Thursday 13th of March, Access hosted an introduction to Big Data, what it is and what it means for organisations. The event was held at Google's headquarters with speakers from Access, Isotrak, Renault & Google. The event was attended by 50 different organisations looking to take Big Data by the horns.
For those who missed the event; Big Data is the collection, management and analysis of data on a large scale, both organised and un-organised. But it isn't just down to the volume of data. The novelty in the concept is not just quantity, but incorporates the combination of the '3 v's':
Volume: the always increasing volume of data we produce due to our use of new technologies (smartphones, social media, connected devices…). These new technologies mean we all produce more data in our personal and professional lives. Today the world produces a huge amount of data: 2,72 zettabytes in 2012. And it is not going to stop! Until 2020, this data production will increase to represent 40 zettabytes!
Velocity: this amount of data is generated and then evolves very quickly and as a result the information needs to be analysed and treated very quickly, almost in real time, to take as much advantage of it as possible.
Variety: the last "V" represents the large diversity of the data sources. Indeed, the data produced concerning your market/ your customers is everywhere. It is not only coming from your internal sources but also from social media for example, or other external sources. Well analysed, it represents an opportunity to know the evolution of your market and your activity in real time. The concept of "multiple data sources" is key in the Big Data concept and it is crucial to know how to face this challenge today. It is not possible to build a business intelligence project based only on one data source. You need to combine and cross analyse data to get the most of it.
Presentations by Jason Price at Isotrak, Terry Skelton at Turners, Jean-Louis Wiedemann from Renault in France all talked through how the emergence of Big Data affects their businesses and how they manage it to increase efficiency and competitive advantage.
After initial talks and lunch - courtesy of Google. Delegates and speakers had a chance to network with each other in Google's conference room.
We then heard from Brad Kilshaw, from Google, who talked through their Enterprise offering and how their products fit in with Big Data and can scale to cope with the enormous amounts of data being created every minute.
For the past 15 years, Google have been building the fastest, most powerful, highest quality cloud infrastructure on the planet. The entire event was a great insight into the world of Big Data, and can be simplified; Big Data equals greater understanding of your business allowing you to make informed market and business decisions.
We'd like to thank everyone who spoke, everyone who attended and all the guys at Google who helped to make the event happen.