This week will see thought leaders and experts from some of the world's biggest brandsRead More
Data explosion ‘changing the face of analytics’
One of the biggest challenges for professionals working in IT is keeping pace with the ever-changing nature of the industry and figuring out how to integrate the latest technologies into their business.
This is according to Kognitio's vice-president of propositions Nigel Sanctuary, who will be speaking this week at the Digital Summit 2013 in Atlanta, Georgia. He will be explaining how big data analytics can be used to transform companies' marketing strategies and give them the power to understand and better serve their customers.
Being able to make the most of advanced data analytics tools will play a key role in this, as Mr Sanctuary stated there has been a major increase in the challenges facing organizations in this area.
He noted that in his time with Kognitio, he has seen the data industry evolve hugely. There are now many more players in the market, while the explosion of data means good collection, storage and management practices are now operations that cannot be ignored.
Much of this data will come from new, unstructured sources such as video, social media and other connected devices that make up the 'Internet of Things'. Last year, projections from Cisco estimated the internet will be four times as large by 2016, with annual global IP traffic set to hit 1.3 trillion gigabytes.
One of the main challenges for businesses will be capturing this data and turning it into usable insight. Mr Sanctuary said this is where Kognitio can help, as it offers a mature technology that is ready to cope with the future demands of the industry.
Mr Sanctuary has 29 years of experience in the marketing sector, particularly in the financial services and consulting industries, where he worked for companies including KPMG and PwC. He therefore brings a wealth of knowledge to his consultative role at Kognitio, where he has been since 2004. In his current position, he helps define solutions for clients and defines the propositions based on Kognitio's technology in combination with partner technology.
Therefore, he is in an ideal position to observe the changes affecting the analytics sector and understand what challenges businesses will need to overcome to make a success of their operations.
“I've been working in analytical databases for about 20 years now and predictive modelling is something I was using back in 1991, so it's not new by any stretch of the imagination. What is new is the number of people who are starting to be able to use it,” Mr Sanctuary explained.
He also noted that while the world's largest corporations – such as Google and Coca-Cola – can afford to invest huge resources into developing processes to take advantage of this new landscape, the remaining 99 per cent of businesses are following behind still trying to build the knowledge of how best to use the technology on limited budgets – which is where Kognitio can provide assistance.
Mr Sanctuary's talk will take place at the Digital Summit 2013, which occurs on May 14th and 15th and is set to offer valuable insight to firms struggling to understand what the big data revolution can do for them.