Tech wizards and regular business people alike have been “oohing and ahhing” over the insights possible through data mining for years. The question now, according to Peter Lee, president and CEO of RapidMiner (Rapid-I, Inc.), is how can we apply those insights to bring real value to people? Lee told Dave Vellante, cohost of theCUBE, from the SiliconANGLE Media team, that insight without action has no value, and RapidMiner wants to bring the action to customers.

“It’s really about the end result, which is if you can operationalize your predictive insights, there’s significant ROI,” Lee stated. Since joining RapidMiner last year, Lee has noted that the proof of concept in predictive analytics is already well established, and now the race is toward proof of value.

The bigger, the better

In the past, less sophisticated data science and software has resulted in analytics that aimed to answer very large questions with small data samples. Lee scoffs at this lazy approach and said that RapidMiner inverses it and gathers the richest, largest, most complete data set possible and then aims to answer questions and make predictions on a more granular level.

“That’s something that I think is a sea change in the way modern, cutting-edge data platforms are really attacking this problem,” he said.

He continually stressed the attractive ROI available to companies offering data analytics these days. “One of the key elements as a disruptor in this market is that you can get started in an open-source model at a price point that is very hard to beat,” he said.

Watch the full interview below, and be sure to check out more of SiliconANGLE and theCUBE’s coverage of RapidMiner Wisdom 2016.

Photo by SiliconANGLE