three skills necessary for data-driven start-ups: data munging, the corralling and wrestling of data; modeling, the statistical analysis of data through algorithms; and visualization, the presentation of all the data. While all three are necessary for success, Driscoll believes that modeling and analysis through algorithms is what will determine winners and losers in Big Data.
Most of us know these under the names data mining and business intelligence.
“The secret sauce is predictive analysis powered by data,” said Driscoll. “It’s less about what you did and more about what you should do, and not even telling you what you should do … it should just do it for you.”
Sure thing. Everyone wants to predict stock market evolution, next football game score, etc.
What you actually need big data and data mining for is:
- tracing, identifying, and understanding/explaining past events
- modeling and validating future strategies
Original title and link: Big Money for Companies That Can Analyze Big Data (NoSQL databases © myNoSQL)