For all the talk about the importance of making decisions based on solid data, most companies still struggle to understand what data they have and how to get at it to actually use it.
Your company has taken the time to ensure you are capturing as much data as possible whether it’s structured, unstructured or semi-structured. You also purchased the best BI tools to help you analyze your data for insights. But there’s a problem. There are serious gaps in the data supply chain.
You’ve got Big Data? Sure, everyone’s got it. But how many organizations have indexed it all? The volume, variety, and velocity of data in a typical enterprise has by far outpaced the ability to catalog it in an orderly, easy-to-retrieve fashion. Along comes automated big data profiling.
Your data lake needs a survey, along with the data warehouse and all the silos. Many enterprises “see” only about 10 percent of their data. The other 90 percent is hidden, dark. It goes unused because it’s too difficult and time-consuming to comb through the dark data and find the connections.
Naturally, everyone looks to IT. Why don’t they have a master index of all the organization’s data? Probably because most big data profiling is done manually, and that’s slow going. What’s also slow is the line of business users out the door who are just waiting for data sets.
Today we announced an expanded relationship with PerkinElmer, a global leader focused on improving the health and safety of people and the environment, making them the exclusive OEM of Attivio licenses in the life sciences vertical. With this new partnership, PerkinElmer’s deep expertise across life science fields will be coupled with Attivio’s data discovery solutions, resulting in accelerated big data analysis projects.
Big Data Analytics for Life Sciences
Like other industries, life sciences grapples with finding the best ways to derive value from the massive volumes of data available to them.
For all the talk about competing on analytics, little is said about what that takes. Strong visualization? Speed? Easy to use tools? It takes all that, of course, but one thing comes first: ready access to the data — the right data, for the people who need it, when they need it. As I said in my 5 predictions for BI and Big Data in 2016 post, without access to all your data, competing with analytics is just talk.
There is no mistaking the ever greater demand for data — good and usable data for a variety of purposes. The demand is growing fast for data to sharpen focus on customers, help make internal processes run leaner, and to lend certainty to strategic decisions, to name a few. Yet too often the right data can’t be harnessed and remains untapped.
As Nate Silver points out often—and humorously—in his book The Signal and the Noise, the world is full of noisy data. Inside the untapped potential of Big Data and Business Intelligence is the signal. When the power of data is fully harnessed, it enables executives to transform productivity and act with certainty. My predictions for 2016 are about the trends that move businesses through the noise to truly leverage information as a strategic asset.
The short answer: “To get them out of their hair.” But seriously…
At Attivio, we work with decision-makers at various companies who own and administer the BI infrastructure. We call them “BI tech owners.” A BI tech owner’s team governs data and delivers it to business users for analysis.
BI tech owners are not in an enviable position at the moment. The proliferation of self-service analytical tools for Big Data and BI have generated orders of magnitude increases in requests for data. And those requests all come with an ASAP attached.
Before joining Attivio, I worked for several years at Tibco Spotfire. It was a great experience. I was on the front lines as the worlds of Big Data and Business Intelligence (BI) collided.
Traditionally, companies relied on canned BI reports to help them understand historical data. Such reporting solutions have been around for decades. It was, therefore, very exciting to see that massive market disrupted by data discovery and analytic solutions such as Tableau, QlikTech, and Tibco Spotfire. These new, easy-to-use, data visualization tools helped analysts, researchers, and data scientists quickly self-serve insights from massive data volumes.
Instead of relying on a combination of static reports and massive spreadsheets to manually comb through huge data sets—an unreliable process that could take months—the new data discovery and analytic solutions instantly revealed trends, patterns, and outliers in mere moments, with just a few clicks.
How Data Virtualization Drives Secure, Agile, Enterprise BI
If you believe that the convergence of Big Data and Big Analysis is a ‘half full’ opportunity, chances are you’re familiar with and engaged in the implementation of data virtualization to accelerate the move to data democracy in your organization. New tools extend the franchise for secure, well-governed data provisioning – offering the ease of self-service and/or dramatic gains in IT productivity. By eliminating many of the costs and risks associated with traditional data integration methods, virtual data marts break the bottleneck between data management and data analysis.
To some extent, virtually all business decision makers rely on business intelligence (BI) analytics and reporting. And, according to an online survey conducted by Forrester Research in 2014, more that 40 percent of organizations using BI achieve double-digit ROI on their investments within two years.  Not only that, but top performing companies tend to spend a greater percentage of their IT budgets on BI.  So it’s all good in the world of BI, right? Not exactly.