Big Data is Getting Even Bigger
Big Data is on the verge of becoming synonymous with all data science. Countless companies have decided it’s time to Go Big or Go Home. According to just about every tech industry publication under the sun, the quantity of Big Data projects put into production is increasing at an exponential pace. Does that mean the top brass are finally beginning to buy into Big Data en masse?
Well, not entirely. While the CEOs and CIOs of many top-tier corporations are completely sold on Big Data, the technology is still new and somewhat nuanced for others. So where is all this Big Data buy-in coming from? Mostly from the middle managers and the troops on the ground. Operations teams find they get better results from Big Data applications, so that’s where they choose to invest their time and resources.
What’s begun happening at a more rapid pace is top managers and executives are creating expectations of their research and development teams. Members of those teams are given the latitude to choose the tools and tech solutions that best fit their goals. Increasingly, that answer involves Big Data.
Some recent examples in the news? Redwood Logistics CIO Eric Rempel has gone on record that his people ask for more and better ways to analyze data. Because he knows they know their jobs, he is beginning to come around to their way of thinking. Rempel said his interest in data science comes from a desire to use Big Data to determine trends and make accurate predictions of where the market is going and what businesses will need when those shifts occur.
Rempel is not the only CIO intrigued by Big Data’s ability to make accurate predictions about market trends. Some drug companies are using data science to analyze their segmented sales information. They are attempting to answer questions like “How can we be more efficient with hospitals” or “how can our interactions with retail pharmacies yield better results without sacrificing patient care?”
Those same hospitals and retail pharmacies use Big Data to track and analyze perishable and protected pharmaceutical stores. How can supply chains by optimized while patient care is protected or bettered? How can we offer more and waste less? Answers to these questions and many other questions are found in Big Data applications. And it isn’t necessarily the CEOs asking. It’s the middle managers, the administrators, and even the direct care specialists. They all have the same goals, but they all see the processes from a different place and perspective. Big Data can help to bring all of those perspectives together to paint one more efficient, more caring bigger picture.
Whether the push to invest in Big Data comes from the top, the middle or anywhere in the chain of command, at the end of the day, it means the same thing. Companies are investigating and investing in Big Data solutions because their CIOs trust their operations teams and their data scientists trust Big Data.
Gennady Barsky is a real estate mogul and an entrepreneur from NYC.