Welcome!

@BigDataExpo Authors: SmartBear Blog, Liz McMillan, Pat Romanski, William Schmarzo, Yeshim Deniz

Related Topics: @BigDataExpo, @CloudExpo, @ThingsExpo

@BigDataExpo: Article

Rich Data, Poor Data | @CloudExpo #AI #ML #IoT #M2M #BigData

First-party data (the data collected directly from your business activities) is a core asset, & the data rich treat it like cash

Rich Data, Poor Data: What the Data Rich Do - That the Data Poor and the Data Middle Class Do Not!

Generally speaking, there are two kinds of companies in the world: data rich and data poor. The richest of the data rich are easy to name: Google, Facebook, Amazon, Apple. But you don’t need to be at the top of this list to use data to create value. You need to have the tools in place to turn information (data) into action. That’s what the data rich do that the data poor and the data middle class do not.

The Data Rich Treat Data Like Cash
First-party data (the data collected directly from your business activities) is a core asset, and the data rich treat it like cash. They keep their data well organized, accessible and as safe as technology permits. The data rich know that data is a nascent form of currency, and while it is not precisely fungible, it can be traded.

Data Is More Powerful in the Presence of Other Data
The aphorism “The rich get richer and the poor get poorer” applies to data too. So the data rich enhance the value of their first-party data by enriching it with second-party data (other people’s first-party data). Because data is more powerful in the presence of other data (profiles are more actionable than factoids), the results often create exceptional value as well as competitive advantage.

Syndicated data collected in a legal way that allows it to be shared with third parties is generally referred to as third-party data. Some say it has “limited value” – I’m being polite, and I disagree. When obtained from a trusted provider and properly used, the data rich use third-party data to enrich their first- and second-party data. Deterministic matching of this data almost always yields actionable results.

Data Governance
The data rich set strict policies to manage the integrity, availability, usability and security of their data. Is the data accurate? Are we confident in our assessment of the data? Who will own it? Where will it be stored? Who will have rights to use it? How long will we keep it? Are there legal or regulatory concerns? The data rich have data councils that meet regularly to evaluate and modify corporate data governance policies. But the data rich also know that data governance is the job of every employee (remember, data rich companies treat data like cash). The data rich spend time and resources creating centers of excellence around data governance; the data poor do not.

Data Science: Turning Data into Action
Data rich companies have data science departments that are tasked with turning information (data) into action. These departments are built on three foundational skills: computer science, math and domain expertise.

Computer Science: The computer science required to perform data-scientific research is quickly becoming commoditized. You can find SaaS tools, purpose-built computing clouds and open-source software to do some very sophisticated computing at reasonable prices.

Math: The language of mathematics is spoken by legions of math majors graduated from institutions of higher learning worldwide. The math used for data science is well understood, and there is no shortage of trained mathematicians.

Domain Expertise: Because it is proprietary, domain expertise is the single most valuable foundational skill of data science. Data rich companies know that domain expertise is the key to extracting the most value from their data. This is an area where data poor companies can truly compete. If you ask the right questions, it is possible to cobble together enough data to get the right answers and begin your journey to data riches.

Machine Learning and AI
The data rich make their data actionable by using very sophisticated machine learning and AI algorithms. You can too. The pace of technological change is accelerating, and the basic tools for machine learning are already available to anyone who is interested in them. Go analyze some text with Monkey Learn or spend a weekend playing with Amazon Machine Learning. It’s fun and it will help you understand how quickly you will be able to use these types of tools to operate on your data.

Data-Driven Thinking
Data-driven thinking is the key to acting data rich. When the meteorologist says, “Tomorrow it will be 48 degrees with a 60 percent chance of precipitation,” some people might decide to wear a raincoat; others might bring an umbrella. You might decide to ignore the rain warning but to add a sweater to your outfit. Regardless of the conclusion, you have to translate the information (data) into action. Or, to put it another way, use the data to drive your decision-making. The data rich do this full time. You can too.

 

The post Rich Data, Poor Data: What the Data Rich Do – That the Data Poor and the Data Middle Class Do Not! originally appeared here on Shelly Palmer

More Stories By Shelly Palmer

Shelly Palmer is the host of Fox Television’s "Shelly Palmer Digital Living" television show about living and working in a digital world. He is Fox 5′s (WNYW-TV New York) Tech Expert and the host of United Stations Radio Network’s, MediaBytes, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment.

@BigDataExpo Stories
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...