August - 2015 - issue > In My Opinion

Top Trends Driving Big Data

By Sunil Jose, Managing Director, Teradata India
Monday, July 20, 2015
By Sunil Jose, Managing Director, Teradata India
Teradata India is the Indian arm of Teradata Corporation (NYSE: TDC) which is dedicated to offering Big Data Analytics and marketing applications. Born in 1979 in California, Teradata Corporation has a market cap of $5.34 biillion.

Big Data is not just about data volumes anymore, it could in fact be the key difference that could make or break a business. It could be the game changer for organizations and the key differentiator between market leadership and business failure. It could provide rich insights to organizations, customers and key markets. The trends emerging in India and across the world are encouraging, to say the least for the Big Data industry. Below mentioned are the six Big Data trends that are likely to set the tone for the industry in the second half of 2015:

1) The Business Value of Connection Analytics: Connection analytics analyses individual behavior and associations between these individuals and groups. This information is critical to businesses who are looking to further promote their products and services to specific target audiences. We have also been witnessing a growing trend of users resorting to social media to highlight specific customer care issues. Even though social media analysis isn't all that new, what is really important is the understanding and analysis of consumer behavior on such key platforms - what are the communication channels, who are consumers really talking to and what are they talking about. The rising complexity of connections and the exponential growth of users, has led to the problem of scale, leading to difficulty in the ability to process or interpret results. The explosion of digital data has in fact further added to this problem; however, the recent technological advances are trying to catch up and ride the wave.

2) The Growth of the 'Discovery Zone': Customers continue to interact with each other via social media platforms. There is a growing need for the companies' to not only track these conversations, but also understand the nitty-gritties of how customers behave online. Advanced analytics and the speed of data access could be a game changer for businesses in 2015. The latter would ensure that companies retain their competitive advantage that comes from processing real-time information. The need for this is expected to grow at a stable pace in India and across the world, moving towards a new data research and development hub of analytics called the 'discovery zone'.

3) Making Big Data Accessible: It is important to initially establish the investment priorities, and then it will not be too hard to find software and analytics vendors who can develop applications and algorithmic models to address them. Most of these packages would be cost-effective, easier and faster to install than when built internally. Planning efforts should balance the need for affordability and speed with the need for a mix of data and modeling approaches that reflect business realities.

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