How to Be Ready for Big Data
global consulting group
In the next three to five years, we will see a widening gap between companies that understand and exploit Big Data and companies that are aware of it but don’t know what to do about it, says Kalyan Viswanathan, global head of information management with Tata Consultancy Services’ (TCS) global consulting group. The companies that succeed in turning Big Data into actionable information with have a clear competitive advantage, Viswanathan says.
“Today, most companies are aware of Big Data,” he says. “There’s a lot written about it. There are conferences about it. Awareness has become quite pervasive. But if you look at actually exploiting Big Data, I would say we’re at the very beginning stages of it.”
Viswanathan says he believes that Silicon Valley Internet-based businesses like Facebook and Google—where the entire business is based upon the management and exploitation of data—are leading the charge when it comes to Big Data. Industries like financial services won’t be far behind, he says, and neither will the intelligence or military communities. Other verticals like retail, telecom, healthcare and manufacturing will follow.
Facebook and Google
“In terms of readiness to exploit Big Data relatively soon, I would say the companies have to be market leaders in their industry segments,” he says. “They will be the ones that tend not to wait until others have exploited new technology. They would rather forge ahead and set the standard for their industry vertical.”
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