May 21, 2013, 4:08 PM — IT executives continually evaluate the technology trends that will impact their business in 2013 and beyond. Some simply deploy technology to advance the goals spelled out in business plans. Others take on the role of chief innovation officer and introduce different models of using existing data to generate new revenue and gain insight into who clients are and what they want.
Buzz has certainly surrounded big data for some time, but many IT executives still and wonder how they can begin to leverage the three "V's" of big data-volume, variety and velocity, or the frequency at which data is generated and captured-and augment the value of data for their organization.
Any IT organization considering a big data initiative should consider these five major selling points, which will bring clarity as well as revenue to a company.
1. You'll Manage Data Better
Many of today's data processing platforms let data scientists analyze, collect and sift through various types of data. While it does take some technical know-how to define how the data is collected and stored, many of today's big data and business intelligence tools let users sit in the driver's seat and work with data without going through too many complicated technical steps. (See big data advantage No. 3 below.)
This added layer of abstraction has enabled numerous use cases where data in a wide variety of formats has been successfully mined for specific purposes. One example is real-time video processing. The 2012 Summer Olympic Games in London made heavy use of closed-circuit video, with 1,800 cameras monitoring Olympic Park and the athletes' village. Teams of analysts used applications to process data pertaining to those who were filmed and flag any individuals behaving suspiciously.