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Will 2013 Be the Year of Big-Data?

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rohscompliant
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Production Synthesizer
B.D. will be a component used in decisions.
rohscompliant   1/22/2013 2:32:24 PM
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Like any data or info available I would think you would want to mine it for all of it's value. B.D. will become a componet of corporate decision making but not the only driver of decisions. It will have a place in decision making processes.

Bolaji Ojo
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Re: B.D. will be a component used in decisions.
Bolaji Ojo   1/23/2013 10:59:53 AM
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Rohscompliant, Correct. Sometime I ask myself, though, what type of big data would supply chain professionals want access to and will they actually have access to this? Imagine knowing what the competition is planning to build based on their component orders?

rohscompliant
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Production Synthesizer
Re: B.D. will be a component used in decisions.
rohscompliant   1/23/2013 11:03:28 AM
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I think that is the jist of the IBM ad running on TV showing people fishing, running, walking on the riverbank and then breaking them down into their own preferred activities, likes and wants. Great ad related to this topic.......

Hospice_Houngbo
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Supply Network Guru
Re: B.D. will be a component used in decisions.
Hospice_Houngbo   1/23/2013 11:16:08 AM
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@rohscompliant,

Data and information are everywhere, but stiil we don't understand everything about them - yet, therefore we can't use all the data we collect to build effective decision making models if we don't devise effective means to clean up the data from "potential" noise.

prabhakar_deosthali
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Supply Network Guru
Re:
prabhakar_deosthali   1/23/2013 1:47:31 AM
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Big data requires  radically different and much more efficient analytical tools.  Big Data is beneficial to large companies like Wall mart. But whether the smaller partners in the supply chain can afford to take advantage of  this Behemoth is a Big question as the extraction of the required information from Big Data cannot be done by the currently used data analytics tools on desktops or servers.

Mr. Roques
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Supply Network Guru
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Mr. Roques   1/23/2013 3:52:05 PM
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I agree with you, in order for Big Data to be helpful you need a lot of data. I love information and I'm sure everyone agrees that information is power... but when is it too much information? Is there a theory on when to stop?

Bolaji Ojo
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Blogger
Re:
Bolaji Ojo   1/24/2013 7:21:13 AM
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You stop when the volume of data being compiled is more than you can process.

mfbertozzi
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Supply Network Guru
Stop or Go on?
mfbertozzi   1/24/2013 8:18:10 AM
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That's a good point Bolaji, other way to view the reverse face of the coin is about automatic tools developed for helping us in elaborate data. They are increasing in number and performance then...it looks like a chicken/egg picture...;-)

Bolaji Ojo
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Blogger
Re: Stop or Go on?
Bolaji Ojo   1/24/2013 9:45:30 AM
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Matteo, You are an expert in the data networking market and I think understand perhaps better than many that technology can both create opportunities as well as challenges. In the case of Big Data, technology has enabled the gathering and analysis of voluminous data. It may also create a bottleneck in that we may not have the resources to analyze the data. Eventually, though, some smart people will see this as another business opportunity and create the technology that would eliminate the bottleneck!

mfbertozzi
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Supply Network Guru
Re: Stop or Go on?
mfbertozzi   1/26/2013 2:46:36 AM
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Well done Bolaji, it is a matter of making and allowing that the right mix of data storage and technology for carrying them through, work properly. Personally, I believe the trend in the mid-term will be towards data cloud on one hand and contact-less on the other hand. On top of that of course, privacy policies need to be updated to these paradigm. This is another topic to take in consideration.

Hospice_Houngbo
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Supply Network Guru
The year of statistics
Hospice_Houngbo   1/23/2013 11:22:57 AM
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"2013 doesn't have a moniker yet"

2013 is already dubbed the international year of statistics. Therefore it is a good omen for big-data and predictive analytics.

William K.
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Production Synthesizer
Big data not producing good decisions
William K.   1/25/2013 4:59:17 PM
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The problem with the alleged explosion of "big data" is that it has very little value as it is gathered, a lot like low grade iron ore. Before there can be muchvalue the data needs to be condensed into some knowledge. That condensation, or distllation, provides a huge reduction in volume and a real increase in value. Of course, the information does not provide a lot of value until it is able to produce understanding and insight. That is where the value lies. 

So the secret is fairly simple to figure out, which is to avoid hanging onto all of this huge bulk of marginally valuablr data, and instead quickly process it so that knowledge is available. Not only is knowledge much smaller, but in addition, it has a lot more value, and it may be potentially useful. 

So the simple solution is in quick processing of the big data to extract the knowledge, and then to dispose of the data instead of saving it someplace.

Bolaji Ojo
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Blogger
Re: Big data not producing good decisions
Bolaji Ojo   1/28/2013 6:54:15 AM
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Thank you for the reality check. Big data and big hype go together. Getting it right is key and many companies are simply jumping on the bandwagon to avoid losing.

William K.
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Production Synthesizer
Re: Big data not producing good decisions
William K.   1/29/2013 9:12:59 PM
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I would say that you are exactly correcct. Big data & Big Hype. Sort of hollow.



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