A Big Data Manifesto from the Wikibon Community

Providing effective business analytics tools and technologies to the enterprise is a top priority of CIOs and for good reason. Effective business analytics – from basic reporting to advanced data mining and predictive analytics — allows data analysts and business users alike to extract insights from corporate data that, when translated into action, deliver higher levels of efficiency and profitability to the enterprise.

(Read the entire Big Data Manifesto here, which includes market analysis, technical primers on Hadoop and MPP Data Warehousing, and action items for enterprises and vendors.)

Underlying every business analytics practice is data. Traditionally, this means data created and stored by enterprises themselves, such as customer data housed in CRM applications, operational data stored in ERP systems or financial data tallied in accounting databases. But the volume and type of data now available to enterprises — and the need to analyze it in near-real time for maximum business value — is growing rapidly thanks to social media/networking, sensored and networked devices, both machine- and human-generated online transactions, and other sources. We call this Big Data*.

Traditional data management and business analytics tools and technologies are straining under the added weight of Big Data and new approaches are emerging to help enterprises gain actionable insights from Big Data. These new approaches – namely an open source framework called Hadoop and Next Generation Data Warehouses from vendors like EMC Greenplum, HP Vertica, and Teradata Aster Data – take a radically different approach to data processing and analytics than traditional tools and technologies. This means enterprises likewise need to radically rethink the way they approach business analytics both from a technological and cultural perspective.

This will not be an easy transition for most enterprises, but those that undertake the task and embrace Big Data as the foundation of their business analytics practices stand to gain significant competitive advantage over their more timid rivals. Big Data combined with sophisticated business analytics have the potential to give enterprises unprecedented insights into customer behavior and volatile market conditions, allowing them to make data-driven business decisions faster and more effectively than the competition.

From storage and server technology that support Big Data processing to front-end data visualization tools that bring new insights alive for end-users, the emergence of Big Data also provides significant opportunities for hardware, software, and services vendors. Those vendors that aid enterprises in their transitions to Big Data practitioners, both in the form of identifying Big Data use cases that add business value and developing the technology and services to make Big Data a practical reality, will be the ones that thrive.

Make no mistake: Big Data is the new definitive source of competitive advantage across all industries. Enterprises and technology vendors that dismiss Big Data as a passing fad do so at their peril and, in our opinion, will soon find themselves struggling to keep up with more foreword-thinking rivals. For those organizations that understand and embrace the new reality of Big Data, the possibilities for new innovation, improved agility, and increased profitability are nearly endless.

* Read Wikibon’s comprehensive definition of Big Data by Wikibon CTO and Senior Analyst David Floyer.

(Don’t miss live coverage via #theCUBE and SiliconANGLE from Hadoop World 2011, November 8 and 9.)





 

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