During the BDV PPP summit in Riga, 26-28 June, BigDataStack will join the discussions on use case and governance at the Policy4Data panel. Mauricio Fadel, of NEC, will be addressing “ Lowering barriers for the adoption of big data analytics”
Big Data analytics have been successfully implemented in very different areas such as transportation, health and retail; offering valuable insights and projections for decision making as well as automatizing great part of business processes. This has been translated in a higher productivity, outperforming existing human-programmed algorithms and even humans’ accuracy in some cases, while reducing operating costs.
Adoption of Big Data Analytics
However, this adoption is not an easy task and has not always been successful due to the big challenges big data presents. To use big data, organizations must define and properly implement multiple processes, overcoming several technical and legal challenges. For instance, collecting and storing the data is the first obstacle organizations face. Because of the enormous volume of big data, the data to be stored must be filtered in advanced; this requires finding the delicate balance between leaving out too much data and losing potentially vital information, and storing too much data and overflowing resources. In addition, new laws such as the GDPR require organizations to clearly inform users which data will be stored and why, something that in many big data applications is hard to track.
Lowering barriers for the adoption of big data analytics
Tackling these challenges require skills which are usually not present in organizations new to big data processing and not easily found in the job market either. In particular, these challenges are significantly harder for SMEs and small organizations due to budget and skills limitations, creating an unfair disadvantage for them. As an effort to close this gap, we are currently developing BigDataStack: a platform that offers easy definition, development and management of big data applications and services for analytics. In our previous example, BigDataStack can help developers and business analysts to firstly, store huge amounts of data in a simple and inexpensive way, and secondly, have a clear definition of the data to be stored, as well as its purpose, with the help of the process modelling framework. In this talk, we would like to focus on the lessons learnt while defining and implementing this platform, as well as the challenges identified for implementing big data analytics for three use cases in the maritime, retail and insurance industries.
Join us at the BDV PPP Policy4Data discussion panel on 27 June at 13.00, more information on the event and how to register here: http://www.big-data-value.eu/ppp-summit-2019/