dataeconomy

The Economics of Data
Influencer conversations Data Economics: Driving application and business value to your bottom line
   12 years ago
#dataeconomyThe Economics of DataInfluencer conversations on data economics impact on business.
Dave Vellante
Where does Bitcoin fit into the data economy :-)
Tony Pearson
Perhaps we need an "internal" bitcoin for private clouds to purchase VMs and other things needed for analytics ad-hoc
Tim Crawford
Maybe I'm dense (no comment), but I still don't see the value in Bitcoin or what it is based on.
Tony Pearson as with any currency, the value is based on trust of the government or organization that prints it
John Furrier
Bitcoin is a signal of a new way to use technology in a always on connected world - emerging value will find a home no one thought paypal was going to be popular..
Jeff Frick
With Time winding down, be sure to vote, on your favorite posts.
Dave Vellante
Are data scientists necessary to realize the data economy vision? Are they a gate? Can users become data savvy without needing a deep data science conduit
Tony Pearson
Someone has to know what to do with the results. If you had access to a personal home x-Ray machine, you would still need to be a radiologist to make sense of it.
Dan Hushon
I think that there are some basics associated with the definition of an economy/marketplace that are important... instruments, fluidity, exchange, and bookkeeper... critical imo we need the #NYSE for #dataeconomy to grow
Pete Johnson
#dataeconomy Data scientists are critical, but we can't train enough to keep up w demand. Tooling that brings some of #BigData analytics to the everyman is needed like spreadsheets did to # crunching that used to be reserved for accountants
Dave Vellante I'm reminded of the story of biz execs when cars came out - they were fearful there wouldn't be enough chauffeurs! #datascience
Jeff Kelly
potentially. as more analytics-infused applications, users' domain knowledge becomes more important than knowing how to write algorithms. for now, though, most enterprises need someone with data science skill
John Furrier
Data science is critical but more importantly to tell a clear story on the data you need knowledge workers to be the new data science users - democratization of data - oppty to make it easy is a companies oppty #bigdata
IBM Storage
IMO it's not just the scientists that will help. It's the workerbee users that will be vital to the success of how the data is leveraged into something valuable for their organization
Dan Hushon
but scientists are the traders of value in this economy.. but even science = hypothesis, methodology, test, conclusions, repeat... to do this,
Tim Crawford
DS are needed/ valuable until it becomes more commonplace throughout the org. Sign of maturity in data analytics.
Dan Hushon yep, but even when common people need to use scientific method. bad results may be more common than good ones and can you prove the difference?
Levi Norman
If you mean that in the same way that a good DBA is necessary to get the most out your DB's, then they are absolutely necessary. Users can become savvy as the tools to do so evolve, much like the ability to now create your own webpage.
teddickinson
Many will need to step up to help realize the data economy vision, but data scientists must be the thought leaders
Jeff Kelly
as my friend @ab_hi_ said on #theCUBE, you need combination of technical, data science and business domain expertise to truly leverage #BigData http://youtu.be/uIoqFD-jS9Y
vaughn stewart
Would love to chat more about economics of flash but I have to head over to @GreylockVC. I will check out the CrowdChat when I return.
John Furrier
Greylock never heard of them..
John Furrier of course you know I'm kidding they are the best in the valley in top 3 in my mind - they know about CrowdChat @reidhoffman signed up - great firm with big enterprise focus that is solid
Tim Crawford Just busting your hump! :)
John Furrier
I hear @jerrychen is taking over :-)
vaughn stewart
@StorageDavidV i agree throwing flash makes everything faster - but thats not the end game nor sustainable. It has to be affordable, manageable and able to scale.
Jeff Kelly
right storage medium for the right job
Karla Magana Renoud Agree! Flash is not the ONE solution for storage, you need to establish your business objective/need and evaluate the best approach.
John Furrier
scale out and scale up baby!!!
Jeff Kelly
you shouldn't separate business outcome/vale with the technology (and its associated costs) that enables it
David Vaughn
Agreed, the economics have to make sense. The number of environments where the economics point to flash is accelerating.
Guillermina Sainz
Easy w/ automatic migration tools (Easy Tier), it only moves highly frequently used data to high performance storage like flash,storing the rest on less $$ devices
Dan Hushon
A lot of infrastructure conversations... how is risk (security, privacy, provenance) better managed to enable the data economy? and how risky are closed information environments? #unlockdatavalue
John Furrier
Let it free and good things will happen
Dan Hushon not sure that #Free is the answer for enterprises nor economies which are based upon value exchange
Dan Hushon
sure but is free an economy?
