Who will survive in the world of big data?

09 May 2017 by Marvin Mitchell
When we look at the current digital transformation that is sweeping companies, it is truly a transformation in every sense of the word. One area that is constantly on the lips of C-Suite executives is that of Big Data. So, what is it, and how do you use it to your advantage?

Big data has been around for years; it is only of late that organizations have gained a greater understanding of the power of capturing all the data that streams into their businesses and applied analytics to get significant value from it. Is it new? Organizations have been using analytics for decades to uncover trends and insights. The term “Big Data”, in use since the 1990s, addresses the world’s technological per-capita capacity to store and generate data.

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Big data scientists point to the benefits of running analytics on big data: speed, efficiency and ultimately a competitive edge. Who would not want this? I cannot think of any organization. Organizations today understand the need to harness the data and extract value from it but are quickly realizing that it is easier said than done. While most executives would point to hurdles of leadership and insufficient talent as the challenges of meeting digital priorities, there is also the paradox of choice.

(The blog post continues under illustration)

(Source for illustration by FirstMark

The picture above represents the big data landscape which grows daily with a rush of big data focused startups eager to satisfy the growing list organizations saying that they have spent or plan to spend on advanced big data infrastructure. It must be noted that 70% of all startups fail within 12 months of operations so from a vendor and consumer perspective it is not for the faint hearted and it is evolution in every sense of the word.

You can also read more on the 2017 Big Data Landscape by Matt Turck here

1. Overpopulation - More individuals born than can survive.

2. Competition - Limited resources – Some will survive some will not.

3. Variation - Differences among individuals – Mutations.

4. Adaptation - Some variation will give entities a slight survival advantage.

5. Natural selection – Those with the best traits survive.

So it begs the question: What does natural selection look like?

I believe the following points will be the tenets of natural selection;

1. One stop shop: He who builds the biggest wagon will get to carry the most goods. A strong brand, history of performance, domain expertise and strategic market associations are integral ingredients of the recipe.

2. Talent: The McKinsey Global Institute states that the market will be short 1.7 million capable big data professionals in the United States by 2018 -- about the same time that the U.S. data market is set to be worth $41.5 billion. As the category expands, the skills gap will widen.

3. KISS: Keep it straight and simple. The ability to easily collect, manage, and analyze data from various sources makes the most attractive service offering.

Cutting through the noise of big data and, more importantly, the paradox of choice are serious challenges of the future.

About the writer
Marvin Mitchell
Current VP Customer Support at Kongsberg Digital where our mission is building long lasting relationships with our customers. We view best in class support as essential to KONGSBERG’s growth and success and strive for a customer support experience recognized as unique in our industry for its exceptional level of quality and expertise.