Big data is talking, is anyone listening?

Taken from BIM Ireland read entire aritcle there.

Everyone is talking about ‘big data’ and how tech behemoths like Google are going to use it to change the world. But what does it mean for the rest of us – companies and organisations who do not have ninja-coders sitting on beanbags developing artificial intelligence apps during their company-subsidised gourmet lunch breaks?

In this article, David Kelly from Atkins looks at how non-tech organisations are overcoming technical challenges to make the most of their data.

In May of this year, The Economist declared that the world’s most valuable resource is no longer oil, but data.  And with some saying that 90% of the world’s data was created in the past few years alone but that less than 1% of it is actually being used or analysed, it would appear that people are only just beginning to appreciate its worth.

For most organisations, the efficient management of data has the potential to reduce costs, control risks and improve whole life performance. However, in many cases, the challenge is in identifying what data to collect and how to collect it.

Almost all organisations have data which can be exploited to deliver valuable information to aid decision-making. However, the decision about what data to collect is often made without any reference to the strategic needs of the organisation. Many organisations tend to collect data which is easy to capture rather than that which is valuable to have.

In parallel with improvements in connectivity, the cost of storing data has dropped dramatically leading to a step change in attitudes to data storage.  The traditional approach where only the most critical of data was stored for the minimum time necessary has been almost universally supplanted. Now data storage is more a matter of storing everything almost indefinitely just in case it might be needed it at some point in the future.

Taken from BIM Ireland read entire aritcle there.

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