UPDATED 10:00 EDT / AUGUST 22 2016

NEWS

The sharing economy: Increasing data’s value by giving it away | #theCUBE

Getting the most from your company’s data requires thinking about it as an asset — but not the way you’re used to. Assets typically imply something of value that is scarce and nonrenewable. The difference with data is that it sustains. Keeping your data siloed and separate from others in your company is not only unnecessary, it could be counterproductive. In fact, sharing data freely across your company is one way to increase its value.

Bill Schmarzo, CTO of EMC’s Global Services Big Data Practice, said this is another area where Big Data demands an adjustment in companies’ mindsets. He told Peter Burris (@plburris), cohost of theCUBE, from the SiliconANGLE Media team, “Data has this network effect — the more data I can share, the more valuable it becomes.”

Schmarzo said that some companies still cling to the siloed model, and he must make an effort to convince them it’s against their interests. “The value of data is knocking down those data silos, which is a huge cultural issue,” he explained.

Tech is disposable

Schmarzo also teaches companies to master the practical application of data without relying on a faddish technological tool.

“If you think the value in the Big Data conversation is in the technology, you will forever be chasing your tail,” he said, adding that many companies run themselves ragged implementing new technologies, thinking that is the way to win. But, “The technology may come and go,” he said, so companies should view it as disposable.

Data frameworks like date lakes, on the other hand, have greater utility over the long haul, he said. “What’s the intellectual capital of the Big Data world? Well, it’s the data, the analytic models, and the decisions your making. I didn’t say technology anywhere.”

Watch the full interview below, and be sure to check out more of SiliconANGLE and theCUBE’s Wikibon Weekly segments.

Photo by SiliconANGLE

A message from John Furrier, co-founder of SiliconANGLE:

Your vote of support is important to us and it helps us keep the content FREE.

One click below supports our mission to provide free, deep, and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger, and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy

THANK YOU