5 Big Data News You Should Know Today - 19 October 2012
Introducing from today, 5 Big Data news of the day.
1. IBM Takes a Big Data Approach to Security
Companies will spend an estimated $50 billion on computer security this year, but they are not feeling particularly secure these days.
Blame innovation, if you like. Every big digital advance opens the door to both opportunity and mischief. Smartphones, cloud computing and the data explosion promise a revolution in communications, cost-savings and knowledge discovery. But those three trends in technology also create security headaches.
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2. Big Data Hype (and Reality)
The potential of "big data" has been receiving tremendous attention lately, and not just on HBR's site. With interest in the topic growing exponentially, it has been the focus of countless articles and perhaps too many meetings and conferences.
But to the extent that big data will have big impact, it might not be in the classic territory addressed by analytics. Most applications of data mining and analysis have been, at their hearts, attempts to get better at prediction. Decision-makers want to understand the patterns in the past and present in order to anticipate what is most likely to happen in the future. As big data offers unprecedented awareness of phenomena — particularly of consumers' actions and attitudes — will we see much improvement on the predictions of previous-generation methods? Let's look at the evidence so far, in three areas where better prediction of consumer behavior would clearly be valuable.
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3. Twitter: The human face of big data
Every day, Twitter users send 400 million Tweets expressing a vast array of ideas and opinions. Collectively, and studied in aggregate, public Tweets are not only measurable. They can reveal any number of clues and trends about who we are: our cultures, our mindsets, who we favor or disfavor, and much more.
For instance, analyzing billions of Tweets helped two researchers unlock new insightsabout public health issues and the way disease is spread.
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4. BloomReach nets $25M to turn big data into marketing gold
BloomReach raked in $25 million in new venture funding in a C Series round led by New Enterprise Associates, bringing total venture funding to a healthy $41 million. The be-all-and-end-all for BloomReach, which emerged from stealth in February, is to help online retailers make the stuff they sell more easily found by would-be buyers so they’ll actually sell more of it.
As BloomReach CEO Raj De Datta told my colleague Derrick Harris early this year, companies don’t know how to show off their product catalogs in a way that best aligns with how customers search. Less than a quarter of web pages get any traffic from natural or paid search in a given month – a problem that will only get worse as the amount of online data grows. Their products are needles in an ever-expanding haystack. But if they know how people are searching for things and learn how to display their content better to suit that behavior, they can boost discoverability and thus sales.
“Understanding relevance of content to the way people express themselves turns out to be a difficult problem,” De Datta told Harris.
Read More
5. Big Data to drive $28bn of IT spending: Gartner
The figure is expected to increase to $34bn by 2013.
1. IBM Takes a Big Data Approach to Security
Companies will spend an estimated $50 billion on computer security this year, but they are not feeling particularly secure these days.
Blame innovation, if you like. Every big digital advance opens the door to both opportunity and mischief. Smartphones, cloud computing and the data explosion promise a revolution in communications, cost-savings and knowledge discovery. But those three trends in technology also create security headaches.
Read More
2. Big Data Hype (and Reality)
The potential of "big data" has been receiving tremendous attention lately, and not just on HBR's site. With interest in the topic growing exponentially, it has been the focus of countless articles and perhaps too many meetings and conferences.
But to the extent that big data will have big impact, it might not be in the classic territory addressed by analytics. Most applications of data mining and analysis have been, at their hearts, attempts to get better at prediction. Decision-makers want to understand the patterns in the past and present in order to anticipate what is most likely to happen in the future. As big data offers unprecedented awareness of phenomena — particularly of consumers' actions and attitudes — will we see much improvement on the predictions of previous-generation methods? Let's look at the evidence so far, in three areas where better prediction of consumer behavior would clearly be valuable.
Read More
3. Twitter: The human face of big data
Every day, Twitter users send 400 million Tweets expressing a vast array of ideas and opinions. Collectively, and studied in aggregate, public Tweets are not only measurable. They can reveal any number of clues and trends about who we are: our cultures, our mindsets, who we favor or disfavor, and much more.
For instance, analyzing billions of Tweets helped two researchers unlock new insightsabout public health issues and the way disease is spread.
Read More
4. BloomReach nets $25M to turn big data into marketing gold
BloomReach raked in $25 million in new venture funding in a C Series round led by New Enterprise Associates, bringing total venture funding to a healthy $41 million. The be-all-and-end-all for BloomReach, which emerged from stealth in February, is to help online retailers make the stuff they sell more easily found by would-be buyers so they’ll actually sell more of it.
As BloomReach CEO Raj De Datta told my colleague Derrick Harris early this year, companies don’t know how to show off their product catalogs in a way that best aligns with how customers search. Less than a quarter of web pages get any traffic from natural or paid search in a given month – a problem that will only get worse as the amount of online data grows. Their products are needles in an ever-expanding haystack. But if they know how people are searching for things and learn how to display their content better to suit that behavior, they can boost discoverability and thus sales.
“Understanding relevance of content to the way people express themselves turns out to be a difficult problem,” De Datta told Harris.
Read More
5. Big Data to drive $28bn of IT spending: Gartner
The figure is expected to increase to $34bn by 2013.
The rise in businesses dealing with more information will see Big Bata contribute $28bn to global IT spending in 2012, according to a new report from Gartner.Gartner revealed that the figure is expected to increase to $34bn by 2013, with 10% of new spending each year swayed by investment in big data, when compared to storage software, database management system, data integration/quality, business intelligence or supply chain management (SCM).
Currently, most Big Data spending is used on deploying traditional solutions to the Big Data demands, including machine data, social data, widely varied data and unpredictable velocity.
The research firm also revealed that the demands for new Big Data functionality in 2012 will directly drive only about $4.3bn of sales of software.
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