Authors Examine the Challenges Businesses Face in Rapidly Processing Increasing Amounts of Data and Identify Key Factors for Gleaning Useful Insights that Positively Impact the Bottom Line
FALLS CHURCH, Va., Sept. 12 – CSC’s Leading Edge Forum (NYSE: CSC) today released a report that explores the emerging interest of commercial and government organizations in “big data.” After studying the organizations and technologies leading this trend, the authors concluded that an organization’s internal data, while an asset, is not enough to fully unlock its massive potential unless combined with external data.
Titled “Data rEvolution,” the report analyzes business-related information consumption today and describes it as equal parts revolutionary and evolutionary. Data is revolutionary for its volume, variety, velocity and potential value. It is generated by numerous sources, both people and machines, adding more complexity and more opportunities to generate insights. New technologies – compute and storage platforms, applications, architectures and communications networks – are also coming to the forefront to interpret data, and therein lies the evolutionary advancement of tying it all together cohesively.
“Great discoveries come from having a broad spectrum of knowledge and the impending ‘Data rEvolution’ promises to open up a world of new insights, products, services, partnerships and roles,” said Paul Gustafson, the report’s lead author and director of CSC’s Leading Edge Forum, Technology Programs. “With data now a key factor in production, its growth and leveragability will be a basis for business innovation for years to come. The data-centered economy is advancing and organizations have to prepare.”
To view a perspective from Gustafson about the key findings and other CSC videos on the topic of big data, visit www.csc.com/bigdatavideo.
The report identifies key factors for leveraging big data:
- 1. Data on Its Own Has Limits – An organization’s data is a valuable asset, but by itself it often has limits. Isolated, proprietary data paints a narrow picture. Answers are incomplete because the data is incomplete.
- 2. Data Wants to Be Shared – Sharing has become a first principle, not an afterthought, that gives purpose to data and ties it all together.
- 3. No One Person Owns the Data – New data connections are forging connections among organizations that need to collaborate on the data. This means no single organization owns all the data – and thus “As a Service” offerings make sense.
- 4. Technology Answers the Call – “As a Service” offerings are just one manifestation of how technology is answering the call for big data processing and sharing. These new approaches, coupled with non-relational and parallel relational databases, and overlaid on a cloud infrastructure, represent the changing data foundation.
- 5. Connecting the Dots Is the New Alchemy – Value lies in completing the data context using new tools and methods to establish relationships and meaning, yielding fresh insights. This connectedness is fueling a new kind of discovery that blends social network and other non-transactional data with traditional transactional data.
- 6. Analyzing, Predicting and Visualizing – With so much data coming in, organizations are challenged to analyze and navigate it in new ways. Increasingly, organizations have better information and tools for looking ahead and are using these capabilities to understand, anticipate and plan – bringing in the era of the “Predictive Enterprise.”
The study analyzes each of these principles using examples and research from large-scale global enterprises, small and medium-sized businesses and government agencies.
As part of CSC’s Office of Innovation, the LEF provides clients with access to a powerful knowledge base and global network of innovative thought leaders who engage technology and business executives on the current and future role of IT. Focusing on the practical use of technology, the LEF offers a CSC point of view on technology trends to help clients understand what will happen in the future and how to benefit from change.
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 93,000 employees and reported revenue of $16.2 billion for the 12 months ended July 1, 2011. For more information, visit the company’s website at www.csc.com.