Companies are spending billions on tools and engineering to analyse big data, though many are hampered by one little problem: they still don’t know what to do with all the data they collect.
“This is the dirty little secret about big data: No one actually knows what to do with it,” Jason Waxman, an Intel vice president and general manager of the company’s cloud platforms group, said Thursday in a webcast for investors.
“They think they know what to do with it, and they know they have to collect it, because you have to have a big data strategy. But deriving the insights from big data is a little harder to do,” he said.
Big data is all about collecting large amounts of sensor or process data, the analysis of which can lead to insights into customer behavior and point the way to improvements in operational efficiency.