Big Data advantages are making companies spend billions on tools and engineering to analyze and process it. But Intel says that most of us (companies) do not know what to do with all the data they are collecting.
“This is the dirty little secret about big data: No one actually knows what to do with it”, said Jason Waxman- Intel Vice President and General Manager of Company’s cloud platform.
Jason added that companies do know the fact that they have to collect it as a big data strategy. But do not have the knowledge to derive the insights from big data.
Intel seems to be interested in big data market, as this industry vertical will need a lot of processor driven hardware. And according to Intel, big data sparks about $13billion a year in IT spending; a figure Intel estimates will rise to $41 billion by 2018.
Jason said in a webcast that his company has talked to several organizations to find out more about their use, and anticipated use, of big data. It found that the number one challenge is figuring out how to extract value from the data. Though, some companies already know what they have to do after extracting data, most of them miss the logic from the beginning, due to lack of guidance.
And some who invest high on big data analysis feel the pinch, when the results are not as per their expectations or when they lack the manual skills to extract real value of the data. This is where; most companies are either finding it difficult to witness a progress in their big data projects or are opting to dump the project for a better prospect.
The fact is that most organizations are missing the right talent to assemble and run big data systems, which require skills in statistics and analytical reasoning in addition to more usual programming and system administration.
Intel has taken the initiative to help businesses start to get value from their big data extraction. The first step is finding and highlighting successful big data operations. For instance, when a retailer finds a successful way to improve a customer experience through big data, Intel documents the operation to help more people replicate that.
The world renowned chip maker has made it official that it has invested in a number of big data software providers till date. In 2014, Intel invested $740 million in Cloudera, which offers a commercial distribution of Hadoop data processing platform. Together, the companies worked on a roadmap for Cloudera software that will take advantage of the advanced features in Intel’s processor architectures.
Intel’s John Waxman has a perspective that despite the current popularity of cloud based software services, most companies (big or small) want to run their big data operations in-house, rather than hand off their data and analysis to third party services.