So my journey has started out in earnest. I am currently attending the Gigaom Predictive Analytics webinar. I think the biggest take away is that the market in general expects structured historical data mining is already happening. The scary thing is that this is not happening in South Africa yet, or more specifically, not in any meaningful scale.
The other main revelation is that the most successful companies in big data rely on end user generated content. Your end user may be the facebooker or youtuber but more interestingly could be the car dealership updating live vehicle pricing. This means that besides the big names like Google and Amazon, are really good on the single person interaction, but potential leaders will be a lot more low key like Sage/Pastel, SAP and the like. I think one of the big untapped markets here is the move to low cost cloud solutions for SMME. Many ERP systems are doing this but the key is the cross industry analytics that can be done on these platforms.
Predictive analytics is not about getting it right, but getting it a little more right than the next guy. You don’t have to run faster than the bear, just faster than the next guy. The growth in this is going to be huge and anyone not already playing in this area will be unable to compete. Big data is the next disruptive technology and the analytics, predictive or otherwise is the accelerator.
One of the examples in the webinar was cell tower placement under operational efficiencies. This ties back to spatial analytics which I think is the core around operational efficiencies in business. It always has been, remember: “location location location”.