REGION:

The Decade of Big Data Disruption has Arrived

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Global Corporate Venturing Logo As seen in Global Corporate Venturing, July/August 2015 issue.

 From London to Boston to Silicon Valley, the message is consistent—we are finally at the tipping point of realising the value of big data. Analytics coupled with machine learning will help both companies and individuals to derive valuable insights from ever-growing data sources, which will ultimately translate into better decision-making and greater value creation. 

As costs of data infrastructure – transmission, storage and computing – dramatically drop and analytical tools proliferate, the innovations of big data will be game-changing.

We are already seeing remarkable developments. At a San Francisco event showcasing machine learning, I was amazed to learn how Orbital Insight, a Silicon Valley Bank (SVB) client founded by artificial intelligence expert Jimi Crawford, is using images collected by nano-satellites to help track the world's oil supply.  As oil tanks are drained, shadows cast by their sinking lids change, allowing experts to estimate how much oil remains in storage tanks around the world. Other company projects include analysing photo imagery to measure construction in China, grain production in Russia and the number of cars parked at big-box (mega-store) retailers.

In May, my colleagues at SVB Analytics, a non-bank affiliate of SVB, presented their vision of what's ahead at the SVB Next: Big Data event in Boston. Data is growing faster than ever, and the means for storing and processing these huge quantities of data are becoming less expensive.  These two trends are driving new and more powerful use cases for big data.

Finally, new analytics applications help to derive insight from the vast new quantities of data, driving real-world value for business users across many industries. These tools ultimately help companies to know their customers better, bolster security and improve operational efficiency.

Steve has created the SVB Big Data Maturation Index, which is designed to pinpoint which industries have adopted big data more quickly than others. Several factors impact the pace of adoption, including ease of data capture, level of regulatory oversight, and level of technology enablement.  Interestingly, the report finds several of the industries with the largest market sizes—financial services, healthcare, and energy—are relatively underdeveloped when it comes to big data, which indicates significant potential in these markets. 

In the coming iteration of big data, Steve says the highest-value input will be the data itself. As data infrastructure, management and analytics tools become commoditised and more commonly adopted, building a proprietary data set will become the most important factor in maintaining a sustainable competitive advantage. 

At the Boston big data event, we heard lots of sage advice to consider as we enter this brave new world of zettabytes. 

Several presenters working at corporations or with corporate partners recommended starting with a clear long-term data strategy, including identifying a hypothesis, a problem to solve or customer demand to create. And then, they advised, do not be afraid to go against preconceived notions if the data disproves that hypothesis.

Cracking the code in this environment means unlocking the key to how humans make decisions.  Machines are growing in sophistication to augment and supplant current data analysis techniques and the "automated hypothesis" is now at our doorstep. The decade of big data disruption has arrived.  

 

About the Author

Tracy Isacke joined Silicon Valley Bank in 2014 and leads the company’s Corporate Relationship Management Team. As Head of the group, Tracy is responsible for Silicon Valley Bank’s relationships with corporate venture funds, corporate development teams and innovation groups at some of the world’s largest companies and emerging technology and life science startups.

Prior to joining SVB, Tracy was EVP New Business Ventures at Telefónica Digital where she identified investment opportunities in Silicon Valley, Israel and Europe with potential to accelerate Telefónica’s business. She also drove an international Global Partner team to deliver unique partnerships and Direct-to-Bill opportunities for Telefónica across 25 operating businesses in Europe and Latin America.

Tracy joined Telefónica in 2006 initially as Head of Enterprise Sales in the UK and then leading the acquisition of Jajah in Mountain View. She set up and grew the office in Silicon Valley and led the acquisition of San Francisco based TokBox, as well as several investments on behalf of Telefónica including Boku, Everything.me and Box and key partnerships including Evernote, Pinterest and Rhapsody.

Tracy started her career at Xerox, rising to be one of the first female members of the UK Board. She then spent four years getting a taste of what life is like in an early stage company, working in a venture capital-backed start-up that went on to achieve a successful exit.

Born in the UK, Tracy has lived in Italy, Israel and now lives in Los Gatos, CA, with her husband and family.

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