Big Data has become a trending topic in the IT world, but what is it? How could you use it to help your organization?
Organization acquire data everyday, through many different avenues. When we use the term “Big Data“, we’re talking about situations in which organizations have an enormous amount of data and no longer have the infrastructure and/or expertise to glean actionable intelligence from the data. These situations usually include a myriad of data sources including social data, machine data, transactional data, sensor data, and many others. Social data typically refers to consumer behavior. Machine data often is gathered from vehicles and machinery. Transactional data includes information associated with doing business, such as payments, purchases, and product details. Sensor data is retrieved from small sensors that create a feedback loop for objects and people, including sound, light, air flow, temperature, location, and other data types.
One way to make sense of Big Data is through analytics. Big data analytics can point out hidden patterns, previously unknown correlations and other insightful information. When Big Data is interpreted correctly, an organization can make better business decisions, allowing them to save money and to grow their business.
How does Offspring Solutions Make Sense of Big Data?
Offspring Solutions helps organizations interpret their Big Data through the use of analytics and visualizations. Offspring Solutions analyzes data, and turns the results into an intuitive visual experience. Instead of sifting through rows of numbers, Offspring Solutions strives to present Big Data with easy to read graphics that give insight into current and future trends.
In one particular case, Offspring Solutions analyzed an organizations’ fleet management data. Offspring Solutions created a secure web portal for our client to login, and gain access to charts and graphs regarding their vehicular fleet. They are now able to see what their current, past, and predicted fleet data reveals, specifically fuel, mileage, usage, and maintenance costs. A host of questions can be considered once the data is captured and usable. Should we do a minimum repair or a maximum repair? What is the economic impact of the downtime for the vehicle? What other repairs or maintenance are needed on the vehicle?
Offspring Solutions created visualizations that ensure that fleet managers are able to easily make decisions regarding future vehicle usage and retirement. This fleet data can then be merged with a wealth of industry fleet data within a industry-wide knowledge base to ensure that trends are captured and presented in a useful way. Our expertise in analyzing and presenting Big Data in an easy to understand fashion has helped our client understand how they should “rightsize” their fleet and adhere to standard fleet management practices in a real-time environment.
Potential Issues Associated with Big Data
When organizations try to interpret their big data without professionals, they often face many issues which end up stalling progress towards insight to their data. For one, relying on employees with little to no analytical skills, could lead to misinterpreting information and potentially costing the company valuable time and money. Every day, computerized analysis becomes more powerful, and the many steps involved in obtaining usable data and making it useful are reduced by ever-smarter tools. An analytical expert, sometimes called a “data scientist”, can find patterns in data by leveraging certain toolsets.
On the other hand, hiring full time analytical experts to make sense of Big Data can be very expensive. Leaving the work to a consulting firm like Offspring Solutions can be a cost effective way to ensure that you get value out of your data.
Offspring Solutions offers a one-stop shop for gathering and interpreting Big Data in an intuitive fashion. We strive to use big data to help organizations work smarter, and more efficiently. Give Offspring Solutions a call today at (703) 277-7752 to setup a consultation regarding your organizations’ Big Data.