What’s the problem with Big Data? You guessed right — it’s BIG.
Big Data empowers organizations to discern patterns that were once invisible, leading to breakthrough ideas and transformed business performance. But there is simply so much of it, and from such myriad sources — customers, competitors, mobile, social, web, transactional, operational, internal, external, structured, and unstructured — that, for many organizations, Big Data is overwhelming. The torrents of data will only increase as the Internet of Everything spreads its ever-expanding wave of connectivity, from 10 billion connected things today to 50 billion in 2020.
So, how can organizations learn to use all of that data?
The key lies not in simply having access to enormous data streams. Information must be filtered for crucial, actionable insights, and presented to the right people in a visualized, comprehensible form. Only then will Big Data transform business strategies and decisions. In effect, Big Data must be made small.
However, as McKinsey & Co. reported, many organizations don’t have enough data scientists, much less ones who understand the business well enough to draw conclusions. The trick is to get the scientists together with the experts who understand the business levers driving the organization. Put them in a room with the right tools, and watch the synergy fly.
But what sort of a room?
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Tags: Big Data, Cisco, Cisco Consulting Services, data scientists, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, retail, value at stake
On a typical day, we leave a vast trail of data in our wake. Our browsing histories, online preferences, shopping habits, work decisions, social interactions—all are rendered in binary code, prompting a complex interaction of requests, responses, affirmations, and denials.
And that’s just from our laptops and smartphones.
What about when the Internet of Everything — with its explosion in connectivity from 10 billion “things” today to 50 billion in 2020 — truly shifts into overdrive? At that point, our clothing, our houses, our cars, our lawns, and our refrigerators may be generating ever-larger torrents of data — all about us.
This upsurge in personal Big Data has big implications. Indeed, each person’s emerging digital persona will go a long way toward defining their place in the world. Furthermore, all of that data already has great intrinsic value to Internet giants, retailers, financial services companies, and many others. If we manage it right — in what I see as a burgeoning Marketplace of Me — some of that value may come right back to us.
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Tags: Big Data, Cisco, Cisco Consulting Services, innovation, Internet of Everything, IoE, IoE Value Index, IoT, privacy, security, value at stake
Futurists have long envisioned a world where fabulous innovations transform our lives in mind-boggling ways. And while some of their ideas may remain far-fetched, the most exciting thing about their future is that so much of it is already here, today (flying cars notwithstanding).
Indeed, we are living in an age of unprecedented technological transformation, one that stands to eclipse even the first Internet boom. This next wave of change is being driven by a massive upsurge in connectivity, from 10 billion connected things today to 50 billion in 2020. The world may seem connected. But only 1 percent of the objects around you are endowed with smart connectivity. That is changing fast. Your car, your refrigerator, your parking space, the bridge you drive over, the shelves at the local retailer, and the supply chain that feeds them — all of these “dark assets” are being “lit up” with smart connectivity, altering our lives in profound ways.
Cisco calls this the Internet of Everything (IoE). We define IoE as the intelligent connection of people, process, data, and things. And, of course, the “people” element is paramount, since the whole point of technology is to create a better life experience for everyone.
At Cisco, we estimate the Value at Stake from this transformation to be $14.4 trillion for the private sector alone over the next 10 years, which represents an opportunity to increase global aggregate corporate profits by about 21 percent.
Cisco’s projections are based on deep research and analysis into potential use cases. But we are not the only ones sensing the potential impact of this game-changing, global transformation.
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Tags: Big Data, Cisco, Cisco Consulting Services, connectivity, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, Quantified Self, value at stake
In my role at Cisco, I have taken interest in understanding how we, as people, are driving the need for innovative technology to fuel change in our world. As we find new ways to interact as consumers or communicators, we demand that technology keep pace – to be fast and to adapt.
Today’s Chief Information Officers (CIOs) are well aware of Internet of Everything (IoE) and are already thinking about how connected their unconnected people, processes and things can help them gain efficiencies as well as a competitive edge. Massive shifts in technology and consumption models brought about by cloud, security, mobility and programmable networks are accelerating new markets and new business models. These new models are transforming communication and massively disrupting the role of IT.
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Tags: Cisco, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, value at stake
It doesn’t take long to realize it’s going to be one of those days.
You drag out of bed, bleary-eyed after a bad night’s sleep in a stuffy, overheated room. Desperately in need of a caffeine jolt, you then discover that you’re out of coffee. You turn on the TV but are too harried to take in the morning news. Rushing out of the house, late, you suddenly can’t find your keys. A mad, time-wasting search ensues before you drive off to work, finally. Then, stuck in traffic, your mind begins to fret: Did you turn off the TV? Turn out the lights? Water the plants? Lock the door?
Now, imagine the same morning routine in a home enabled by the Internet of Everything (IoE), the explosion in connectivity that is transforming the world as we know it.
You wake up rested, since the temperature, air quality, and lighting in your bedroom have been carefully synchronized to your sleep patterns. You tap your smartphone to start up the coffee machine and turn on some light morning music. During a short but vigorous pre-breakfast workout, the temperature in your home gym drops automatically. Later, a sensor tells you exactly where you left your car keys the night before, just as a separate prompt informs you that the plants are fine — except for the thirsty hibiscus, which you water on your way out.
You don’t need to lock the house or turn off the appliances; a proximity sensor detects when you leave the house, locks and shuts off everything, and then sends an alert message to your car’s central screen. There’s no traffic, because your (connected) car is managed through the best routes — and finding a (connected) parking space is a breeze. During the morning meeting, the refrigerator tweets from home: milk and coffee are low. But not to worry — it has automatically ordered fresh cartons of your favorite brands from the local retailer.
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Tags: Big Data, Cisco, Cisco Consulting Services, connected house, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, Quantified Self, value at stake, Wearables