The hype about big data is over. Today, it is widely acknowledged that data is the currency of business; we are in the post-big data era. We have moved from using data to inform business decisions to running businesses on data.
The Extreme Data Economy is exactly this, a new era in which the foundations of business and trade are built on the value generated from all different kinds of data from users, devices, and things.
As our hunger for data continues to increase, so does the amount of data we generate. However big data has never been about the volume, velocity and variety alone. More important is the fact that big data is unstructured. It doesn’t fit into the predefined rows and columns of a spreadsheet or tables in a database.
In the Extreme Data Economy, data is not just unstructured, it has become unpredictable and analysis of it has become more complex. The sources of data available are increasing all the time. This data pool to which we have access is far from static and the data sources continue to evolve. For example, the mobile phone is an interesting source of ever changing data. It is well known that mobile phones can record location information; however, it is not so well known that mobile phones can listen to your surroundings even when they are in standby and capture audio data.
Much of this information is not yet being captured and used for analysis, but increasingly it will be. This leads to potential use cases like matching you with a ride driver that has the same music taste as you. This kind of data-driven personalisation is the competitive edge that extreme data has the potential to deliver.
We need systems that can adapt quickly and process enormous amounts of new and varied data sources in real-time. It is not only about answering a question, but also about using the data to build new, innovative products and services.
A new wave of companies are building the technology that enables us to handle this extreme data. Kinetica is one such company, leveraging the power of GPUs for advanced analytics, location-based visualisation, and streamlined machine learning to gain insight from huge volumes of complex, unpredictable data. Originally founded to help the U.S. military make sense of millions of data points in real-time to identify national security threats, Kinetica now helps businesses across industries–including financial services, telecommunications, retail, healthcare, automotive, and energy–to analyse extreme data. Kinetica has partnered with Dell EMC to offer an advanced analytics platform built for the age of extreme data.
As the Extreme Data Economy grows, every organisation will need to leverage new types of data in new ways. The only given about predictive analytics is that the data source you use today is going to be vastly different by tomorrow. As a result, you will need to find new solutions as well.
To find out more about Kinetica and their GPU-accelerated solution with Dell EMC, click here.