While the field of data science is not tied directly to Big Data, advances in one tends to produce advances in the other. Big Data increases our ability to harvest and process data, while data science allows us to dig into it for insights.
To say the Open Data Institude (ODI) know a thing or two about big data would be understatement. In the 18 months since it opened its doors as an all-in-one data science school, research institute, startup accelerator, and business franchise, they’ve made a mark on the big data market. They’ve
We recently discussed the pitfalls of big data with Gartner’s Research VP, creator of the 3 V’s and all-round big data legend Doug Laney, and formulated some don’ts of big data to steer your big data dreams in the right direction. In almost any discussion about big data, the word
While cloud technology can offer several benefits to businesses, it is not without its downsides and risks. One of the major issue is the cost involved in migrating workloads to the cloud. Of course, the cost factor is usually discussed in detail with prospective vendors before finally making a decision.
Big Data has an alluring promise: crunch all of your datas and find out all these very important unknown things you didn’t know before. You will find out all sorts of important things about your customers. You’ll discover what they’re buying, what they’re not buying, what they like, what they
The Russian government, the State Duma, has passed a bill in both houses which mandates foreign web firms must store all data on Russian citizens within Russia. Companies have been given until 2016 to comply, and a failure to do so will see the sites blocked in Russia. One of
In a recent survey conducted by Paradigm4, a computational database company, it was revealed that big data was proving to be a challenge for data scientists – but not because of the amount, or volume, of data being produced, but rather the variety and diverse types of data these professionals
Max Kanaskar is an Associate for Strategy& (formerly Booz & Company). He has extensive experience in IT capability development and data management, and has advised companies in transformational data management programs, including data strategy, management and governance. He’s a regular commentator on big data and technology. His views can be found
When the Oakland Athletics first pioneered their “Moneyball” approach to baseball, they received a fair amount of scepticism. Today, however, using data to help you assemble the right team and get to know your opponents has become an ubiquitous approach across many different sports. We’ve reported on its use in
Follow @DataconomyMedia The Financial Industry Regulatory Authority, a Wall Street authority responsible for overseeing brokerage firms, have announced they’re in the process of moving all their data to the cloud. It is hoped that the move will save the agency $10 million to $20 million a year, as well as
Follow @DataconomyMedia Recommender systems are among the most fun and profitable applications of data science in the big data world. Training data (corresponding to the historical search, browse, purchase, and customer feedback patterns of your customers) can be converted into golden opportunities for ROI (i.e., Return On Innovation and Investment).