Big Data is a Mega Trend Opportunity at Global Level

Big Data is a Mega Trend Opportunity at Global Level

Background:

The citizens of the world today are producing more data than ever in the history. Without consciously thinking about it, their mobile handsets, their bank and credit card type transactions, while at home, driving around and even their very homes are producing “big data”. We do not speak of giga or terra anymore, already in peta, and soon exa and in the upcoming years zetta and much larger numbers of bytes of data. Please note that each of these measures of data are progressively 1000 times the previous.

There is inflation or explosion of data volumes, and we have recently crossed inflection point or the cusp of this unprecedented and accelerated growth of data. As a futurist, Dr. KRS Murthy professes that (big) data will be the new international currency, with various big data bartering, trading and swaps becoming a common thing of the upcoming years.

Big data is a 'gigantic creature' that seems to grow with unending appetite. Big data technology in different market verticals aims to tame this 'creature' and even domesticate to use it as a tool to make predictions and find the most critical and actionable items of intelligence.

Increasingly, this must be accomplished in near-real time and the information must be packaged in a format capable of being shared with all other pertinent parties. The result is that sensor, computer and communication technologies are being strained beyond capacity to keep pace with current and future information management and analysis needs. ‘Big Data’ tools, techniques, and technologies seek to provide the means to analyze exploit and share conclusions drawn from this seemingly overwhelming information load.

Presentation Theme and Summary:

The Big Data phenomenon is not limited to a particular company or enterprise, or even one or few products or services. The phenomenon is global, and the big data wave is certain to change all countries in all continents on the globe forever.

Big data strategy is an imperative that cannot be ignored by any country or company. Conglomerates may have multiple product lines or lines of businesses made up of many business units, related or unrelated. Big data strategy could be in silos if the businesses of the conglomerate are not related. For mutually related business units, an integrated strategy would be a must.

Industry or vertical wide big data strategy would apply for industry associations with many companies in that industry are members. The big data strategy would encompass issues and commonalities between the member companies of the industry association.

A national level or state / province level big data strategy is very important to ensure the prudent big data policies drive the big data strategy. It would also be helpful to revisit the national, state or province level strategy from big data perspective.

Let us take examples of national or state / province level big data strategy. For example, energy department in a country like USA needs big data strategy, to leverage and exploit to the full extent the immense power of big data, not only in the legacy energy technologies and infrastructure, and surely in alternative or green technologies.

The “internet of things”, made up of wireless sensor networks (WSN) in the energy generation, transmission and surely in the distribution segments, should fully incorporate smart grid features with monitoring devices in residences, commercial buildings, industrial buildings and also military building and campuses. WSN embedding is pertinent in outdoor lighting, street lighting and lighting in highways, freeways, parks, airports etc.

The WSN would generate data every minute, hour, day, week, month and the whole year, needing big data methodologies to derive the best value for prudent actionable and decision knowledge.

About the Speaker:

Dr. KRS Murthy is an international expert in big data, and especially big data strategy. He
has delivered over 150 key note speeches, hundreds of talks, and chaired sessions in numerous sessions and panel in many parts of the world. He is also a big data strategist and futurist.

Murthy has managed very large small to very large departments, divisions, business units and companies, from 50 to 2000 professionals and achieved accelerated corporate growth in telecom companies, including some of the fastest growing companies in USA. One of the companies grew from $60M in revenue to $550M and a corporate valuation of $3.5B in only one year.

Murthy has shared the stage with Who’s Who in USA and the world. He was a corporate executive in GE, AT&T and few private companies.