Analytics continues to be an important trend in the IT Industry and those companies that focus on establishing a strong analytics capability will be more competitive in the future.
The amount of Big Data being created, collected and stored with our IT infrastructures is growing exponentially. New streams of digital, social, and sensor sourced data is now filling up databases and data warehouses. At the same time, executives are wanting and needing deeper knowledge and insights on all aspects of their business. The execs know that the data exists within their data center that can help them make better business decisions but they need the capability to be able to harvest insights that will help them make better decisions.
Leading-edge businesses are embracing advanced analytics that can help them identify their most profitable customers, accelerate product innovation, optimize supply chains and pricing, and identify the true drivers of financial performance.
Trends in Analytics for 2013
There’s so much going on in the field of business analytics. Here are a few of the important trends to watch in 2013
Customer Analytics: Personalized, cross-channel, customer-driven analytics will drive new focus on delivering individualized, personalized digital experiences
Mobile Analytics. Increased use of mobile will drive requirement for analytics applied to mobile generated data
Social and Textual Analytics. Moving beyond batch listening, Social Business Managers want to be able to analyze social conversations and influencer networks in real time.
Predictive Analytics: New innovative applications of advanced algorithms and modeling techniques will advance the science of predictive analytics.
Real-Time Analytics. As decision makers get a taste for what can be done, they will want that information faster…..and eventually in real time
Interest Grows in Data Visualization: Enterprises learn that managing and extracting insights from Big Data is not enough…you need to be able to display the insights for decision makers.
Self- Service: Decision makers will increasingly want access to simple to use analytic tools that provide visualization rich output. Oh….and they want that output on their tablet.
Hadoop matures: Hadoop functionality improves and CIOs begin to consider it for mission critical applications
Data Scientists: There will be a rush to hire skilled Big Data Scientists, often via services like Kaggle.
Education and Training: Big Data & Analytic Services firms will offer extensive training and certification programs to try to help fill the shortages of skilled Data Scientists.
I’ve embedded my slide deck from Slideshare titled Big Data: A 2013 HorizonWatching Trend Report below. This 2013 HorizonWatching Trend Report provides an overview on the Big Data trend. Summary information about the Big Data trend is provided along with many links to additional resources.
So what is Big Data? To me, it refers to how we collect, store, and manage information that comes into an enterprise so that it can be harvested for analysis, insight generation, and decision making.
Big Data is hot right now because 10-15 years ago data was coming in from just a few sources, mainly customer transactions, supply chain transactions, and employee payroll. Today, data is coming in from everywhere, including other computers and sensors. In addition, the huge growth of videos, pictures, audio, social media and other unstructured data is taxing the storage systems and information databases of many data centers. IT and Business Leaders are trying to figure out how to manage Big Data and leverage it for analysis and decision making.
Trends in Big Data for 2013 Below is a list of 10 trends to watch out for in 2013 around the Big Data topic.
Definition Does Not Matter: The focus turns towards implementation and value
Cost as a Big Data Benefit: Case studies demonstrate ROI of Big Data. It is leaner, significantly reduces data integration costs, and opens the door for data exploration
Analytics and Visualizaton: For those implementing Big Data, there will be an increased interest in Analytics and Visualization capabilities.
Data Scientists: There will be a rush to hire skilled Big Data Scientists, often via services like Kaggle, who are specialist in designing how a firm collects, stores, and manages big data.
Increased Competition: IBM, EMC, SAP, SAS, and Oracle all increase competitive efforts, leading to better solutions and services
Big Data as a Service: Service Providers emerge to handle the whole stack.
Data Protection: CIOs implement automated systems to handle all replication, deduplication, backup, and restoration.
Followers Left in Dust: Organizations that do not implement Big Data solutions risk loosing their competitive edge.
CMOs overwhelmed: CMOs are not prepared to handle all the big data. In 2013 marketing needs to learn to work better with IT
Education and Training: Big Data Services firms will offer extensive training and certification programs to try to help fill the shortages of skilled Data Scientists.
Internet of Things (IoT) refers to everyday physical objects that have embedded sensors, actuators and chips in them that allow the capture and communication of data. These devices are then linked through both wired and wireless networks to the Internet. The IoT trend is all about enabling these devices and then using the information collected as a result as a tool to make our lives better and help us make better decisions. The IoT is therefore seen by many as an ultimate solution for automating business processes — in the real-world and in real-time.
If you look around your own home, you will see that sensors are being embedded in all sorts of ‘things’ from fitness monitors, to cars, to appliances. There are forecasts from industry analysts that say there will be up to 100 billion uniquely identifiable objects connected to the Internet by 2020. Many of these devices will be able to talk to other devices and computers without any human intervention. Enterprises can deploy their own sensor networks, building sense and respond systems that can work autonomously. Some say that the IoT will be the most disruptive technological revolution since the advent of the World Wide Web.
Trends to Watch in 2013 for the Internet of Things
Thank you IPv6!: Connectivity and Communications of IoT is enabled by IPv6, which is replacing IPv4.
It’s About Sensors: They are getting smaller, smarter, and cheaper….and there are billions of them.
Machine to Machine: Sensor and systems of sensors talking to each other and data centers via wireless communications
Like A Nervous System: IoT can enable an automated sense and respond system for any business process or application.
Big Data to get Bigger: All these ‘things’ (sensors) will produce even more data than we have now, taxing our already complex enterprise Information Management systems.
IoT Analytics: Advanced analytics and dashboards will be needed to provide insights from all the ‘things’.
Clouds that Scale: Some IoT systems and networks may have to scale quickly and autonomously.
CIOs Need to Prepare: CIO Leaders and Innovators will begin strategizing how to best make use of IoT for their organizations.
Education Needed: Expect increased demand for education and skills training related to Sensor Networks and what to do with the data collected.
Product Design: Consumers and Customers will increasingly expect products to come with embedded sensors.