Dave Vellante
great question - with new analytics capabilities you can infer a lot about someone - e.g. race, religion, political persuasion...doubt organizations can self-police
Chris Saul
The experience of the internet would suggest that "let it free", while superficially appealing, is not a long term solution
Dave Vellante
can you explain your thinking on closed information environments and risk?
Dan Hushon a lack of a coherent strategy to address risk in effect closes the economic opportunities
Tim Crawford
You can't talk about data and infrastructure alone. Must consider applications into the mix. Can change the dynamics of both dramatically.
Dan Hushon agree fully which is why the #dataeconomy is certainly benefited by infrastructure, but not necessarily driven by it!
Dan Hushon
IMO. we need a marketplace... to enable value exchange, non-repudiation and even a DNS where D = Data to find stuff (ala common financial instruments)
Dave Vellante
Will data value have a "multiplicative effect" - i.e. data creating value for other data? How so?
Jeff Kelly
yes - #BigData becomes exponentially more valuable as you combine data sources -analysis of transactional data + social data for example provides more value than either data source alone
vaughn stewart
Capacity efficient flash provides massive performance along with significant benefits in reducing datacenter requirements for power & rack space.
Tony Pearson
Good point, putting Real-time Compression in front of Flash can provide significant savings!
Dave Vellante help us squint thru the urinary olympics of compression on flash - is it in, on or does dedupe cover it?
Chris Saul Dedupe and compression are really different ways of doing more or less the same thing. Reducing data volume.
Tim Crawford
DC pwr efficiency is huge...but not widely important for IT. It is for facilities. (i.e.: Gap)
Dave Vellante How many CIOs see the power bill - has that number increased in the past 5 years?
Tim Crawford Not nearly enough CIOs are responsible for DC pwr.
Pete Johnson #dataeconomy Power efficiency has a pretty big impact on DC density, though, not just the power bill
Tim Crawford Should have couched that stmt w/ Internal DCs. External Colo brings pwr more visibly to CIO.
Jeff Frick Not only the bill, but sometimes, you just can't get any more power to a legacy location.
Jeff Frick
Assuming costs keep decreasing, how good is Flash for long term / cold storage? What are the concerns, challenges?
Tony Pearson Flash is 300x more expensive than tape, I don't see why anyone would consider Flash for long-term storage!
Jeff Frick beyond cost (which is very important) I was more curious from a technology concern perspective.
Chris Saul Given density and low (or zero) power consumption, this is clearly a direction. We're not there yet and there are some longevity issues but we will get there for sure.
Hans De Leenheer your question does make sense! as silicon requires a lot less power comsumption it could make sense looking at high deduplication on silicon instead of spinning rust for long term. Comparing to a non-random-io model (tape) is not a question IMO
Hans De Leenheer in this there is a diff between long term retention for search and restore or archival for never-to-retrieve again. last part can be done on tape :D
David Vaughn
That's the power of software defined storage. Flash can instantly benefit from any kind of advanced efficiency capability in a software defined world.
Dave Vellante
How important are open APIs to the data economy?
IBM Storage
viewed as extremely important for innovation to meet changing customer demands/requirements
Dave Vellante AWS has turned the data center into an API - I see open platforms (e.g. Openstack) as a way to replicate this powerful concept
Jeff Frick
HUGE, enables access to entire pools / lakes / oceans / rivers of new data to cross correlate and integrate with traditional stores. Tie it with Cloud, and it's easy to capture as well, reducing integration challenge.
Jeff Kelly
critical - the larger #industrialinternet and the potential societal benefits are only possible with open and integrated systems and data http://wikibon.org/wiki/v/The_Industrial_Internet_and_Big_Data_Analytics%3A_Opportunities_and_Challenges
Tony Pearson
Do you mean "open standard" or "open source"? They are not exactly the same thing.
Dave Vellante How about a common API connected to a rich backend platform- e.g. AWS
John Furrier
APIs are the future and table stakes imho and data exchanges will be the next big thing (again)..old win in new bottle
Pete Johnson
#dataeconomy Do closed APIs even exist any more? Saw that all the time in the late 90s, not so much now
vaughn stewart
Capacity efficient flash proxies massive performance along with significant benefits in reducing datacenter requirements for power & rack space.
Dave Vellante
what about the "top line" value of new apps developed for flash - do you see that today or future?
John Furrier
getting more performance while solving density and power/cooling is critical hence big web scale guys build their own
John Furrier
@lleung says http://twitter.com/lleung/status/403216296025661440
lleung
RT @vStewed: @dvellante Move an app from disk to flash & it will run 5-10X faster. Build an application for flash & it’ll run 100X faster #…
3 minutes ago
Sterling Mah Ingui
Using IBM FlashSystem a client deployed new apps linked to their banking services including a CRM-style application that helps in-branch tellers understand the complete relationship with the customer