Data rates are growing some 40% each year, and the sheer amount of data has outstripped common analytics and staffing levels — creating a serious data analysis gap. To move forward, organizations must transform big data into smart data, which means being able to analyze data on a massive scale and quickly use it to provide deeper insights, create new products, and differentiate services. New data science is built on velocity (fast moving data), variety (different kinds of data), and volume (large amounts of data). This panel will explore what kinds of approaches and analytic tools are now being used and to what end. It will also examine the opportunities, risks, and likely developments the near future holds as analysis helps us transform the commodities of big data into valuable smart data.
Bill Thoet, Moderator