CTO Straight Talk - Issue 3 - 21

CTO STRAIGHT TALK | ISSUE 3

C

OMBINING BIG DATA
AND THE IoT

Big data technologies are maturing,
and they are widely applied across
many industries. In automotives, for
example, a manufacturer can incorporate
data from warranty and maintenance
activities or even a customer's visit to
the auto body shop to better understand
patterns of failure.
Collecting data from dealers in different
states is not new. But big data takes this
activity to the next level. For example,
marrying the actual weather data in
a region to vehicle failure information
allows manufacturers to begin developing
predictive analytics. Somewhat simplistically,
cars in Massachusetts may be found to
suffer more cold-induced battery failures
while vehicles in Texas may see more
problems with air-conditioners. But folding
in other data streams flowing from the
Internet of Things enables more nuanced
predictions. Think how the somewhat
obvious prediction that cars in cold
climates suffer from battery failures and
in hot climates experience air-conditioner
problems can be enhanced by factoring
in local traffic information, say, or sensor
data from the car itself.
Consumer data is central to retail
operations and to the airline, ticket, and
travel industries. In these instances, you
are trying to understand demographics
and individual consumers in the context
of location, season, trends, and so on.
Big data is a powerful tool for bringing
together what you know about those
factors and integrating new sources of
information-for example, sensors in a
retail facility or weather for a travel site-
to produce deeper insights.

P

UTTING BIG DATA TO WORK IN
YOUR BUSINESS

To realize the value of big data
and capitalize on the emerging
Internet of Things, follow this step-bystep approach:
1. Build a Strategy Framework.
It is vital to develop a clear conceptual
understanding of big data and how
its potential might map to your own
organization's needs. This should probably
begin with a review of existing business
intelligence efforts and data sources. But
don't stop there; look further and see
whether there might be other data sources
that aren't being utilized or processes that
could be better instrumented to provide
valuable data. Remember, big data means
BIG. More is generally better. Think about
the kind of insights big data might be able
to provide, and then get ready for the
next steps, when you will move ahead and
engage the organization.
2. Create an "Opportunity Landscape."
If the full potential of big data is a gold
mine, the tactical projects that can get
you started are gold coins. The point is
to focus initially on a small number of
projects or initiatives with the potential
for significant payback. These could be
aspects of your business that have not
performed as expected and where data is
available to potentially change the game.
When you've found the gold in those
projects, you will be better able to gather
resources to finance the gold mine and
begin to extract widespread rewards for
the organization.
3. Effectively Manage Big Data Projects.
This means having a good grasp on the
learning that may be transferable from
other transformation and IT projects, as

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CTO Straight Talk - Issue 3

Table of Contents for the Digital Edition of CTO Straight Talk - Issue 3

Contents
CTO Straight Talk - Issue 3 - Cover1
CTO Straight Talk - Issue 3 - Cover2
CTO Straight Talk - Issue 3 - 1
CTO Straight Talk - Issue 3 - Contents
CTO Straight Talk - Issue 3 - 3
CTO Straight Talk - Issue 3 - 4
CTO Straight Talk - Issue 3 - 5
CTO Straight Talk - Issue 3 - 6
CTO Straight Talk - Issue 3 - 7
CTO Straight Talk - Issue 3 - 8
CTO Straight Talk - Issue 3 - 9
CTO Straight Talk - Issue 3 - 10
CTO Straight Talk - Issue 3 - 11
CTO Straight Talk - Issue 3 - 12
CTO Straight Talk - Issue 3 - 13
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CTO Straight Talk - Issue 3 - 16
CTO Straight Talk - Issue 3 - 17
CTO Straight Talk - Issue 3 - 18
CTO Straight Talk - Issue 3 - 19
CTO Straight Talk - Issue 3 - 20
CTO Straight Talk - Issue 3 - 21
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CTO Straight Talk - Issue 3 - 27
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CTO Straight Talk - Issue 3 - 29
CTO Straight Talk - Issue 3 - 30
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CTO Straight Talk - Issue 3 - 64
CTO Straight Talk - Issue 3 - 65
CTO Straight Talk - Issue 3 - Cover4
https://magazine.straighttalkonline.com/cto/issue4
https://magazine.straighttalkonline.com/cto/issue3
https://magazine.straighttalkonline.com/cto/issue2
https://magazine.straighttalkonline.com/cto/issue1
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