Trends and Outliers
TIBCO Spotfire's Business Intelligence Blog
2013
Analytics to Tap Into Futuristic Energy Sources
Japan has recently announced that it has extracted natural gas from offshore deposits of methane hydrate – sometimes referred to as “flammable ice.”
The extraction of the gas from an undersea hydrate reservoir is believed to be the first extraction of its kind. It could provide an alternative source of energy to known oil and gas reserves, which is an exciting development for energy-starved nations such as Japan.
The methane gas reserves located off Japan’s coast are believed to hold enough potential fuel to generate 11 years of Japanese gas consumption, according to Reuters.
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Filed under: Big Data, Big Data Analytics, Data Analytics, Energy
2013
Location, Location, Location – A New Addition to Spotfire Analytics
In real estate, news, retail and many other industries, location gives businesses and business people an advantage – that’s even the case for big data analytics.
In fact, 80% of enterprise business data has a location component, according to Deloitte.
To enable our customers to leverage location intelligence and geospatial analytics, TIBCO announced this week the acquisition of Maporama Solutions, a privately held, cloud-based provider of these services.
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Filed under: Big Data, Big Data Analytics, Data Analytics, Location Intelligence
2013
5 Ways to Gain Value From Big Data
There can be no doubt of the meteoric rise of the buzz surrounding big data. But do companies have data analysis projects underway and are they realizing value yet?
In a word, yes. At least according to a new survey of more than 50 executives representing leading Fortune 1000 companies like Aetna, American Express, Bank of America, General Electric and large federal agencies like the Pentagon.
Eighty-five percent of the respondents note that a big data initiative has been planned or is in progress, with almost half using big data in an operational capacity ranging from production reporting to 24/7 mission-critical applications, according to the survey by NewVantage Partners.
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2013
Using Analytics to Unlock Insights into Giant Energy Deposits
The US and Canada are pushing the envelope on oil and natural gas production as both nations strive to become less dependent on foreign sources of energy.
The use of predictive analytics is playing a critical role in helping energy companies across the world identify potential locations for rich energy deposits along with ways to extract crude oil and natural gas reserves in previously hard-to-reach locations.
Canada is ranked third in the world with proven oil reserves and is also ranked as the world’s third-largest producer of dry natural gas, according to the U.S. Energy Information Administration.
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Filed under: Data Analytics, Energy, Predictive Analytics
2013
Big Data vs Bad Data: Data Governance is the New Black
Is data governance the new black? It is, according to Gartner Research Director Svetlana Sicular, who says her clients are flocking to her with questions about metadata, managing external data sources and other issues related to data quality.
“Too much red tape, ignored grey areas or situations, code named at Gartner ‘my CEO looks bad in orange,’ make data governance the new black,” according to Sicular.
Sicular’s clients are not the only organizations grappling with ensuring that the insight they glean from data anlaysis is managed systematically and is accurate. Ventana Research, for example, notes that 60% of companies say that data is not timely enough to be useful, while 58% report that data is not clean enough to use.
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Filed under: Big Data, Big Data Analytics, Data Analytics
2013
Be a Top Performer: Embed Analytics in User Processes
The potential business returns of effective big data analysis have been well documented across a wide variety of industries from manufacturing to marketing.
But gaining a 360-degree view of a customer, successfully predicting sales in a new market or predicting when machinery will fail – all possible effective big data analysis outcomes – can’t happen if business users opt not to use the tools.
Increasingly, front-line workers likely won’t use big data analytics tools unless those tools are intuitive and easy to use in current work processes, according to recent research.
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Filed under: Big Data Analytics, Business Intelligence, Data Analytics
2013
Data Analysis to Tame the Unstructured Data Beast
One of the most daunting challenges for companies seeking to bolster business decisions by tapping the power of big data with analytics is managing the huge swell of unstructured data including comments on social networks, video files, images and critical documents like call center customer comments.
This unstructured data – data that can’t be analyzed in traditional databases – is surging into company networks full of actionable insights for the organizations that can effectively use data analysis to mine it.
For example, 80% of the highest performing companies note that they use a significant amount of unstructured data, compared with 46% of all other companies, according to a recent report from research firm Aberdeen Group.
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Filed under: Big Data, Big Data Analytics, Data Analytics, Unstructured Data
2013
Boost Data Analysis Through Better End-User Adoption
Businesses across a wide variety of industries are successfully leveraging data analysis to obtain substantial bottom-line benefits.
Take InterContinental Hotels Group, for example. The hospitality company has consolidated its data analysis efforts related to the rewards program of its 71 million members into an integrated system that combines customer information with unstructured big data sources like social media comments.
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Using this data analysis, the hotel has launched a marketing campaign that has generated a 35% higher rate of customer conversion than a similar campaign last summer, according to the Wall Street Journal.
Filed under: Big Data, Big Data Analytics, Data Analytics, Predictive Analytics
2013
Spotfire 5.5 Release Addresses Growing Market Trends
Companies that want to be competitive, productive as well as innovative have to get the right information to the right people in real time. But at the same time, they have to control access to their sensitive business data.
With the Spotfire 5.5 enterprise-class data discovery platform companies can secure their corporate assets, and provide instant self-service analytics to support the competitive, agile organization.
In our upcoming blog posts, we’ll delve into the major issues companies are facing accessing data – especially unstructured data – from different data sources.
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2013
Applying Analytics to Retain, Attract Telco Customers
The fact is telecommunications customers are constantly getting bombarded with offers to switch providers. Not only that but customers are also becoming more involved in service/price comparisons.
That’s why it’s more important than ever for business leaders of wireless providers to use analytics to identify the right offers and price points for services and features to attract and retain the most high-value customers.
The use of predictive analytics by telecommunications and other companies to identify optimal pricing is hardly new, as Accenture notes in a report.
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