Dealing with big data

Big data is a topic being heavily discussed right now, yet the diverse form it comes in isn’t always considered. 

Talking about this subject, Dominic Johnstone, Crown’s Head of Information Management, said: “The Internet of Things is on the horizon, encouraging businesses to determine how they’ll be able to capture and nurture this data to benefit their organizations. It is clear that those companies who embrace technology whole heartedly can increase their profitability; research shows increases of up to 26 percent, revenue by 9 percent and their market value by 12 percent in comparison to those who don’t.”

“However, the Internet of Things does present many challenges above and beyond the vast amount of internal data that is already being battled with. This is because its formats will, by their diverse nature, be difficult to align and compare. It’s clear that the larger players in the technology space are preparing for this by using cloud-based integration and analysis tools, to enable their business to access relevant information in a meaningful and organized format. This, in turn, allows companies to use standard data and business intelligence tools to understand its meaning in context to their specific business requirements.”

He continued, “The benefits of this technology are wide-reaching – from being able to understand what your customers prefer at a certain time of the day, to passive monitoring of infirm people based on their normal behaviors in the home. Whatever your business, the next industrial revolution, the Internet of Things, is coming – and you would be wise to prepare for it.”

 

*Statistics taken from The Digital Advantage: How digital leaders outperform their peers in every industry by Capgemini Consulting