Friday Data Stories: Big Data and how far data can take you

Big Data is trending.  According to some sources, there is a confounding amount of data generated on a daily basis.  Navigate to this interesting infographic to see what I mean.

The way I see it, if a company is not thinking or planning ways of getting value out of all that data being generated, they will be at a strategic disadvantage.  This is especially true for manufacturing companies where data, decision making, innovation, and competitiveness are all closely coupled together.  But how far can data take you and your organization, especially when there is so much of it?

I just read an interesting commentary on Cnet, Data isn’t always the answer.  The commentary argues that big data is overhyped and not necessarily the answer to problems in most organizations.  I read the article with interest as I appreciate getting a different perspective on a topic I am learning more about each day.  Here’s a passage that really grabbed my attention:

It’s hard to argue that larger volumes of data, increasingly available at nearly the instant it’s generated, won’t play a bigger and bigger part in any number of applications — both for good and ill. However, as Big Data hype accelerates, it’s also useful to maintain an appropriate level of skepticism. While data can indeed lead to better results, this won’t always be the case. The numbers don’t always speak for themselves and sometimes the underlying science to apply data, however plentiful, in a useful way just doesn’t exist.

According to Cnet, some data can be just noise and not information.  The Cnet commentary also cited IBM’s “Smarter Planet” initiative which is an attempt by IBM to help people capture meaning and value out of all that data being created on a daily basis.  So IBM is trying to help people separate the noise from the data. Here’s a video taken from IBM’s Smarter Planet site I found interesting:

So how does this all relate to Inforbix?  It is irrefutable that the amount of data is growing and everyone is trying to figure out how to get the most of it.  The question of how far can all that data take you is a good question.  And I don’t think there is a single answer.  What Inforbix believes is this: having an easy to use no maintenance tool that lets you aggregate, find, access, and share data in your company is probably a useful thing.  You the user can then decide what data is noise and what is information.

Conclusion.  The question is not how far data will take you, rather, the question is can all data in your company be exposed in a smart way to allow better decision making and innovation?   Inforbix is thinking of ways of helping people in manufacturing companies get more out of their data using web, cloud, and semantic technology; no matter how the data is sourced, where its located, or how much of it there is. If you or your company are thinking of ways to better take advantage of data and taking it as far as possible, then register today and try Inforbix for free.

Best, Oleg

Image courtesy of Mashable article