Big data is exploding, and it has become another tool for businesses to maximize profits.
At this year’s Big Data Summit as part of Techweek Kansas City, several speakers and panelists tackled the topic to teach people why they should care about big data.
Joe Blue, a data scientist at MapR in San Jose, Calif., touted the importance of businesses not falling behind their competitors when it comes to leveraging big data.
“The longer you wait, the further you fall behind. You’re going to miss out on opportunities. There’s other people leveraging the same data you have. They’re taking customers; they’re being more efficient than you are,” Blue said.
Mani Raman, chief technology officer at Overland Park-based Yotabites, said, “Data is money now. Data is monetization. You want to make use of your data to either make a better service or product or even target your audience.”
The cost of memory and commodity hardware has continued to decrease, which means more businesses now can afford to harness and store big data, he said. A key is to store the data, such as documents, photos and web clicks, in one place to see the big picture.
Read more: Kansas City Business Journal