Sunday, October 7, 2012

Today's Biggest Success Tip: Predictive Analytics using Big Data

Are you looking to change your life? If you answered "Absolutely!" then prepare yourself to take advantage of one of today's biggest opportunities: Predictive Analytics using Big Data.

Trends such as globalization, economic uncertainty, and rapidly changing technology have shaken up our society. Right now, we face several major disruptions within computer technology: Cloud, Personalized Assistants (tablets, smartphones, and other mobile devices), Social Media, Big Data, and Analytics.

Ten years from now, all of these trends will have transported us into a completely new business environment.

A connected population of billions of people generates a massive amount of data which, properly digested and analyzed, will lead to an explosion of knowledge. Smart people will leverage this knowledge to take beneficial action, either for themselves personally or for the good of others.

Technologies such as Hadoop and Map/Reduce emerged to enable storing large amounts of unstructured data. Companies will combine their traditional data warehouses containing structured enterprise data with unstructured mountains of external data and store the results in the cloud (using services such as Amazon AWS/EC2, Rackspace, Microsoft Azure, or Google App Engines).

After storage comes the application of algorithms to make sense of the data. Computer programming languages (such as Java, Python, C/C++, and R) that can perform large data set techniques (e.g., regression, classification, natural language processing, clustering, collaborative filtering, and machine learning) will be enhanced with toolkits (such as Weka, OpenNLP, and NLTK) and evolve into entire frameworks for analyzing Big Data, finding patterns, reducing uncertainties, and enabling new decisions and actions.

With all these technologies, our challenge will then be to identify the questions we want to ask of the data.

If you could solve a world problem (or make millions of dollars) if you had answers to just a few difficult questions, wouldn't you start today to gather the data?   

2 comments:

Frank Poladi said...

Thanks for the tip.

logiciel said...

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About Me

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I am a project-based consultant, helping data-intensive firms use agile methods and automation tools to replace legacy reporting and bring in modern BI/Analytics to leverage Social, Cloud, Mobile, Big Data, Visualizations, and Predictive Analytics. For several world-class vendors, I led services teams specializing in providing software implementation and custom application development. Based on scores of successful engagements, I have assembled proven methodologies and automated software tools.

During twenty years of technical consulting, I have been blessed to work with smart people from some of the world's most respected organizations, including: FedEx, Procter & Gamble, Nationwide, The Wendy's Company, The Kroger Co., JPMorgan Chase, MasterCard, Bank of America Merrill Lynch, Siemens, American Express, and others.

I was educated at Valparaiso University and the University of Cincinnati, graduating summa cum laude. In 1990, I joined Information Builders, the vendor of WebFOCUS BI and iWay enterprise integration products, and for over a dozen years served in branch leadership roles. For several years, I also led technical teams within Cincom Systems' ERP software product group and the custom software services arm of Xerox.

Since 2007, I have provided enterprise BI services such as: strategic advice; architecture, design, and software application development of intelligence systems (interactive dashboards and mobile); data warehousing; and automated modernization of legacy reporting.