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:
Manufacturing Business Intelligence

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.

 



Chief Analytics Officer Spring 2017

2
May
2017
Chief Analytics Officer Spring 2017

15% off with code MP15

Read Also:
5 Free Courses for Getting Started in Artificial Intelligence

Big Data and Analytics for Healthcare Philadelphia

17
May
2017
Big Data and Analytics for Healthcare Philadelphia

$200 off with code DATA200

Read Also:
5 Career Paths in Big Data and Data Science, Explained
Read Also:
BMW’s Bold Plan to Make a Fully Self-Driving Car by 2021

SMX London

23
May
2017
SMX London

10% off with code 7WDATASMX

Read Also:
Manufacturing Business Intelligence

Data Science Congress 2017

5
Jun
2017
Data Science Congress 2017

20% off with code 7wdata_DSC2017

Read Also:
12 Barriers To Real-Time Analytics

AI Paris

6
Jun
2017
AI Paris

20% off with code AIP17-7WDATA-20

Read Also:
What is Business Analytics and which tools are used for analysis?

Leave a Reply

Your email address will not be published.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