Beyond Big Data
For many industries, big data has been a game changer. It has reshaped the insurance industry, for instance, through accurate risk assessments, usage-based pricing and effective fraud detection. In healthcare, improved analytics are transforming disease management, population health and clinical decision systems, while machine learning is expected to save the industry $300 billion a year.
And in the manufacturing industry, insights gained from big data are influencing everything from product design to employee allocation, supply chain optimization to product testing, and machine floor maintenance to predictive product maintenance.
Turning Data into Knowledge
Today, great amounts of data are being generated by the Internet of Things (IoT). Until very recently, all of this data could only be used “in the minute.” But now you can stream large sets of data in real time, process it and store it long-term. So not only can you access data that you didn’t have before; you can also use it in new and interesting ways to enable better decisions and more actionable insights.
However, to truly make sense of the Internet of Things, you need to leverage the Analytics of Things. Analytics delivers insights about the past, present and future to help you capitalize on your data.
Breakthroughs occur when different types of data intersect: structured and unstructured; internal to an organization or external. When you harness all the components of big data, your enterprise has the power to identify new and better ways to serve, produce, optimize and lead.
Four Steps to Operationalizing Your Data
As big data becomes more important, companies need to find efficient ways to capture and make use of it. We believe there are four areas where companies can take action to operationalize their data:
- Implement a flexible platform that paves the way for integrated intelligent applications.
- Connect the physical world to the virtual world.
- Drive intelligence from data to find new opportunities and avoid risk.
- Gain insights with agile analytics and reporting that works.
Tying It All Together
Creating an analytics platform is a substantial achievement. But there are additional steps you need to take to remove operational roadblocks and tie together all the capabilities that will allow you to make full use of your analytics environment.
Well-thought-out systems integration gets you to a mature analytics capability easier and quicker. Start by assessing your current analytics capabilities and developing a roadmap to achieve the goals of your analytics project. You’ll then be in a better position to ingest data, develop analytics algorithms and visualize the results. Lastly, you can ensure success by establishing a governance process for your data, disaster-recovery capabilities for business-critical services and integration with enterprise applications.
Gain True Business Value
With an analytics platform, you can close the gap between the acquisition of data and its meaningful use. You’ll be able to integrate data more firmly into the decision-making process. And with actionable analytics insights, you can leverage your big data to increase output and productivity, boost asset utilization, improve return on equity and gain competitive advantage.
CSC helps its clients leverage the Analytics of Things to make sense of the Internet of Things. Our Big Data Platform as a Service, along with full integration services and a growing enterprise repository, jump-starts your analytics capabilities.
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