13 New Business Models Created By Big Data

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.

Content and document handling algorithms are needed to handle unstructured content as well as structured content with unstructured being as much as 80% of an enterprise's content. The volume of Big Data is on an increasingly upward trend.

Here are some examples of ways businesses are enabling creative, innovative new business models by leveraging the power of big data:

  • BANKING/CREDIT - loan approvals in seconds, flexible rates based on live market data
  • FINANCE AND CONTROL - profitability analysis, in any dimension, on Big Data, all in seconds
  • HEALTHCARE - real-time diagnostic monitoring analytics (improve service, predictive healthcare)
  • MANUFACTURING - text analytics to help identify product defects (prevent big business problems)
  • OIL & GAS - streaming sensor data monitoring
  • PHARMACEUTICAL - analytics for on-demand clinical trial management (speed time to market)
  • PUBLIC - transportation and traffic analysis from GPS data (helps keep the city running)
  • RECALLS - real-time monitoring of safety data instantly triggering a recall event
  • RETAIL - balancing point-of-sale (POS) data against production and logistics to minimize inventory
  • RETAIL - capitalize on trending sales data - as it happens, using POS analytics to set pricing, create promotions in minutes, by region, by demographic, even create mirco-promotions
  • RETAIL - social media analytics and reporting, to set campaigns and promotions based on trending patterns and predictive analysis
  • TELECOM - improve customer service and satisfaction via call detail records (CDR) analytics
  • UTILITIES - smart meter analytics (optimize rates, load-balance the grid, offer discounts)

Reasons to Adopt SAP HANA in the Cloud with Hadoop

SAP HANA in the Cloud with Hadoop provides the speed of in-memory computing and the scale of parallel processing, bringing together fast reporting in SAP HANA and large volumes in Hadoop. When you put this in the cloud, you gain speed and flexibility with your big data that was never before possible. There are many business and financial reasons to utilize in-memory, Cloud-based computing with the addition of Hadoop:

  1. Speed to value - Access to servers in minutes versus weeks or months
  2. Costs - Hosted solutions (availability, redundancy, monitoring, decreased cash flow impact)
  3. Functionality - Scalability and elasticity, security, virtualization, computational power, easier backups and restores, shrink on-premise, carbon and cost footprints, repurpose IT resources

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