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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Big Data

04/16
2014

Conquering the Key Challenges of Big Data

Big data offers companies a number of useful benefits, including opportunities for decision makers to gain deep insights about customers and market opportunities.

shutterstock 146516834 150x150 Conquering the Key Challenges of Big DataWhen used effectively with analytics tools, big data can also help business leaders identify and stem emerging issues (e.g., a developing bottleneck in a company’s supply chain) – even before they’ve reached the surface.

Companies Still Need to Address Big Data Challenges 

Still, despite the tremendous opportunities that it offers, big data also presents some heady challenges to organizations.

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04/14
2014

Life Is Data: Improving Public Welfare with Big Data

The term “big data” is a bit of a misnomer. That’s because while the size of the data streaming into companies from social networks, online shopping, mobile devices and sensors attached to machinery is massive, the most important aspect of big data is the potential for how it can be applied to solve some of the world’s most vexing problems.

shutterstock 1862799651 150x150 Life Is Data: Improving Public Welfare with Big DataThat’s the assertion of a new article from Harvard magazine, which notes that the most compelling aspects of big data are its ability to create new knowledge by linking datasets as well as its creative approaches to visualizing data.

The article notes multiple applications of big data to improve people’s lives including: predicting where and when crimes will occur to allocate police resources; linking air quality with health; or using analysis to develop crops for drought resistance.

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04/11
2014

Wealth Management: Strengthening the Advisor-Client Relationship

Despite nearly a decade of negative real returns on equity and a string of bear markets, global wealth has more than doubled since 2000, reaching an all-time high of $241 trillion last year.

shutterstock 186523718 300x200 Wealth Management: Strengthening the Advisor Client RelationshipThat’s according to the 2013 Credit Suisse Wealth Report, which forecasts that global wealth is expected to grow 40% over the next five years, reaching $334 trillion by 2018.

The vibrant expansion in global affluence is being fueled by a combination of factors: the continuing expansion of emerging markets (which is estimated to account for 29% of the projected growth) along with the rise of personal wealth in the US as the housing and equity markets continue to make gains.

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04/09
2014

Data + Cloud = Money

Many organizations are realizing that great potential insight lies within the big data in their own networks and streaming through the social web.

shutterstock 1189420151 300x201 Data + Cloud = MoneyAnd that means these enterprises should be focused on the money they could be making if they take advantage of cloud-based analytics.

Measuring Cloud Effectiveness

That’s the assertion of Mark Herman, executive vice president of Booz Allen and leader of the firm’s Value from Data Initiative.

In a Forbes blog post, he notes that just as public companies measure their financial performances on earnings before interest, taxes, depreciation and amortization (EBITDA), the driver for advancements in data analytics should be “cloud EBITDA.”

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04/08
2014

Big Data Is Watching Your Customers

Forget Big Brother, big data is always seeing, always tracking, and always collecting data. Smart mobile devices, smart appliances and even intelligent vehicles can offer a constant feed of data for businesses to utilize in a variety of ways.

shutterstock 178246889 300x208 Big Data Is Watching Your CustomersLet’s take a peek into one day in the life of Joe Consumer to see how his actions become part of the Internet of Things and the data stream you use to create powerful big data analytics for your company.

After Joe stumbles out of the shower he heads for the kitchen where his coffee pot and dishwasher are connected to their manufacturers. That’s a good thing because the dishwasher is having service issues.

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04/07
2014

Predictive Analytics: Reading Your Customers’ Minds

Forward-thinking companies like Amazon aren’t just responding to the needs of their customers – they’re anticipating what customers want and providing offers and products based on customer sentiment, transactional trends, and lifecycle status.

shutterstock 100364444 290x300 Predictive Analytics: Reading Your Customers Minds Customers share truckloads of information about themselves – including behavioral, attitudinal, and transactional. Some of this information is shared intentionally through social media sentiment, as well as through survey responses and the like.

But some of the data such as channel behaviors is gleaned without customers’ knowledge. And that makes many consumers uncomfortable about the amount of information that companies have about them and are using to tailor offers and messaging.

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04/04
2014

BI Wisdom Twitter Chat Recap: Cloud BI

It’s time for a Tweet chat recap that’s all about the cloud, business intelligence and the wisdom of some industry experts including host Howard Dresner.

shutterstock 130367741 300x200 BI Wisdom Twitter Chat Recap: Cloud BIThe topic for the March 28 #BIWisdom chat was cloud BI. There was a lot of back and forth, but we’ll focus on one aspect (actually two related aspects) the risks/benefits of cloud BI.

Interest in Cloud BI Is Growing

Dresner (@howarddresner) says that there’s been an increased interest in cloud BI over the past couple years. In fact, he notes that in 2013, 35% of people believe the cloud “critical” or “very important” compared to 31% in 2012.

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04/03
2014

The Economics of Cloud Computing

When exploring the cost benefits of leasing analytics software via the cloud model, there are several factors to examine.

shutterstock 1317023421 150x150 The Economics of Cloud ComputingTime to Market

One of the key consideration for using cloud-based analytics is time to market. Under a cloud model, end users can be up and running within a matter of hours, not months. This can enable targeted users and project teams to act more quickly on time-sensitive market or customer opportunities ahead of competitors.

Each day a company is able to make use of analytics is time the organization has to solve business problems, identify new business opportunities, and optimize operations.

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04/02
2014

Location Analytics: Powerful Visual Metrics to Save Time, Money

What do real estate and big data analytics have in common? While it may sound like the lead-in for a bad joke, the answer is: “Location, location, location!”

Geospatial representation is a complex term for something that’s visually simple. It may look complicated at first, but we intuitively understand what we see faster than what we read.

image242 Location Analytics: Powerful Visual Metrics to Save Time, Money

And in today’s digital age, these statistical representations allow data analysts to review color-coded, segmented, map-based data upon insertion of the data, not upon evaluation of it. And the faster andmore accurately your data analysts can process data, the more efficient and effective they can be.

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04/01
2014

Providing CFOs Context to Apply Big Data

In order to gain funding for big data and analytics projects, IT and business leaders often must gain the approval of the chief financial officer. That can often be a tall order, since other technology investments are increasingly competing for the CFO’s attention.

shutterstock 92821639 300x200 Providing CFOs Context to Apply Big DataEven though investments in business intelligence and analytics remain a high priority for CFOs, business and finance applications continue to gain in importance among financial leaders, according to the 2013 Gartner Financial Executives International CFO Technology Study.

CFOs want compelling business cases to justify investments in big data and big data analytics.

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