With the proliferation of data in almost every sector, most firms have already changed the way they make big decisions, with management around the world relying relying on greater use of specialised analytic tools and techniques, employing a dedicated data insights teams to inform strategic decisions and relying on enhanced data analysis. In fact, close to one in three corporate execs describe big decision making at their company as highly data-driven, according to the Guts versus Gigabytes report from PwC.
Ever get the feeling that Big Data is too, well, Big? HP thinks so and has launched its ‘Business Intelligence Modernisation Services’ to take on the size issue.
UK-based innovation programme IC tomorrow has launched its Connected Cities Innovation Contest, offering six digital start-ups and SMEs the opportunity to share a £210,000 fund and trial their ideas with the likes of EDF Energy, Intel, Siemens, Kimberly Clark, Amey and Ordnance Survey. Entrants need to come up with innovative ideas to solve urban challenges in the areas of connected buildings, connected communities, connected environment and connected services, and successful applicants will be expected to trial their proposed solutions with industry partners for three months.
Big Football needs Big Data, and Bundesliga champions Bayern Munich has cut a deal with SAP making it the club’s three-year official partner for sport analytics and enterprise software. The idea is that data will go a long way to help expand Bayern’s global presence, improve the team’s athletic performance and enhance the experience for fans around the world (there are an estimated 292 million of them). The German club already uses SAP software for data analysis and for ticketing but it will also be extended to the pitch with a view to, for example, minimising injury risks. SAP also believes it can help improve player performance.
Some people are getting really excited about how big Big Data is getting.
There’s pushback on Big Data, sometimes better known as ‘a revolution that will transform how we live, work, and think’ (a modestly titled book from Kenneth Cukier and Viktor Mayer-Schönberger), writes Steve Mullins. Transformation? Netflix boasts that Big Data helped it understand that House of Cards would be a huge hit with its audience because a bit of number-crunching informed it that director David Fincher (The Social Network) was popular, that people liked watching Kevin Spacey, and that the UK version of Cards had performed well.
Big Data drives better decision making, with execs unlikely to make if a move if they can’t back it with the numbers. That’s the rather predictable take of the Economist Intelligence Unit in its Decisive Action: How Businesses Make Decisions & How They Could do it Better report. “Organisations that can use their data effectively to make decisions in this ever-changing and complex world will thrive; those that do not will perish,” the EIU says in its standard black-and-white take.
The UK’s digital economy will fail to reach its full economic and social potential without the application of design to ensure people, not technology, are at the centre of the digital revolution, according to a new report, Designing the Digital Economy, from the Design Commission. But what about Big Data? you may ask. Well, while Big Data is driving the new industrial revolution, without design, such information is at worst meaningless, at best sub-optimal, says the report. Young designers now are not necessarily being taught how to use data. And while government has demonstrated a commitment to making public data open for use, there is still limited functionality, utility or relevance in simply making the data available.