dataeconomy

Agreed. Video surveillance data provides different analytics resource than POS transactions

I'm not sure different data types is what I would measure by. It's more data usage and purpose

there are so many - more to come perhaps - vizualization, traditional BI, Excel, machine data systems

Guillermina Sainz

Agree, most, if not all, business data has value. That value changes over time and in relation to business mission, goals and operations

Keith A Thuerk I think you and I are on the same wave length. These too will evolve.

So you could postulate an analytics system that used (say) BOTH video and POS data for some reason. Driven by usage of the data and not specifically because those happen to be different data types

David Floyer

In my view, there cannot be one set of analytics that will cover analyzing all questions and all types of data - there will always be a wide set of potential solutions

Chris Saul Agree

Karla Magana Renoud

Agree. Before you can get value, you need to first identify and define the business goal you are trying to achieve. Build your strategy around your business need, and then seek for the right analytics approach.

David Floyer8

Data is both an asset and a liability!

Does data being kept long term need another review board to see how it might spawn different revenue streams?

I usually explain Information lifecycle management (ILM) as the process of managing data as it goes from asset, to expense, to finally liability.

6 Votes Vote

the old discussion about auto-classification is relevant here - i.e. if you can't autoclassify you can't scale

so it will create expenses and revenue if managed in a smart way

but, is all kind of DATA really an asset?

AliyeOzcan8

What data can we dispose of? Organizations need to keep data for 3 reasons: 1) it has business value 2) it has legal obligations 3) it has compliance mandates. All else is eligible for disposal. #dataeconomy

5 Votes Vote

2& 3 are really the same. But you are assuming they know #1.

AliyeOzcan right. It is an organizational effort. When line of business units creates information, thye know what they are creating, why they are creating, and they might know to what extend they need the information..

But the problem is that data may not have business value today, but may in the future...

AliyeOzcan If we get that information about information it would bring insight about its value to the organization which could enable IT how to manage data based on its value.

Stuart Miniman

the line from #splunkconf has been "spinning data exhaust into gold"

Who actually makes the rules for what you can and can't dispose?

John Furrier

is there standards on what to keep or not keep with regard to data?

without guidelines it makes it difficult for organizations to get rid of anything

Brad Johns6

Seems to me that different kinds of data has different value characteristics; Some data is kept to reduce risk (legal or business), some data is retained to help reduce costs; and some is kept to help drive revenue.

What metric determines data is kept or not?

Dave Vellante 1/ legal or compliance (binary); 2/ value (revenue, productivity...) 3/ retention risk

it's the age old question Brad...is information an asset or a liability - answer: Both!

Dave Vellante5

How will innovations #bigdata and flash storage change application delivery and directly impact organizational value/productivity?

Flash storage increases costs and performance, but is not (today) a direct benefit to #bigdata. Analytics are a bigger issue than tech perf.

Levi Norman Flash if taken in the form of holistic view does NOT increase TCO...it reduces it...

Karla Magana Renoud

Its not enough that you can extract the information, but you need to do it at the point of impact. Timing is everything! and the right infrastructure matters.

#Bigdata could identify inefficiencies that help productivity

all-flash storage systems will boost critical application performance, gain efficiencies and strategically deploy resources for data management. All great end results for end users #IBMStorage

Scott Howser

Tim Crawford (@tcrawford) makes a good point. I would argue the real inhibitor to #bigdata is providing the business users with access to the data, and burgeoning ecosystem of associated analytic tools.

John Furrier totally agree making access easy to use is key for non techies (aka future data scientists)

Levi Norman

If you can gain meaningful insight to your pool of data and sort through it quickly, you can make effective decisions in a timely and efficient way...this makes for a more competitive/efficient business...

Guillermina Sainz

Flash solutions can provide real-time decision support for operational info & help improve performance of mission-critical workloads, such as credit card processing, stock exchange transactions, etc #dataeconomy

Lee Johns

Ultimately lower $/GB and $//IOP and improved latency will drive convergence in IT to center on application delivery,

Tim Crawford5

Let's not forget that there is a theoretical side of data management and practical side of it. They are not the same. Lots of theory being discussed.

