Data warehousing is a success, judging by its 25 year history of use across all industries. Business intelligence met the needs it was designed for: to give non-technical people within the organization access to important, shared data. The resulting improvements in all aspects of business operations are hard to dispute when compared to the prior era of static batch reporting.
Companies have been striving to harness and leverage the power of their data assets for decades. Now major U.S. corporations and government agencies are finally realizing business value from Big Data. That is the finding of a survey and series of follow-up interviews conducted by NewVantage Partners with C-level executives and function heads representing companies and government agencies during the second half of 2012.
Click streams, social media, log files—a growing mountain of valuable data looms above you. You’ve taken countless steps to capture and utilize your company’s structured data, but despite your efforts, it seems you have made no progress in the arduous trek to the summit. You know that there is a wealth of lucrative business information waiting for you at the top, but how can you possibly reach it when the mountain of data is growing before your very eyes?
There is a new universe of data being created by smart meters, mobile devices, social media, RFID, web logs, and other sources. Meanwhile, many industries have only begun exiting the paper-based documentation era. It’s no longer the case that all possible insights about an organization come only from a structured data warehouse full of vetted data developed inside one’s own four walls. Embracing big data means accepting that you can gain valuable insights about your organization, your customers, and the world at large from external sources, and by looking at data in a new way.
Financial markets are rarely predictable. What moves a price one day might have no effect the next, or it might be felt several steps away from where it’s expected. That’s where market sensing plays a role. Broadly defined, Market Sensing is the ability to bring as much relevant information as possible, to bear on trading and risk decision-making.