Devs will lead us to the big data payoff at last

Devs will lead us to the big data payoff at last

Devs will lead us to the big data payoff at last

In 2011, McKinsey & Co. published a study trumpeting that "the use of Big Data will underpin new waves of productivity growth and consumer surplus" and called out five areas ripe for a Big Data bonanza. In personal location data, for example, McKinsey projected a $600 billion increase in economic surplus for consumers. In health care, $300 billion in additional annual value was waiting for that next Hadoop batch process to run.

Five years later, according to a follow-up McKinsey report, we're still waiting for the hype to be fulfilled. A big part of the problem, the report intones, is, well, us: "Developing the right business processes and building capabilities, including both data infrastructure and talent" is hard and mostly unrealized. All that work with Hadoop, Spark, Hive, Kafka, and so on has produced less benefit than we thought it would.

In part that's because keeping up with all that open source software and stitching it together is a full-time job in itself. But you can also blame the bugbear that stalks every enterprise: institutional inertia. Not to worry, though: The same developers who made open source the lingua franca of enterprise development are now making big data a reality through the public cloud.

Read Also:
Reimagining fabs: Advanced analytics in semiconductor manufacturing

On the surface the numbers look pretty good. According to a recent SyncSort survey, a majority (62 percent) are looking to Hadoop for advanced/predictive analytics with data discovery and visualization (57 percent) also commanding attention.

Yet when you examine this investment more closely, a comparatively modest return emerges in the real world. By McKinsey's estimates, we're still falling short for a variety of reasons:

These aren't the only areas measured by McKinsey, but they provide a good sampling of big data's impact across a range of industries. To date, that impact has been muted. This brings us to the most significant hole in big data's process: culture.

 



Sentiment Analysis Symposium

27
Jun
2017
Sentiment Analysis Symposium

15% off with code 7WDATA

Read Also:
Deep Learning for Internet of Things Using H2O

Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

28
Jun
2017
Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

15% off with code 7WDATA

Read Also:
The Future of Artificial Intelligence in Social Media
Read Also:
For CFOs, A Reminder of Why Business Intelligence Is Not for Everyone

AI, Machine Learning and Sentiment Analysis Applied to Finance

28
Jun
2017
AI, Machine Learning and Sentiment Analysis Applied to Finance

15% off with code 7WDATA

Read Also:
Big Data Platforms in 2017: Leveraging Hybrid Clouds for Intelligent Operations

Real Business Intelligence

11
Jul
2017
Real Business Intelligence

25% off with code RBIYM01

Read Also:
Big Data Platforms in 2017: Leveraging Hybrid Clouds for Intelligent Operations

Advanced Analytics Forum

20
Sep
2017
Advanced Analytics Forum

15% off with code Discount15

Read Also:
Square Kilometre Array prepares for the ultimate big data challenge

Leave a Reply

Your email address will not be published. Required fields are marked *