big data

Data Modeling for Big Businesses {2}

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). read more...

“Big Data,” the next possible step in Business and Sciences. {1}

by Kevin Q
The article describes how “big data,” which is large amounts of data that is being collected today and in the future, are becoming the norm with most large companies and scientific researches. A panel at a Silicon Valley event that occurred about a month back in December of 2011 discussed how “big data” is entering the early stage of its life like e-commerce did in the past. They explained that it could change the way data is handled and create new companies that could excel in handling big data. Large companies are collecting enormous amounts of data and the trend shows that it is only going to increase. “Data growth is already faster than both Moore’s Law and … network growth,” said Anand Rajaraman, senior vice president of Walmart Global E-Commerce (Lawson, 2011) Big Data would help scientific research tremendously, especially if it requires large amounts of data, increasing the computing speeds of crunching data. In an example they gave, they could reduce a computing process with huge amounts of data from 27 hours to one minute. They began discussing that the industry needs to plan and prepare for this change if they want it to go over smoothly. read more...