the measuring, analyzing, and reporting on the data through a consistent and scheduled process. Data monitoring employs a process known as data profiling and assesses defined quality measurements and delivers them as early warning indicators to the data consumers.
Read more: Could Aging Data Be Corrupting Your Business Processes?
Poor business decisions are often the side effects of three costly big data complications - the latency (delays) of infrastructure, data corruption and not asking the right questions of the right data through your reporting. This leads to less than optimal business performance, affecting stock price, return on assets (ROA), return on equity (ROE), debt ratios and shareholders.
With the data experts from the Utopia team all gathered in Orlando, Florida for the 2013 SAPPHIRE NOW + ASUG Annual Conference, it is the perfect opportunity to sit them down and ask them a few questions about how data impacts companies in the most basic and yet dramatic ways.
Today I went in search of answers about data governance. After all, if you've put a great deal of effort into getting your company's data clean, you don't want the work to go to waste by not keeping it clean. To answer my questions, I found Bill Meinweiser, Senior Delivery Lead, Data Governance- Americas. Bill was kind enough to give me a big picture look at this buzz word that's floating around SAPPHIRE.
Read more: Talking to the Experts Live at SAPPHIRE NOW 2013: Data Governance
With the data experts from the Utopia team all gathered in Orlando, Florida for the 2013 SAPPHIRE NOW + ASUG Annual Conference, it is the perfect opportunity to sit them down and ask them a few questions about how data impacts companies in the most basic and yet dramatic ways.
This morning I spent some time with Jeff Barash, Director of Solutions Consulting at Utopia, to talk about big data, what it can do and how to approach it. A hot button issue at this year's SAPPHIRE NOW and a topic everyone will continue to discuss even after they leave Florida.
Read more: Talking to the Experts Live at SAPPHIRE NOW 2013: Big Data
With the data experts from the Utopia team all gathered in Orlando, Florida for the 2013 SAPPHIRE NOW + ASUG Annual Conference, it was the perfect opportunity to sit them down and ask them a few questions about how data impacts companies in the most basic and yet dramatic ways.
First up, Jeff Knotts, Director of Solutions Consulting at Utopia, spent some time talking to me about data migration (DM) projects and the best practices and considerations that should be top-of-mind when initiating these projects.
Read more: Talking to the Experts Live at SAPPHIRE NOW 2013: Data Migration
Big Data is hitting enterprises at a time when we see the confluence of a number of other revolutionary changes, such as social networking, smart grid, smart sensors, GPS and smartphone location information. All manners of real-time data streams are adding to the volume, velocity, variety and complexity of the torrent of data coming into companies.
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