By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    football analytics
    The Role of Data Analytics in Football Performance
    9 Min Read
    data Analytics instagram stories
    Data Analytics Helps Marketers Make the Most of Instagram Stories
    15 Min Read
    analyst,women,looking,at,kpi,data,on,computer,screen
    What to Know Before Recruiting an Analyst to Handle Company Data
    6 Min Read
    AI analytics
    AI-Based Analytics Are Changing the Future of Credit Cards
    6 Min Read
    data overload showing data analytics
    How Does Next-Gen SIEM Prevent Data Overload For Security Analysts?
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Big Analytics: Closing the ‘Clue Gap’ with Big Data
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Data Management > Culture/Leadership > Big Analytics: Closing the ‘Clue Gap’ with Big Data
AnalyticsCulture/LeadershipData MiningData QualityData VisualizationData WarehousingPredictive AnalyticsText AnalyticsUnstructured Data

Big Analytics: Closing the ‘Clue Gap’ with Big Data

DavidMSmith
Last updated: 2011/09/03 at 9:31 AM
DavidMSmith
4 Min Read
SHARE

There’s been an growing discussion over the past couple of years on the topic of Big Data: how to deal with the situation when you have more data than can be conveniently managed and analyzed by traditional software tools. But Big Data has little intrinsic value in its own right: its value is only realized when you can deploy analytical expertise to draw actionable information from the data.

There’s been an growing discussion over the past couple of years on the topic of Big Data: how to deal with the situation when you have more data than can be conveniently managed and analyzed by traditional software tools. But Big Data has little intrinsic value in its own right: its value is only realized when you can deploy analytical expertise to draw actionable information from the data. Dion Hinchcliffe at ZDNet aptly calls this “closing the clue gap“: 

As accumulated information has become a top-line asset in large companies, the ability to tap into it and release value from it is not growing to match in most traditional firms. Yet this information is currently growing exponentially and becoming a challenge in its own right. … Smart organizations can apply Big Data methods to solve existing business problems, implement new business models, and drive growth in innovative new ways. That is, if they can find a way to move beyond their parochial ways.

Tim O’Reilly put it more succinctly, with this quote (which inspired Hinchcliffe’s article):

More Read

analyst,women,looking,at,kpi,data,on,computer,screen

What to Know Before Recruiting an Analyst to Handle Company Data

Tackling Bias in AI Translation: A Data Perspective
The Role of Data in Understanding Demographics for Effective Marketing
7 Ways Data Monetization is Changing the Information Technology Job Market
6 Reasons to Boost Data Security Plan in the Age of Big Data

Companies that have massive amounts of data without massive amounts of clue are going to be displaced by startups that have less data but more clue.

Our take is that the “clue” comes from the expertise of data scientists, who can apply the methods of statistical analysis and predictive analytics to create value from Big Data. We call this Big Analytics. In a new white paper, Revolution Analytics’ CEO Norman Nie explores how statistical analysis techniques are critical to deriving value from Big Data, by allowing analysts to:

  • Deal with a non-linear world, and move beyond the linear approximation with advanced software tools like the R language
  • Create powerful models and predictions with data mining
  • Detect and capitalize on rare events
  • Extracting and analyze ‘low incidence populations’
  • Address the conundrum of ‘statistical significance’ in Big Data 

Dr. Nie introduces the white paper as follows:

The enormous growth in the amount of data that the global economy now generates has been well documented, but the magnitude of its potential impact to drive competitive advantage has not. It is my hope that this briefing urges all stakeholders—executives who must fund analytics initiatives, IT teams that support them and data scientists, who uncover and communicate meaningful insight—to go boldly in the direction of “Big Analytics.” This opportunity is enormous and without precedent.

The white paper is available for download now (with free registration) from the link below.

Revolution Analytics: The Rise of Big Data Spurs a Revolution in Big Analytics

TAGGED: big analytics, big data
DavidMSmith September 3, 2011
Share This Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

Shutterstock Licensed Photo - 1051059293 | Rawpixel.com
QR Codes Leverage the Benefits of Big Data in Education
Big Data
football analytics
The Role of Data Analytics in Football Performance
Analytics Big Data Exclusive
smart home data
7 Mind-Blowing Ways Smart Homes Use Data to Save Your Money
Big Data
ai low code frameworks
AI Can Help Accelerate Development with Low-Code Frameworks
Artificial Intelligence

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

analyst,women,looking,at,kpi,data,on,computer,screen
Analytics

What to Know Before Recruiting an Analyst to Handle Company Data

6 Min Read
data perspective
Big Data

Tackling Bias in AI Translation: A Data Perspective

9 Min Read
demographics big data in marketing
Big Data

The Role of Data in Understanding Demographics for Effective Marketing

7 Min Read
data monetization
Big Data

7 Ways Data Monetization is Changing the Information Technology Job Market

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?