By Karen Miglin – Internet and Social Media Marketing Manager
According to a May 2011 report from McKinsey Global Institute, Big Data is the Next Frontier for Innovation, Competition and Productivity. Pat Gelsinger, President of EMC says that, Big Data is a $70 billion industry and growing at a rapid rate of 15% to 20% a year. So much for the thinking that “big data” is just a fancy marketing term.
According to an October 25, 2011 article in ComputerWorld on Big Data, “blogs, social media networks, machine sensors and location-based data are generating a whole new universe of unstructured data that — when quickly captured, managed and analyzed — can help companies uncover facts and patterns they weren’t able to recognize in the past.”
That same article went on to say “the U.S. healthcare industry could drive efficiencies and increase productivity by effectively harnessing data related to quality of care, success rates and patient history. The McKinsey Global Institute report, estimated that the industry could generate more than $300 billion in value every year with such big data initiatives. The report likewise suggests that big data has the potential to increase an average retailer’s operating margin by more than 60%.”
However, analyzing large data sets is not the same as it was before. Many products that handle big data are based on open-source technologies which fall short of the highly-developed, customized systems that an experienced third-party can provide. An outside consulting company can help bridge the significant gap in analytic skill sets that exist in most IT departments.
Using a third-party team of experts will bring your company working solutions that balance process and systems solutions from the critical view of your organization’s big data assets. Bardess Group has the understanding and statistical disciplines that you need as well as the expertise in new tools and data management platforms.
Quality Data provides the balance between processes and systems within business solutions. It is the foundation for all processes and activities within a corporation and the current generation of data is faster and more unpredictable than ever before. Bardess Data Management Solutions assist your organization in effectively utilizing data for competitive advantage. Our data solutions are tailored to assess, improve, and ensure data quality in your organization.
Why focus on data? Click here for more information and a free download of questions and answers on data.