Posts tagged ‘Facebook’
Big Data Tools Need to Get Out of the Stone Age: Business Users and Data Scientists Need Applications, Not Technology Stacks
Things have been crazy at PatternBuilders recently. The excitement and positive reactions to FinancePBI, our Financial Services big data analytics solution, from media, analysts, venture folks, cloud infrastructure partners, and users has been amazing. Our new cross industry graphical big data correlation mashups are generating a lot of excitement as well—we like to call this feature Google Correlate on steroids. Check out how our newest partner analytics consultancy, InsightVoices, has used it to find relationships between stock prices and traffic sensor data.
Mary’s recent post on Strata West 2012 provides a great overview of how hot the hype cycle around big data has become (while managing to work in a plug for her favorite gory TV series as well). In case you’re still not convinced, here are some additional nuggets:
- The market for big data technology worldwide is expected to grow from $3.2 billion in 2010 to $16.9 billion in 2015, a compound annual growth rate (CAGR) of 40% (hat tip to IDC).
- The amount of big data being generated continues to grow exponentially, now being expected to double in two years. This is largely driven by social networks, smartphones, and really cool IP-enabled devices like the Fitbit and this IPhone-based brain scanning device by our new Strata buddy Tan Le at Emotiv Lifesciences. Yes, she is much smarter than us but we like her anyway!
- The White House is even doing its share, investing $200 million a year in access and funding to help propel big data sets, techniques, and technologies while giving a shout out to our friends at Data Without Borders.
Folks, I am neck deep in writing “stuff” this week (from my final McKinsey health care post to working with Terence on another chapter for our upcoming Ebook—yep, shameless plugs strike again!) but so many great posts and articles came through my “inbox” this week that I just have to “talk” about them. If you have some time over this long weekend, every single one of these items is worth a thorough read.
Privacy is Every Where and No Where
One of the most thoughtful posts on privacy in the digital world, courtesy of John Jordan, came out today. John’s use of real world examples to illustrate his own angst on the topic made me stop and think:
“Does it matter that a person’s political alignment, sexual orientation, religious affiliation, and zip code (a reasonable proxy for household income) are now a matter of public, searchable record? Is her identity different now that some many facets of it are transparent? Or is it a matter of Mark Zukerberg’s vision—people have one identity, and transparency is good for relationships—being implicitly shared more widely across the planet? Just today, a review of Google Plus argued that people don’t mind having one big list of “friends,” even as Facebook scored poorly on this year’s customer satisfaction index.” (more…)
Happy Friday the 13th! It’s been a very busy week in story-land so in honor of this auspicious day, I thought I’d post about some of the more interesting stories that came across my Twitter feed, Google alerts, and email updates. So without further ado, let’s get cracking!
It’s All About the Data (Plus Analytics)
I don’t know about you, but I cannot wait to wade through McKinsey’s study on “Big Data: The Next Frontier for Innovation, Competition and Productivity.” Full disclosure: it comes in at 156 pages of fascinating information so it will take me a while to read and absorb, but once I’m done look for a post or two on my key takeaways. Until then, a recent New York Times article provides some of the highlights:
“It makes estimates of the potential benefits from deploying data-harvesting technologies and skills. The McKinsey research unit, for example, says the value to the health care system in the United States could be $300 billion a year, and that American retailers could increase their operating profit margins by 60 percent.”