Big data, high performance analytics, data visualizations – do these sound like they have any impact on your organization? We just concluded a great Twitter chat sponsored by SAS Canada, speaking to solutions specialist Tim Trussell on how predictive analytics can benefit businesses, both small and large. Writer and tech analyst Carmi Levy moderated the chat.
See how SAS High Performance Analytics products have helped others:
- SunTrust implements SAS Grid Computing to enable end-user analytics, reducing costs and improving service delivery.
- DIRECTV used SAS High Performance Analytics to close revenue gaps worth $10 million
- Banks using SAS High Performance Analytics can do real-time fraud analysis and get better insights by analyzing all data, not just a sample
In case you missed the chat, here’s a quick recap of what we covered:
Q1. How exactly do we define high performance analytics?
High performance analytics isn’t something we hear about often, but Trussell answered it’s about using data to answer questions that are pivotal to the future of a business.
He also added that while big data and high performance analytics are often paired together, they’re not interchangeable – you don’t absolutely need big data to leverage high performance analytics.
#SASanalytics, #SAS views HPA in a few ways. See http://t.co/ci98xCDZ5V. I summarize as 4 things.
— SAS Canada (@SASCanada) December 11, 2013
#SASanalytics, HPA is: 1. Analytics faster. 2. Utilizing bigger data. 3. Leveraging new technologies. 4. Tapping into unused sources.
— SAS Canada (@SASCanada) December 11, 2013
Q2. SAS has been around since 1976. How much has data analytics changed since then?
@carmilevy, #SASanalytics, #Analytics like any scientific discipline evolves. New ideas are introduced, challenged, and some adopted.
— SAS Canada (@SASCanada) December 11, 2013
#SASanalytics, The biggest change in #analytics is the rate of business adoption.
— SAS Canada (@SASCanada) December 11, 2013
Q3. Big data and analytics is still a new field. What are some misconceptions around it?
The chat took several different paths, as people had questions of their own surrounding big data and high performance analytics:
A3 I often hear the term #bigdata to describe ANY data, but I think it alludes to unstructured + structured high volume combo #SASanalytics
— Brian Jackson (@brianjjackson) December 11, 2013
#SASanalytics What’s the difference between high performance and predictive analytics?
— Howard Solomon (@HowardITWC) December 11, 2013
@HowardITWC Good question, Howard. I suspect they’re more closely related than we think. #SASanalytics
— Carmi Levy (@carmilevy) December 11, 2013
This is how my Big Data projects feel. #SASanalytics The Lighter Side Of The Cloud – By David Fletcher pic.twitter.com/gNnJLvByTv
— Jeff Radecki (@JeffRadecki) December 11, 2013
Q4. What is the difference between structured and unstructured data? How can businesses use them?
@carmilevy, #SASanalytics,structured data is what business has been using for years. Tables, rows, schema’s etc. Unstructured is the rest.
— SAS Canada (@SASCanada) December 11, 2013
#SASanalytics, unstructured may be text, video, audio, system logs, machine generated signals…
— SAS Canada (@SASCanada) December 11, 2013
#SASanalytics, a great example of using textual data comes from Hong Kong. http://t.co/jAKJ63ei2E
— SAS Canada (@SASCanada) December 11, 2013
Q5. Charts can be very boring ways of showing info. What sets data visualizations apart from them?
Most people would agree data visualizations look good. But to look good and also be effective, they need to represent their data efficiently, Trussell said.
#SASanalytics, visualizations are successful if they direct attention to value quickly. This means they must be intuitive and focused
— SAS Canada (@SASCanada) December 11, 2013
Q5: @carmilevy @SASCanada A #dataviz is a valuable way to show ‘what’ of any dataset in a visually appealing way. #sasanalytics
— Mike Kennedy (@mekncl) December 11, 2013
@carmilevy Interaction graphics and a person who understands the charts highlighting the relevant data for me. #SASanalytics
— Jeff Radecki (@JeffRadecki) December 11, 2013
#SASanalytics, #SAS has a visualization tool that leverages moving bubbles, interaction, dynamic filtering and more to uncover insight
— SAS Canada (@SASCanada) December 11, 2013
#SASanalytics Key takeaway from Forbes piece: “Information is powerful, but only if you understand it.” #bigdatavisualisation
— 247Moneybox.com (@247Moneybox) December 11, 2013
Q6. What are some common use cases for tech businesses harnessing analytics?
