Dell EMC’s Chief Technology Officers (CTOs) share what the major trends and projects are for unstructured data. Spending a couple of hours with them, you begin to realise it is a beautiful mess.
Since the popular rise of the term ‘Big Data’, companies across all industries and governments all over the world have been working to leverage on the insights which the data can provide. Singapore’s Smart Nation smart lamp post project is exemplary. Using the artificial intelligence backed video and weather analytics, the node is able to generate predictive actionable insights for governance. Likewise, in supply chain, data for blockchain can lower operational costs and boost efficiency.
The CTOs share what are some of the up and coming developments in the technology and the exciting use cases they are working on.
Going Beyond Buzzwords
Not too long ago, data was analysed in a linear fashion. There was a discernible lag between when the data was collected and when the data was churned for insights. These days, explosive volumes of data can be analysed real-time.
The diversity of data collected increases the value of a company. Ben Goodman, Vice President of APJ, Dell EMC, underscored the diversity of data as the biggest opportunity for any organisation; public or private.
From just one set of diverse data, an organisation is able to derive multiple outcomes. The more diverse the data, the higher the company’s valuation. Data is a lucrative digital asset which drives innovation and transformation within organisations.
Secondly, the disruptive economy has kindled a newfound collaborative spirit. Once an industry taboo, the new mindset is one of survival for the entire industry. By sharing of intellectual properties, collaboration can raise overall industry standards. Experts emphasise both the need for cross pollination between organisations and also deeper integration of services within the industry.
On a separate note, cyber threats permeating the internet also underscore the undesirability of isolation. Time over again, many malicious attacks have been deterred thanks to the sharing of industry knowledge.
Furthermore, current developers no longer aimlessly fiddle with the data they have access to. Data’s significance and meaning has been raised. In the past, data scientists might have had no intent behind their work. Goodman suggests that it is like finding a diamond where there be none.
These days, there is a more focused approach to how to use the data. Beginning with the customer or end-user in mind, the big data is channelled to creating IoT infrastructure. Consequently, to help customers have the best experience of IoT, new frontiers in machine learning or deep learning are being explored to plug gaps in the system.
Links between the chain reinforce the impetus for organisations to constantly innovate and be on the forefront of the digital revolution.
Industries which are seeing incredible growth thanks to the big data analytics are life sciences, automotive, financial services, media and entertainment and government.
Prophesying any new technology might be too bold a move to make. Instead, the CTOs did believe that there would be greater evolution in the existing technologies.
Blockchain in particular will see huge improvements in the way it functions to deliver services. Over the next two years or so, the technology will overcome performance bottlenecks. Anxiously gripping your mobile device wondering if the bitcoin has transacted will be assuaged. The tech community is working to make blockchain faster and smarter in how transactions occur, raising its usability for a whole range of organisations and use cases.
Swat the Opportunities
Despite the massive opportunities for many sectors, some structural problems remain. The biggest hurdle is talent. Secondly, many organisations are still in the dark about how to use the data they have collected in the best and most cost-effective manner.