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Businesses ‘can save millions through the effective use of data’

Making effective use of the data they hold can help businesses to generate savings of millions of pounds.

This is the claim made by one of the organizers of Big Data World Europe, Oliver Arscott, who explained employing digital information in ways that deliver a better understanding of consumer behavior that can bring firms closer to their customers.

A rapid proliferation of big data in recent years has resulted in a growing number of organizations turning to data analytics and business intelligence solutions in order to improve their decision making and operations.

According to Mr Arscott, the conference manager for the event, "big data is increasingly being seen not just as a problem encountered by academics, but also as something that most businesses are now dealing with".

He explained by exploiting the records they hold, firms "are able to find value that can fundamentally change their processes" and could save them large sums of money.

Big Data World Europe 2012 was held on September 19th and 20th at ETC Venue St Paul's in London and saw suppliers in attendance showcase their offerings and expertise.

It intended to provide IT executives and senior marketing professionals with the intelligence, strategies and technologies they need to employ big data in effective ways.

The event featured technical case studies, a large-scale exhibition and strategic keynote speeches.

"We've brought together some truly global end users who will walk delegates through the best ways to tackle and squeeze value from their data sets," declared Mr Arscott.

He described Big Data World Europe as "the leading event for brands from across sectors to discuss the opportunities presented by the creation of a big data strategy".

Kognitio was a Gold Sponsor of the conference, which explored issued surrounding data analytics, storage and usage for all kinds of organizations and

Speakers who appeared at the gathering included marketing director of Carphone Warehouse Anne Brunsdon, TomTom director Simon Hania, Groupon customer relations management head for the UK and Ireland Ash Mahmud, Forrester Research principal analyst Brian Hopkins, University of Southampton Professor of Artificial Intelligence Nigel Shadbolt and PayPal chief scientists Mok Oh.

Big Data World was chaired by Forrester and included the latest research in the field, in addition to best practice and case studies to help attendees find the best ways for their organizations to employ big data.

Suppliers showcased their expertise – for example Kognitio promoted its big data analytics solutions and cloud-based platform, providing firms with a scalable, flexible way to receive responses to queries in real time, allowing them to exploit digital information more effectively.

Key issues up for discussion during the two-day event included moving data into the cloud, getting the balance between offsite and onsite warehousing, social media, security and the latest solutions in the field.

Chief information officers, marketing specialists, data scientists, business intelligence analysts, IT directors and analysts were in attendance from a range of industry verticals, including healthcare, retail, telecommunications, media, financial services, law enforcement and government.