Trends and Outliers
TIBCO Spotfire's Business Intelligence Blog
2013
The Key to Taming Big Data . . . the Pencil
Much of the promise of big data analytics and data analysis has been around unearthing myriad actionable insights that could lead to new customers who bring with them new revenue streams.
But strange as it may seem, the secret sauce to big data doesn’t lie in huge data warehouses or number-crunching supercomputers.
No, the key to big data success lies in a tool much older than these technological advancements – the pencil.
Too many companies focus time and attention on the technology to solve big data questions without taking the time to ask the important business questions first, notes Matt Ariker in a Forbes blog post.
“Tremendous insights do exist in big data,” according to Ariker, the COO of McKinsey’s Consumer Marketing Analytics Center. “Companies that use it well are leaping ahead of their competitors. One of the big reasons for that, however, is that they have a very clear sense of what they want to do with all that data before they start.”
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Filed under: Big Data, Big Data Analytics, Data Analytics
2013
‘Big Data’ is the Word – but Who Will be its Andy Warhol?
We’re sure you know that the 2011 word of the year is “occupy.” But what word do you think tops the list for 2012?
“Fiscal cliff” is a finalist as is “YOLO” (you only live once), according to NPR. But these words just don’t seem to have the same star power as the word that tops NPR’s list for 2012.
What word is that you ask? Why “big data,” of course. (OK, so technically “big data” and “fiscal cliff’ are two-word combinations and YOLO is an acronym, but NPR refers to each of them as a word, so we’re sticking with this designation as well.)
“Big data” has emerged as NPR’s word of the year because it’s bolstered by the buzz it’s spawned in Silicon Valley and because it’s been tapped as the theme for the World Economic forum.
This year Harvard Business Review has dubbed the data scientist as the “sexiest job of the century.” And when it comes to data analysis, President Barack Obama’s campaign rather than Mitt Romney’s carries the day, which is part of the reason for his successful bid for reelection.
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Filed under: Big Data, Data Analytics, Data Scientist
2012
The Year of Data + Top 5 Spotfire Blog Posts of 2012
Happy New Year! Just in time for 2013, we’re bringing you the best of our blog from the past year and a New Year’s infographic that we think wraps up the “year of data” quite nicely. It even includes a few memes (bet you can’t get “Gangnam Style” out of your head) and fun facts – on big data, of course – to share on your last work day of the year.
Also, don’t miss our our roundup of the most read posts on the Spotfire blog in 2012.
No. 5 – The 4 Biggest Problems with Big Data: Does big data cause big problems? It can when business leaders don’t recognize which data sets to draw upon and/or know which pressing business issues can be resolved using big data. This post takes a look at the challenges that are associated with big data and makes some key recommendations on how to overcome the four biggest problems with big data.
No. 4 – The Big Data Debate – Scientist vs. Analyst: Who doesn’t love a good debate? This post, which received a lot of comments, shows that you, our readers, love a lively discussion that’s centered around the role of analyst and what the Harvard Business Review calls the “sexiest job of the 21st century.” Read it over again and give us your take on whether the data scientist will continue to be a haute topic or just another trend. And also find out why empowering users can make everyone on your team a data scientist in her own right.
No. 3 – 10 Trends Shaping Big Data in Financial Services: One thing we’ve learned about Spotfire blog readers – you guys and gals love lists of trends. (It must have something to do with the name of our blog!) Go back to this post to find out why nine out of 10 business leaders consider data the fourth factor of production behind labor, land and capital.
No. 2 – Top BI Resolutions and Trends for 2012 from Industry Experts: Our roundup of resolutions and the outlook for 2012 hit home in a big way with our blog readers. Review this post and see if the BI resolutions and predictions match up with the outcome of 2012 for your organization.
No. 1 – 5 Important HR Analytics: Our top post of the year features a big concern in HR – using analytics effectively. This post explores how HR can move beyond reporting what is (the present) or what was (the past) to predicting and analyzing what will be (the future).
Next Steps:
- Subscribe to our blog so you don’t miss a post in 2013.
- Tweet us your favorite data moment of 2012.
Filed under: Big Data, Data Analytics, Data Scientist, HR Analytics
2012
Harnessing the Power of Data Analysis, Intelligent Sensors for Predictive Maintenance
The expanding use of intelligent sensors and data analysis by companies and government entities is helping leaders predict when equipment needs maintenance before it actually breaks down.