#SASanalytics, tech businesses are embarking on applications of analytics for operational efficiency, system security, as well as others
— SAS Canada (@SASCanada) December 11, 2013
Good case studies on @SASCanada website: DirecTV saved itself $10 million with high performance analytics software #SASanalytics
— IT World Canada (@itworldca) December 11, 2013
Q6 – We can show pretty charts and talk about analytics until their eyes glaze over. A) Show how to use data to make profit #sasanalytics
— Jeff Radecki (@JeffRadecki) December 11, 2013
Q7. Why should businesses invest in big data and analytics?
The main message behind this one was that if businesses don’t invest in big data, their competitors will leave them behind. Some Twitter chat participants pointed out with big data, businesses can invest in all kinds of practical tools. For example, some marketers use big data to improve targeting, email messaging with opt in and opt out mechanics, and automated messaging, based on data showing what interests specific customers.
Q7 #SASanalytics, #Bigdata may only take small steps and doesn’t just apply to terabytes. If a business ignores big data they are behind
— SAS Canada (@SASCanada) December 11, 2013
@SASCanada @therealjimlove The nice thing is #Security is no longer a #BigData #Analytics add-on. It’s integral. #SASanalytics
— Carmi Levy (@carmilevy) December 11, 2013
Q7 @carmilevy For Big Understanding #sasanalytics
— Jeff Radecki (@JeffRadecki) December 11, 2013
Q8. How does Hadoop impact big data and analytics?
As Levy put it, this question was for the geekier participants in the chat. The Hadoop platform is a handy one for users who have a lot of data that doesn’t really fit into tables and charts, especially if that data is a mix of structured and unstructured data. It can also be helpful for users who want to leverage data in answering very complex, specific questions.
#SASanalytics, #Hadoop has made storage and access to #bigdata affordable.
— SAS Canada (@SASCanada) December 11, 2013
#SASanalytics, at SAS we are working to help customers maximize hadoop investments. See http://t.co/iujiUBQi6C
— SAS Canada (@SASCanada) December 11, 2013
I like that #Hadoop is named after a toy elephant. So you could say we’re talking about the elephant in the room #SASanalytics
— Brian Jackson (@brianjjackson) December 11, 2013
Q9. Many small businesses seem to think big data is for big companies. Can it apply to them as well?
This question seemed to provoke a lot of discussion throughout the chat, as many small businesses seem to avoid working with big data since they’re already strapped for resources and time. And going off of that, someone also asked whether big data and high performance analytics can apply to startups.
However, most chat participants seem to feel there’s a place at the big data table for small business.
Can startups invest in big data? or is it just for the big orgs? #sasanalytics
— Lee Jones (@byleejones) December 11, 2013
@byleejones #BigData is for ANY size company. In fact, SMBs stand to benefit tremendously from #BigData & #Analytics #SASanalytics
— Carmi Levy (@carmilevy) December 11, 2013
@byleejones By integrating data monitoring and monitization early on. Startups are in good position to leverage analytics #sasanalytics
— Jeff Radecki (@JeffRadecki) December 11, 2013
@byleejones, #SASanalytics. Startups have the advantage of starting in an era where investment in #Bigdata can be the foundation
— SAS Canada (@SASCanada) December 11, 2013
Q9 #SASanalytics. one of the articles in the HBR http://t.co/wx4Subfe9v talks about big vs small retailers.
— SAS Canada (@SASCanada) December 11, 2013
For SMB’s call it “Powerful Data” it doesn’t need to be big to make a big impact. #sasanalytics It’s about using data not it’s size.
— Jeff Radecki (@JeffRadecki) December 11, 2013
Globally, SMB #BigData spending was expected to cross the $1B threshold this year, but could reach $3.5B by 2016. #SASanalytics
— Chris Talbot (@ajaxwriter) December 11, 2013
If someone can put together an effective and affordable solution for SMB they will change the world. #sasanalytics
— Jim Love (@CIOJimLove) December 11, 2013
Q10. Where do we see big data and analytics heading in the next year or two?
@candice_so, #SASanalytics, I think the next years will see more convergence, more investment, more development
— SAS Canada (@SASCanada) December 11, 2013
We see many firms hiring data scientists now to put #analytics to use. Expect to see it as competitive differentiator #SASanalytics
— Brian Jackson (@brianjjackson) December 11, 2013
For more info & resources, please visit the @SAS High Performance Analytics Hub at http://t.co/IuDNLqYDEG #SASanalytics
— Carmi Levy (@carmilevy) December 11, 2013
Please know that the conversation on #BigData & #Analytics is only just beginning. #SASanalytics
— Carmi Levy (@carmilevy) December 11, 2013
For additional questions on #BigData or #Analytics, react out to @SASCanada, and keep reading @itworldca for the latest #SASanalytics
— Carmi Levy (@carmilevy) December 11, 2013
