Companies are spending billions on tools and engineering for big data-styled analysis, though many are hampered by one little problem: They still don’t know what to do with all the data they collect.
Sourced through Scoop.it from: www.cio.com
“This is the dirty little secret about big data: No one actually knows what to do with it,” Jason Waxman, an Intel vice president and general manager of the company’s cloud platforms group, said Thursday in a webcast for investors. “They think they know what to do with it, and they know they have to collect it, because you have to have a big data strategy. But deriving the insights from big data is a little harder to do,”. Big data is all about collecting large amounts of sensor or process data, the analysis of which can lead to insights into customer behavior and point the way to improvements in operational efficiency. – Intel is interested in the big data market because big data systems will require lots of processor-driven hardware, preferably Intel’s. Today, big data sparks about $13 billion a year in IT spending, a figure Intel estimates will balloon to $41 billion by 2018, with at least $2 billion or so of that money earmarked for hardware.
To get value from big data, enterprises must get past a number of hurdles, Waxman said. The company talked to a number of organizations to find out more about their use, and anticipated use, of big data. It found that the number one challenge is figuring out how to extract value from the data. It’s a demanding task. Organizations need the right talent to assemble and run big data systems, which requires skills in statistics and analytical reasoning in addition to the more usual programming and system administration.