The Heat Now Pings from Text Radar: August 24 to August 30
September 4, 2012
For those who regularly follow The Heat in SharePoint Semantics, there is a new Augmentext Information service in town to meet your content intelligence, compliance, and Big Data needs called Text Radar.
Every week Text Radar brings readers high quality content with informative insights on a variety of technology companies and solutions. This past week was no exception.
“Survey Shows Most Organizations Have Not Yet Learned to Turn Big Data into Revenue” references data from a recent Oracle survey that found, despite the onslaught of enterprise data, there are few companies using that data to promote growth and increase revenue.
Oracle president Mark Hurd states:
“This study shows that up to 14 percent of a company’s revenue is lost because enterprises are challenged to manage and analyze data, which grows exponentially as we speak. Enterprises can get ahead of the game by using these challenges as catalysts for company-wide strategic change. Through industry-specific applications and technologies, enterprises can transform data into measurable business benefits.”
On the other side of this coin, “Hiring Trends in Big Data Show Job Growth in a Booming Sector of Information Management” shows that despite the fact that many companies are not utilizing big data technology appropriately, there are five cities driving big data job growth.The author states:
“Companies hiring data scientists include heavyweights like Google, StumbleUpon, PayPal and Facebook. Research by MGI and McKinsey’s Business Technology Office predicts a shortage of the skilled analysts and managers needed for companies to fully exploit Big Data. The United States alone faces a shortage of 140,000 to 190,000 people with analytical expertise and 1.5 million managers and analysts with the skills to make decisions based on that analysis, the research finds.”
While tech companies are definitely a huge proponent of big data analytics technology, other industries are starting to see the benefits as well. “The Music Business Gets Down with Big Data” discusses the way the music industry is using big data analytics technology to determine which bands to sign and appropriate promotions.
When outlining the motives of the industry, Alex Forbes writes:
“By determining what kinds of music people in various markets want to buy, EMI execs can better understand how to help their artists be successful in these markets. As Knapp points out, gathering the data may not be easy but it can offer up real insight into how music affects people. The problem is sorting through all that data – a daunting task at best, he says.”
For those looking to utilize every bit of the data that they are creating, Smartlogic offers text mining software that can help your company increase its profitability while overcoming business challenges.
Jasmine Ashton, September 4, 2012