Author: Beatriz Dias

Business Analytics

In June 2011, the Economist Intelligence Unit (EIU) has released a survey to 586 executives, in which only 1% of them reported that there was not a significant increase of the data as well as of its complexity over the previous year in the respondent’s organization.  If you belong to this minority you do not need to worry about this issue.

 

A key way to achieve more stringent goals and to grow in your area of ​​business is the ability to focus your attention and to constantly keep up with trends and market changes. In times of crisis it is crucial to monitor priority market trends if you want to continue growing and evolving on your core business.

The differentiation of the offer organizations of Technology reveals the constant ability to innovate the offer as a strategy for success. An organization that stands for positive differentiation in the market, along with its direct competitors, raises the success of its core business, whether in the domestic or international market. Technology enterprises have a priority mission: innovate to compete and make the difference, not only in Portugal but also in other markets.

Innovate and undertake requires a correct guidance of posture and strategy in relation to what experts in market trends observe, in a future perspective. The main market studies indicate as big trend for the sector of Information Technology (IT) in 2012, the so called Big Data phenomenon, i.e., a set of massive unstructured data growing exponentially allowing to define the patterns of behaviours and supporting analytical applications of business.

The concept Big Data was created by market analysts as a way of naming the exponential growth of data that organizations need or can handle, always with the aim of extracting all the useful information that enables a growing capacity and speed in decision-making. It began to spread to alert organizations about the need to adopt a strategy of focusing on assessment, particularly of unstructured data, which are outside the control of IT.

THE 3 DIMENSIONS OF BIG DATA CONCEPT

Volume: The volume of information that organizations receive daily with terabytes of data (generated by financial institutions, industries, social networks and other devices);

Speed: often, large volumes of data have to be used in the way that the company flows in order to maximize their value to the business;

Variety: Large volumes of data extend beyond structured data, including unstructured data of all varieties: text, audio, video, log files and more.

To support these three major dimensions Appliances emerge that allow having devices pre-configured to perform a specific function within a system. These devices are based on software products of generic use, but optimized to integrate only the components required for their target application. It is the result of the harmonious integration between software and hardware.

Appliance is the quick setup of a system of high availability and scalability that enables the management of large amounts of raw data, ensuring the control of IT costs. Cost control is made possible by a previous phase of integration of all hardware and software components in a single Big Data solution, able to complement Data Warehouses of organizations.

These Appliances will allow minimization of the redundancy of data, an analysis of real-time information that was not possible until now due to the size of the data, and the construction of flexible analytic models based on current and historical data of the business, created for new applications.

These will be the applications of the future that will address the challenges presented by Big Data?

PT