Will Big Data Help Shape the Next Market Winners and Losers?
By Karla Robinson
October 3, 2011
October 3, 2011
- Forrester Research defines big data as “techniques and technologies that make handling data at extreme scale affordable.” The research firm estimates that companies effectively utilize less than 5 percent of available data, and further suggests that big data will help companies use information to dominate the competition in their market.
- “It seems that every week another vendor slaps ‘big data’ into its marketing material – and it’s going to get worse,” writes Forrester analyst Brian Hopkins for Forbes. “Should you look beyond the vendor hype and pay attention? Absolutely yes! Why? Because big data has the potential to shape your market’s next winners and losers.”
- Big data is not only concerned with the volume of information but also in velocity, variety and variability of data, since “data is usually generated so fast that you need to constantly capture more of it to be valuable for some decisions.”
- The write-up in Forbes is promoting Forrester’s new report, “Expand Your Digital Horizon With Big Data.” From the executive summary: “At extreme scale, traditional data management and business intelligence (BI) become impractical, and your business does not get what it demands — more insight to drive greater business performance. Big data helps firms work with extremes to deliver value from data cost-effectively.
- However CIOs must understand that this is not business as usual. In fact, big data will disrupt the data management landscape by changing fundamental notions about data governance and IT delivery. Take the time to understand big data as well as its implications and begin a balanced approach that considers more than just the technology hype.”
Topics: Big Data, Brian Hopkins, Business, Data, Forbes, Forrester Research, Information, IT, Research
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