Across industries, enterprises face four major challenges when rolling out a Big Data plan. As a recent series of HP Software white papers point out, “While ‘big’ is part of the data challenge enterprises now face, it doesn’t tell the whole story. Volume is one element of the problem. Three additional Vs complete the picture: variety, velocity, and vulnerability.”
In the white paper titled “Data-driven government,” the HP authors note that the challenge isn’t just collecting and storing information, but also managing legacy data.
Citing figures from McKinsey Global Institute and TechAmerica Foundation’s Federal Big Data Commission, the authors write: “The U.S. Government produces more than 900 petabytes of data a year, and data for U.S. Healthcare will soon reach yottabyte scale. By 2015, it is expected that 7.9 zettabytes of data will be produced—enough to fill 135.7 billion 64-gigabyte iPads.”
For reference, a petabyte is 1,000 terabytes, a zettabyte is a billion terabytes, and a yottabyte is a trillion terabytes. Already, the numbers involved are larger than the human mind can begin to fathom.
When it comes to variety, IT Operations probably deals with the most types of data. In the “Rethink IT analytics” white paper, the authors write that “It’s the variety of data streams and our ability to correlate and analyze across them in a timely manner that allows IT operations analytics to create true value.”
Consider everything IT operations handles:
- Logs from networks, applications, clients, and infrastructure components
- Logs from smart devices and sensors (now or in the future)
- Business outcome information
- Security event logs
- Help desk interactions with customers, as well as application development teams
- Performance metrics
- Application license usage
- IT staff utilization and shortages
- Service hierarchy information
Retail is the industry that most acutely feels Big Data velocity, or lack thereof, and this affects the bottom line. “If you can’t analyze it in real time, you’ve lost the sales opportunity,” according to “Cash in on Big Data.”
“Analyzing the micro-transaction instantly, comparing it to overall knowledge of that customer and knowing what proposition to make—be it online or in-store—is the challenge. In previous decades, success in retail has come down to overnight batch-processing. But yesterday’s technology is no longer suitable,” the authors say.
Across industries, everyone shares the same worries when it comes to vulnerabilities: Securing a vast and growing volume of critical information is no small job.
So, what’s your next move? Each of the white papers above has industry-specific questions that can help in charting your future. HP Sofware’s HAVEn is a platform that transforms Big Data into business solutions.
For more on the future of Big Data analytics, download the Marketing 20/20 ebook chapter for insight on the new reality of split-second decisions and marketing by the numbers.