3 Votes Vote

Stuart Miniman

care to share some examples/proof points of practical solutions that you've seen?

Tim Crawford From a marketing/ #bigdata perspective, connecting analytics to revenue increases.

Karen Hsu From a fraud perspective, you can identify patterns of fraud in big data (combining POS, transaction, authorization data). You can then prevent future fraud based on knowledge those patterns.

Karen Hsu From an operational perspective, you can identify patterns of failure in your products and then proactively replace failing components before being notified by the customer (internal or external).

I think this is a good point Tim-- So how can organizations focus on the practical and add value - vs spinning the wheels?

Tim Crawford First, start with a clear objective. Understand the business implications and follow the trail. No value = no path.

Karen Hsu

I agree. Practical use cases include: customer analytics, operational analytics, fraud and compliance and EDW optimization

Crowd Doc5

How much data is bigdata?

3 Votes Vote

Levi Norman

meaning what cross over volume?

CrowdChat Yes, what volume is bigdata? It changes every year with hardware advancements. There is so much more you can cramp into single machines now a days.

I don't think there is an absolute number. ESG talks about how "big data" is a LOT more data than you are accustomed to

So, for a small company that typically has about 100TB, "big data" might be 300TB

Whereas for a large corporation, "big data" might be in the PB range

Brad Johns

On a theoretical note; just finished a good book on Big Data called "Big Data A Revolution", in which Big Data is described as the environment where the sample set for is "All".

Translation: big data applies to everyone

I don't think the hardware is relevant. It changes the economics of what is doable. But that's about it

Karla Magana Renoud

IDC is defining it as "deployments where the data collected (not stored) is over 100 TBs". Data sets that are not very large but are experiencing rapid growth rates of 60% or more annually are also considered Big Data under their definition.

That IDC definition seems very weak. Lots of companies have >100TB but are not doing "big data"

Karla Magana Renoud I see it as a way to remove the concept that big data is only for massive companies. A small company may be experiencing big data conditions and could seek out a big data solution that fits its needs.

Chris Saul The ESG definition I quoted earlier is better for showing small companies that big data applies to them. Just saying "100TB" devlaues the term because then just about everyone is doing "big data"

Karen Hsu5

As a best practice, we have seen companies:
- estimate impact on the business through an ROI and TCO analysis
- calculate ROI for each project
- reuse the ROI metrics (e.g. % cost savings or revenue increase) to estimate impact on future business

4 Votes Vote

Karen Hsu

Have you seen this too?

Yes for other areas, but challenging in real practice WRT data.

Many clients I talk to have a hard time quantifying the ROI and TCO of their IT projects.

Keith A Thuerk So, do you feel that is more an IT issue or a Project Office issue?

for that, we need to define the site infrastructure

Tony Pearson4

Good job everyone! Special thanks to Dave, Mike and John. This was a great #dataeconomy Crowdchat!

4 Votes Vote

Dave Vellante4

What do people think about the notion of a "Data Czar" - i.e. a Chief Data Officer who drives data strategy, quality, governance...independent of the CIO

3 Votes Vote

How does one ensure the data is all valid and not manipulated (it's all digital)?

Dave Vellante this is an issue of data quality - someone needs to own information quality

John Furrier

This in my opinion will be a new job that will be created more about compliance and API mgt but my concern is does this stunt innovation organically

agree that it needs a focus but with ownership and governance

Why would the solution be just one source is better than a shared validation method?

Levi Norman

My belief is that would create additional layers rather than enabling existing entities to expand and evolve...

Why should the "Data Czar" be independent of the CIO?

Dave Vellante the argument is the CIO has too much on his/her plate and is incentivized to keep applications running - not drive data strategies

Dave Vellante but many feel the CIO's job is to be the Data Czar

Do we need a Data Czar role for quality? Quality need to permeate throughout the layers that touch data. Otherwise, there is little/ no context.

that would increase costs

Karen Hsu

If the organization can have czar, that's great. In many companies, we've seen a central group (e.g. center of excellence) agree on the specific roles and processes to ensure data quality, governance etc

Karen Hsu For Design and Production

AliyeOzcan

CDO and CIO are both required to be at the table along with Legal, RIM, Business, Privacy, and Security..