Mind the data gap

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mindthedatagapWith the cost of computing and managing data going down every year, your organisation is able to capture and store increasing amounts of data. At the start of computing we were optimising applications and data storage to gain bytes. Nowadays, we have the ability to store TBs. Given the shift in cost per TB the type of data that is kept moves from the formally recognised business events, such as invoices and orders, to informal events such as GPS locations, website click behaviour, etc. The vast amount of informal events have the potential of generating insight and delivering business value if the proper algorithms are applied to them. With the positions of cell phones we can improve the flow of traffic or with the use of a website we can improve the efficiency of our product MDM efforts by focussing on the fields that seem to have the biggest impact on the buying ratio. Not every company has tapped into this rich source of informal events. Failing to exploit this ever increasing source of insight is the true information value gap.

Forget BIG Data, it’s all about harder to obtain value from data: HOV Data

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At the point your grandmother starts to worry about a new IT term you know that the top of the hype curve might have been reached. The level of hype is proportional to the amount of companies claiming the term and going to market under the banner of which they hope will facilitate the sales process and get the needed budgets. But are all the BIG-D solutions and services really a coherent thing? Clearly not. The velocity, volume and variety dimensions as introduced by Douglas Laney no longer cut it. Since the initial publication of his paper at Meta Group our ability to handle the velocity, volume and variety has increased dramatically through advances in both hardware and software. This proves that the term BIG Data is no more nor less than a commercial label for all kinds of data from which it is harder to get value.