Redefining Big Data : From bubble to sustainable trend | #BigDataNYC
Big Data is advancing faster than any other technology in enterprise history, and it’s the Hadoop community’s responsibility to sustain this trend, according to Kognitio’s Michael Hiskey. The executive believes that the analytics space is headed for a bubble that will only be averted if the ecosystem gets serious about driving business value for customers.
“If I look at the Big Data market as the evolution of the business intelligence, data warehousing and database space, it’s bigger now than it ever has been before and the most venture capital, and the most marketing dollars, and the most funds are being poured into it – but the least funds are coming out of it in terms of revenue and real projects,” Hiskey, who serves as the Head Product Evangelist at Kognitio, tells theCUBE hosts John Furrier and Dave Vellante.
“That dichotomy, that ratio is further off than it’s ever been in the past – and that’s where you start getting confusion, that’s where you get a bubble,” he says.
A long road for BI + Big Data
The growing presence of traditional BI vendors in the Big Data market is encouraging, he continues, since the increased competition is pushing smaller players to adopt more customer-oriented strategies. But there is still a long road ahead, especially when it comes to bridging the gap between data science and business insights.
Hiskey explains that hiring data scientists is not enough to put the power of analytics in the hands of end-users. To unlock the value of their information, organizations must integrate Big Data into day-to-day operations and provide workers with the tools they need to make decisions in real time.
The ability to perform “train of thought analysis” is disrupting entire industries, from healthcare to the financial services sector. Companies in more traditional segments are also joining the fray as they seek to drive efficiencies and gain competitive advantage over their peers.
Watch the video below for more on the changing dynamics of the analytics market and the role of startups as a source of Big Data innovation.
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