GIGO is very old news and is highlighted in IDC’s white paper which stressed that the “outcome of any big data analytics project, however, is only as good as the quality of the data being used.” The January 2015 white paper entitled “Big Data, Bad Data, Good Data: The Link Between Information Governance and Big Data Outcomes” was sponsored by IBM and focused at its StoredIQ solution. Here are some of the examples of leveraging Big Data analytics cited in the white paper:
Retailers are leveraging big data analytics to gain a deeper understanding of customer preferences, segment customers in new ways, and target buyers with tailored and personalized offers that increase conversion rates and order size.
Manufacturers are using big data analytics to optimize their supply chains, anticipate product problems and warranty issues, and improve the performance of enterprise assets and equipment.
Energy companies and utilities are leveraging big data to improve their demand forecasts, build smarter grids, reduce outages, and optimize production.
Healthcare organizations are turning to big data to optimize care and improve patient outcomes.
Research organizations are using big data analytics to accelerate the pace of medical and scientific research.
Government agencies are exploiting big data for intelligence, national security, and mission support and planning.
Financial services organizations are using big data to detect and prevent fraud.
However much not all data is great particularly reliable if it is included in the “enterprise’s unstructured information” including:
…the documents, images, rich media, and other content assets that reside in the organization’s enterprise content management, collaboration, and email systems; on network drives and users’ computers; and in enterprise application document stores whether on-premise or in the cloud.
Without question understanding Big Data is critical for all businesses and governments.
This blog is made available by Foley & Lardner LLP (“Foley” or “the Firm”) for informational purposes only. It is not meant to convey the Firm’s legal position on behalf of any client, nor is it intended to convey specific legal advice. Any opinions expressed in this article do not necessarily reflect the views of Foley & Lardner LLP, its partners, or its clients. Accordingly, do not act upon this information without seeking counsel from a licensed attorney. This blog is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Communicating with Foley through this website by email, blog post, or otherwise, does not create an attorney-client relationship for any legal matter. Therefore, any communication or material you transmit to Foley through this blog, whether by email, blog post or any other manner, will not be treated as confidential or proprietary. The information on this blog is published “AS IS” and is not guaranteed to be complete, accurate, and or up-to-date. Foley makes no representations or warranties of any kind, express or implied, as to the operation or content of the site. Foley expressly disclaims all other guarantees, warranties, conditions and representations of any kind, either express or implied, whether arising under any statute, law, commercial use or otherwise, including implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Foley or any of its partners, officers, employees, agents or affiliates be liable, directly or indirectly, under any theory of law (contract, tort, negligence or otherwise), to you or anyone else, for any claims, losses or damages, direct, indirect special, incidental, punitive or consequential, resulting from or occasioned by the creation, use of or reliance on this site (including information and other content) or any third party websites or the information, resources or material accessed through any such websites. In some jurisdictions, the contents of this blog may be considered Attorney Advertising. If applicable, please note that prior results do not guarantee a similar outcome. Photographs are for dramatization purposes only and may include models. Likenesses do not necessarily imply current client, partnership or employee status.