Big Data is the voluminous amount of unstructured and semi-structured data a company creates. That means big challenges – but even bigger opportunities for achieving unprecedented business value. High-performance analytics holds the key. “Big data is more than simply a matter of size; it is an opportunity to find insights in new and emerging types of data and content, to make the business more prompt and relevant. Organizations looking for optimal ways to gain insights from big data in shorter reporting windows to draw instant benefits from big data.”
SAS has the solution where it addresses big data issues by combining industry-leading analytics software with high-performance analytics technologies to produce fast and precise answers to seemingly unsolvable problems – enabling organisations to gain greater competitive advantage.
Derive Strategies:
With high-performance analytics, organizations can efficiently mine data for insights to drive new strategies for customer acquisition, customer retention, campaign optimization, and next-best offers. Industries that are looking for Big Data’ analytics include banking, retail, public sector, health care, insurance, government, communications, hospitality and more.
Getting faster answers reveals previously unseen patterns, sentiments and relationships that can transform the way a company does business — opening doors to new opportunities, catching fraud faster, and addressing customer needs even before they are identified by the customer. High-Performance Analytics supports customers in their ongoing analytic endeavors no matter how big their big data demands get, or how complex analysis needs become.
Personalization:
High-performance analytics also caters for analytics up to personalization level whereby it is possible to perform visualization of trends based on a single person point of view. This requires ‘big data’ and big resources to accomplish.
Without a considerably strong technology, performing such analysis is simply impossible. It all boils down to how fast and how much data an analytics process can digest within a single execution per se. This is because by the next moment, new data may have come in and trends will bend.
Other benefits of High-performance analytics include :
- Real time
- Automation
- Predictive
- Fast
- Accurate
- Data variety
But yet if we talk about big data, the scope is still too broad and therefore it is essential that customer must have goals and know the objectives when considering for big data analysis.
SAS together with IDC, held a round table discussion with CIOs of respectively industries in Malaysia, particularly those from banking, telecommunication and public sectors. The purpose of the discussion was to get in touch with these leaders of respective industries to educate and also to consult their point of views in terms of big data.
It was learned that most of them shared a few common feedbacks which are:
1.) Most are adopting the wait-and-see approach
2.) Data governance is something that they are concerned with
3.) Stakeholder’s management – how do we use data that is not belonged to us, do we have to consider providing royalty ?
4.) Skills issues – most enterprises lack the know-how to fully utilize analytics technology. SAS is always actively working with education institutions to provide students with skillsets and competency in the area of analytics before they join the workforce.
5.) Mobility – is the biggest driver for anything now, including analytics. Enterprise is looking to empower employees with mobile visual analytics now!
And according to Phillip Carter, associate VP IT services of IDC, he feels that the biggest thing that CIOs should worry about is the business sponsorship. In other words, someone or some entities within an organization must somehow show initiative to sponsor the cost of the project even if it is obtaining funds from third-parties. In other to achieve this, the objectives of implementation must be clear-cut, otherwise ROI is hard to derive.
According to Helen Lim (Director of Presales, Financial Services Industry, SAS Malaysia), infrastructure availability is also a challenge in order to adopt High-performance analytics. However, this can be addressed via cloud computing solutions.
Iriani Kamaluddin (Director, Marketing SAS Malaysia) thinks that big data analytics is now!
