Creating 'Value' From Big Data
In 2013, we saw a significant shift from “experimental" Hadoop projects to real-world production applications of Hadoop. Hadoop is no longer just a cool thing to try, but considered a viable enterprise platform. Customers across all industries are not only implementing Big Data solutions, but they are also rapidly adopting Data Science as a key strategic initiative.
This brings new business opportunities for vendors, a flurry of choices for customers and with that, naturally, a certain confusion on which platform and which tools to select. For customers, it is not easy to cut through the “marketing noise” and to identify the solution that is best for a specific task.
Can you paint us the picture of how the landscape for this industry segment will change in 2014? What are some of the broader trends you are closely watching?
Everyone is familiar with the “3 Vs” of Big Data, “Volume, Velocity, Variety” which are addressed at the platform level. In 2014, we expect an even stronger focus of the "4th V" as in creating “Value” from Big Data. This will lead to much broader adoption of Predictive Analytics and statistical algorithms which are the critical elements to implement data-driven decisions in the context of Big Data. With this trend, we will see data mining standards like the Predictive Model Markup Language (PMML) shine as they reduce cost and complexity in the operational deployment of Predictive Analytics on Big Data while keeping compatibility to the existing data mining tools.
How would customer spend change in 2014 for the Big Data segment? What makes you think customers will be buying more/ less?
Taking increased spending at the platform level as given to meet business demand, we especially anticipate a much bigger emphasis on Predictive Analytics as compared to descriptive analytics (basic reporting capabilities, dashboards, etc.). Therefore, we expect customers to focus more attention on data mining and advanced analytics tools that increase the value of the existing platform investments in Hadoop or a massively-parallel data warehouse.
What's in store for your company in 2014?
It was a great honor for Zementis to be named as “one of the 20 most promising Big Data companies in 2013” by CIO Review. The Big Data “hype" will continue in 2014, but we are just at the beginning of realizing our data's true value. Following our focus on operational predictive analytics and our vision for a vendor-neutral, platform-independent deployment, Zementis will continue to expand its solutions related to Big Data and real-time scoring. Watch for new partnerships and new product announcements in Q1.
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