Oil platforms, telecommunication network infrastructure, rail systems and even vending machines are producing a wealth of data that can be analyzed to enhance risk management or maintenance processes for virtually any type of equipment, Ronny Seehuus notes in a recent article for Capgemini.
Seehuus points out that intelligent sensors that are used to measure the physical condition of equipment – temperature, humidity, etc. – can help manufacturers and companies in other industries detect trends and patterns to predict a failure or breakdown of a mechanical part before it actually happens.
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Filed under: Advanced Analytics, Data Analytics, Energy, Predictive Analytics
2012
Big Data and Data Analysis Predictions for 2013
It’s that time of year again. Time to look into our crystal ball – actually the crystal balls of some experts – to see just how the big data landscape is shaping up for 2013.
Big data and the increasing need for firms to put into place data analysis strategies to take advantage of the reams of data flowing through their networks have dominated the tech headlines in 2012.
And the trend is not going away, according to several research groups that are predicting that big data management and staffing issues will top the agendas for many corporations in the New Year.
Many global companies don’t yet have data management strategies, according to the Gartner Inc. research report, “Gartner Predicts: Big Data and Information Infrastructure.” But as big data volume, variety and velocity continue to increase, organizations will be forced to develop and implement data analysis and management strategies, notes the report.
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Filed under: Big Data, Big Data Analytics, Data Analytics
2012
How Marketers Can Use Obama’s Data Analysis Techniques
For many retailers and marketers, getting the type of actionable insight about customers that the Obama presidential campaign gained about citizens via data analysis – then used to sway voters – would be the equivalent of sales nirvana.
Staffers for the president’s campaign have historically closely guarded the “secret sauce” that helped them march to victory in the first big data election.
However, two former staffers of the Obama for America campaign have provided an inside look into the type of data analysis that helped Barack Obama secure a second term as president.
Evan Zasoski, the Obama campaign’s deputy director for data production, and Michelangelo D’Agostino, the campaign’s senior analyst for digital analytics, offer some tips for how businesses can use data analysis, and predictive analytics to unearth patterns and predict future customer behavior.
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Filed under: Big Data, Big Data Analytics, Data Analytics, Predictive Analytics
2012
5 Ways Data Analysis, Data Discovery Bolster Executive Performance
Executives are not only responsible for their own performances, but also for the performances of dozens if not hundreds or thousands of other employees, according to a recent Aberdeen Group report on executive analytics.
Because of fast-changing market conditions and customer attitudes, executives must be able to act quickly on business trends as they develop.
We outline five ways that data analysis and data discovery can strengthen executive decision making and improve organizational performance:
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Filed under: Data Analytics, Data Discovery, Enterprise, Self-Service BI
2012
Developing a Progressive Data Analysis Strategy
As companies gain more experience with data analysis, they’re able to identify new ways to use data and pinpoint opportunities to improve the business.
This includes the use of data discovery and other techniques to identify the company’s most valuable customers and determine ways to attract more like them.
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Data discovery techniques can help companies identify the right prospects faster and much more affordably. Think about it – enterprise companies often spend millions of dollars each year on sales and marketing campaigns, yet only a fraction of the prospects they target actually convert.
2012
Content is King: Using Data Discovery to Win the Crown
You know the old adage: content is king. This has never been truer than it is today.
Growing legions of marketers are focusing on developing effective content strategies via mobile and traditional online channels to increase customer and prospect engagement to drive higher conversion rates.
To succeed, marketers “must increasingly think like publishers as they compete for consumers’ attention in today’s digital world,” Jabeen Yusuf points out in a recent Forbes article.
On the flip side, editors must also think like marketers in terms of using SEO and keywords in headlines to help make content easy to find, deliver the right content to the right audience, and help pump up page views.
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Filed under: Data Analytics, Data Discovery, Retail, Social Analytics
2012
Data Analysis Not Top of Mind for HR
Many companies are hip-dip in a talent crunch, struggling to acquire and retain the talent that they need to survive in a challenging economic climate.
In fact, talent management is the top priority for today’s CEO, according to a recent PricewaterhouseCoopers study. This is being fueled by a talent shortage that’s plaguing 49% of US employers who say they’re challenged to fill mission-critical positions in their organizations
And human resources departments and managers are being blamed – whether justified or not – for these challenges. They’re seen as lagging behind other parts of a company when it comes to using data analysis to get accurate data and metrics to make important business decisions.
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Filed under: Data Analytics, HR Analytics, Predictive Analytics
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