Courtesy of Melvin G Calimag of ZDNet Asia
Like a double-edged sword that can cut both ways, big data has
the potential to provide local businesses with immense benefits but
can also harm them in an overwhelming way.
According to analyst firm XMG, the answer in solving the explosion
of information lies in the capabilities and attitudes
companies toward big data.
It's research analyst, Jacky Garrido, pointed to an XMG survey
which revealed that a majority of organizations viewed big data not
as a problem but as an opportunity to discover new facts
about their customers, markets, partners, costs, and
"About 30 percent of the respondents say big data is a problem,
while 70 percent said it is an opportunity," Garrido shared.
She said businesses should tap
data analytics to avoid getting
buried under the humongous amount of information they
generate through various outlets. She added that the emergence
of big data has fueled the growth of data analytics so
much so that it is now almost de rigueur among companies
to install such tools in their IT systems.
"Big data only becomes interesting if you can derive value from
it," she said, adding that businesses can gain real value and
insights through big data analytics.
And this business potential is likely to grow in the "
age of social media, geo-spatial information, and credit card
Garrido said: "For instance, it is not enough to just store data
on a server, the data needs to be mapped out and critical data
needs to be segregated from the non-critical data."
Overcome big data for competitive edge Storage vendor EMC
elaborated that IT consumerization and the increased usage of smart
devices are creating data deluge, making it difficult for
organizations to extract insights.
"The companies who can successfully harness big data to improve
their strategy and execution will find themselves having an edge
over those who do not," said EMC Philippines country manager,
He noted that
demand for data scientists is now outpacing supply in some
countries as a result of the digital explosion.
To navigate this cluttered space, Latinazo suggested that
organizations need to get onboard an analytics platform that
integrates structured and unstructured analytics with real-time
feeds and queries. "This should be conducted through a
self-service interface and built-in collaboration," he
Garrido said XMG's global studies indicated the potential of big
data, and consequently data analytics, noting that data generates
the highest financial value in healthcare, government, retail and
manufacturing, and telecommunications.
"These sectors leverage data to design their products or
services and decision-making, or accelerate their productivity,"
Citing another XMG survey which polled 325 companies, she
revealed that advanced data visualization came out tops, at 27
percent, as a feature respondents would like in their analytics
tools in the next three years. This was followed by advanced
analytics at 17 percent, and real-time reports or dashboards with
Advanced analytics, Garrido explained, is a collection of
related techniques and tool types which typically perform
predictive analysis, data mining, statistical research, and complex