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Telecom Council: Big Data

23/05/2012 16:30 - 23/05/2012 22:30
703 views
HostTelecom Council of Silicon Valley
VenueTata Consultancy Services<br />5201 Great America Parkway<br />Suite 522<br />Santa Clara, Califo
&nbsp; Big Data refers to the growing data industry sector built around capturing, storing, processing, analytics, and extracting value from massive databases of mixed and often unstructured data. This is data that exceeds the ability of most existing database systems to handle. It is the science around the proverbial needle in the haystack.&nbsp;This meeting will address how service providers can, and can&rsquo;t, monetize their data.<br /> <br /> How is big data, the breakout hot topic of 2012, different from the decades-old topic of data mining? In short, it's about timing. In 2012, we are offered the cataclysmic union of: <ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 40px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> tools, devices, and sensors that can collect a recent explosion in points of data</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> cheap, affordable, rentable, and increasingly fast (solid state) storage for our data</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> multi-core processing in highly-scalable and affordable (rentable) platforms</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> GPU processing for massively parallel computation, but also novel visualization possibilities</li> </ul> On those pillars, innovative software developers have re-visited the art of data-mining and designed new solutions that reveal the hidden secrets inside the data. What's the value of Big Data? A report out this month from Wikibon reckons that Big Data is a $5 Billion today, and is growing to $15 Billion by 2017, representing 58% CAGR. And that revenue is split 44%, 31%, 25% among services, hardware, and software.<br /> <br /> According to IBM, each day 250 million Gigabytes of data are created, and 90% of the data that exists today was created within the past two years. But the nature of the real time enterprise means that we don't want to sit on that data for future analysis - it is mostly valuable in relation to our ability to extract the value in near real time. The value creation in Big Data comes from gleaning insights from mountains of data of various kinds. Some examples could be: <ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 40px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> tracking a user's every click through your website (or step in your store) revealing where to place stock, promotions, discounts, surcharges, inventory, and more</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> using a network of sensors around a crop field to optimize watering, fertilizer, harvest timing, etc.</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> financial analysis an stock pricing predictions</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> using a person's indicated preferences across multiple websites, SNSs, mobile sites, apps and more to infer preferences for highly targeted marketing</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> collaborative filtering solutions like Netflix recommendations or Pandora music mixes</li> <li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-image: initial; font-style: inherit; font-family: inherit; line-height: 1.5em; "> using data from weather stations to get useful predictions of tornadoes or other weather phenomena</li> </ul> But there are risks as well. It can turn out to be a big resource sink. Some companies have spent resources collecting and containing data, but have not mastered how to manage, analyze, and extract value. It's easy to bite off more than one can chew. But bigger teeth are on the way. In our Big Data meeting, we'll hear from some of the leaders in the Big Data game, the startups, and the case studies of those who have successfully turned data into money.&nbsp;
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