Big data is now in an incredibly important part of how many major businesses function. Data analysis, or the finding of facts from large volumes of data, helps businesses make many of their important decisions. Companies that conduct business on a national or international scale rely on big data in order to plot the general direction of their business. The concept of big data can be very confusing due to the sheer scale of information involved.  By following a few simple guidelines, even the layman can understand big data and its impacts on everyday life.

What Exactly is Big Data?

Just about everyone can understand the concept of data. Data is information, and information is everywhere in the modern world. Anytime you use any piece of technology you are making use of data. Anytime you read a book, skim the newspaper or listen to music you are also making use of data. Your brain interprets and organizes data constantly from your senses and your thoughts.

Big data, much like its name infers, simply describes this same data on a large sale. The internet allowed the streaming, sharing and collecting of data on a scale never before imaginable and storage technology has allowed ever increasing hoards of data to be accumulated. In order for something to be considered “big data” it must be at least 10 terabytes or more of information. To put that in perspective, consider that 10 terabytes represents the entire printed collection of material in the Library of Congress. What’s even more remarkable is that many businesses work with far more than the minimum 10 terabytes of data. UPS stores over 16 petabytes of data about its packages and customers. That’s 16,000 terabytes or the equivalent to 1,600 printed libraries of congress. The sheer amount of that data is nearly impossible for a human to comprehend, and analysis of this data is only possible with computers.

How do Big Data Companies Emerge?

All of this information comes from everywhere on the internet. The majority of the useful data includes customer information, search engine logs, and entries on social media networks to name a few. This data is constantly generated by the internet at insane rates. Specified computers and software programs are created and operated by big data companies that collect and sort this information. These programs and hardware are so sophisticated and so specialized that entire companies can be dedicated to analyzing this data and then selling it to other companies. The raw data is distilled down into manageable reports that company executives can make use of when handling business decisions.

The Top Five:

These are the five biggest companies, according to Forbes, in the business of selling either raw data reports or analytics programs that help companies to compile their own reports.

1. Splunk
Splunk is currently valued at $186 million.  It is essentially a program service that allows companies to turn their own raw data collections into usable information.

2. Opera Solutions
Opera Solutions is valued at $118 million. It serves as a data science service that helps other companies to manage the raw data that pertains to them. They can offer either direct consultation or cloud-based service.

3. Mu Sigma
Mu Sigma is valued at $114 million.  It is a slightly smaller version of Opera Solutions, offering essentially the same types of services.

4. Palantir
Palantir is valued at $78 million.  It offers data analysis software to companies so they can manage their own raw data analysis.

5. Cloudera
Cloudera is valued at $61 million.  It offers services, software and training specifically related to the Apahce Hadoop-based programs.

The software and services provided by these companies impact nearly all major businesses, industries and products. They impact what business offer, where they offer them and how they advertise them to consumers. Every advertisement, new store opening or creation of a new product is at least somewhat related to big data analysis. It is the directional force of modern business.

Sources:
http://www.sas.com/en_us/insights/big-data/what-is-big-data.html

http://www.forbes.com/sites/gilpress/2013/02/22/top-ten-big-data-pure-plays/

http://www.whatsabyte.com/

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How to Keep On Top Of the Latest Trends in Information Technology

Being treated like a twelve year old at work by a Tasmanian-devil-manager and not sure what to do about it? It is simply a well-known fact that no one likes to be micro managed. Not only do they not like to be micro managed, but tend to quit for this very reason. Unfortunately the percentage of people leaving their jobs for this reason is higher that you would imagine. Recently, an employee retention report conducted by TINYpulse, an employee engagement firm, surveyed 400 full-time U.S. employees concluded that, "supervisors can make or break employee retention."

As companies mature, their ability to manage can be significant to their bottom line as employee morale, high staff turnover and the cost of training new employees can easily reduce productivity and consequently client satisfaction.  In many cases, there is a thin line between effective managing and micro managing practices. Most managers avoid micro managing their employees. However, a decent percentage of them have yet to find effective ways to get the most of their co-workers.  They trap themselves by disempowering people's ability to do their work when they hover over them and create an unpleasant working environment. This behavior may come in the form of incessant emailing, everything having to be done a certain way (their way), desk hovering, and a need to control every part of an enterprise, no matter how small.

Superimpose the micro manager into the popular practice of Agile-SCRUM methodology and you can imagine the creative ways they can monitor everything in a team, situation, or place. Although, not always a bad thing, excessive control, can lead to burnout of managers and teams alike.  As predicted, agile project management has become increasingly popular in the last couple of decades in project planning, particularly in software development.  Agile methodology when put into practice, especially in IT, can mean releasing faster functional software than with the traditional development methods. When done right, it enables users to get some of the business benefits of the new software faster as well as enabling the software team to get rapid feedback on the software's scope and direction.

Despite its advantages, most organizations have not been able to go “all agile” at once. Rather, some experiment with their own interpretation of agile when transitioning.  A purist approach for instance, can lead to an unnecessarily high agile project failure, especially for those that rely on tight controls, rigid structures and cost-benefit analysis.  As an example, a premature and rather rapid replacement of traditional development without fully understating the implications of the changeover process or job roles within the project results in failure for many organizations.  

The line between IT consulting and management consulting is quite often blurred, with overlaps between the two fields habitually happening. Worse still, most people do not understand who an IT consultant really is, or what he/she does. There are those who think the job entails fixing computers, others – selling computers and associated accessories. This is misleading though.

In a nutshell, IT consultants are professionals who aid businesses in deciding what computer tools and technologies are best placed to grow and sustain a profitable business. They work hand in hand with clients to help integrate IT systems into the latter’s business. They show clients how to use technology more efficiently, and in so doing, the client is able to get a higher return on their technology investments, and ultimately, increase the bottom-line.

IT consultants, or IT advisories, could work independently or for a consulting firm, with their clientele spread across all sorts of businesses and industries. Companies hire or contract the consulting firm to come in and analyze their IT systems and structure.

The job itself is not short of challenges, however, and the path to becoming a successful IT consultant is fraught with its fair share of ups and downs. But hey, which job isn’t? Experience is the best teacher they say, and only after you’ve worked as a consultant for a number of years will you finally gain invaluable understanding of what is expected of you. Learning from the experiences of those who’ve been in this business for long is a good starting point for those who decide to venture into the world of IT consultancy.

Smart Project Management –Best Practices of Good Managers

Project management could be one of the easiest jobs on the planet, and could also be the worst nightmare. The difference between the two extremes depends on smart management of a project. According to the project management institute, there are five phases in project management - Initiating, Planning, Executing, Monitoring & Controlling, and Closing.

Every manager has his own style of project management. But there are a lot of contributing factors that result in a successfully managed project. These factors vary from project to project, but they all contain some common elements.

1. Setting SMART Goals