by Jongwoo Y
How has Mu Sigma, a data analytics company, become such a major player in today’s economy? With the vast amount of “big data” that fortune 500 companies are forced to deal with, companies are forced to either try to untangle their vast amounts of data by themselves or hire third party companies, such as Mu Sigma, to set up an effective data modeling scheme that will be able to make sense out of the pedabytes of data that companies store through their daily transactions and their everyday company needs. Mu Sigma has recently raised over $100 million to expand their business, which include clients from fortune 500 companies such as Sequoia Capital, General Atlantic, and Microsoft (Gage, 2011). Through Mu Sigma, these companies are able to unravel their vast amounts of data and set up an effective data model that helps run the company more efficiently and save them millions of dollars. Investors are very intrigued by the business model that Mu Sigma has carried themselves by since 2008 because of their 886% growth in revenues since that time (Gage, 2011). Based in Chicago, Mu Sigma is currently employed by many huge companies around the world. Not only do they help organize big data for businesses, Mu Sigma analyzes a company’s data and gives further insight on more effective marketing decisions, forecasts, and ways for companies to run more efficiently (Gage, 2011).
Mu Sigma’s way of doing business if very intriguing in that it offers a service for businesses that offers great returns. Though companies are forced to pay Mu Sigma for their services, the overall outcome of the venture is profitable for the employer. With the praise that Mu Sigma has been able to garner from companies such as Microsoft, Mu Sigma is a huge player in today’s economy. If I were a CEO of a large company that dealt with thousands of employees and millions of customers, a service like Mu Sigma would be greatly beneficial to my company. Though I would still need to employ database professionals, I would save on training costs and profit from the services that Mu Sigma provides.
The future only holds greater opportunities for companies like Mu Sigma. With many businesses dealing with enormous amounts of big data, many other companies such as Mu Sigma will come along and fight to be the best. These businesses that not only offer data modeling and help with a company’s database issues, but also include effective economic/marketing tips are the future of business. Mu Sigma’s service will only become better as more competition arises from other similar companies hitting the market.
Gage, D. (2011, December 26). online.wsj.com. Retrieved from http://blogs.wsj.com/venturecapital/2011/12/28/mu-sigma-lands-big-money-for-big-data/?KEYWORDS=data modeling