by Aleah Radovich | Apr 7, 2016 | Business Intelligence, Business Optimization, Data Science
Big Data is bringing new business opportunities to companies around the world. We have officially entered this new age of Big Data, and it’s helping business, education, healthcare and more. This Big Data is offering vast amounts of information at rapid speeds, even in real time. And this information is fueling insights, leading to better decision-making. These better decisions enable huge savings, huge increases in sales, and happier customers. But big business opportunities do come at a cost.
Big Data is not really a new thing. It has been used for years and years; but it seems new because it’s something that is just now becoming affordable enough for it to be within reach for most businesses. Despite the decrease in costs, it still remains pricey.
Many companies are turning to software, such as Hadoop, in attempts to reap the benefits of Big Data, without the Big Cost. Although Hadoop is technically a free software, there are many costs associated with it.
The costs begin right away. The cost to set up the software is estimated at $9,000 a month, and takes around 4 months to do so. But the software isn’t the solution itself; you’ll need to hire a developer to develop the solution. But before you hire this developer, you’ll have to hire a business analyst to determine what question needs to be answered, or what hypothesis needs to be investigated. Then, he will tell the programmer what to code.
Another cost gets added if you have data from other systems that you need to import to your Hadoop cluster. Which is likely, as most companies have over 6 systems. In this case you will have to hire a database specialist to do this for you.
Finally, if you’re trying to get all you can out of the data, you will have to hire more data scientists and analysts. A business analyst alone is not effective when it comes to Big Data analysis.
So, it’s really not free. It’s actually estimated at just under $55,000 a month, according to this source.
But, this isn’t exactly fair, or attainable for small or medium-sized enterprises. Even though using data analysis always improves ROI, it is sometimes too large of an up-front cost for some companies – even if they wanted to, they couldn’t.
Luckily, there are options for companies that cannot afford this cost of set-up, maintenance and ongoing analysis. There are some companies that offer end-to-end solutions, however they do not offer their clients the best deal, as they are not customized to the company itself, they are a one-size-fits-all solution. But, there are a select few companies that truly do offer customized, end-to-end solutions at far less of a cost than these others. We did our research and found one for you, that offers customized solutions- in fact, they don’t even list their services on their website in advance. They wait to meet with you, learn about your business, and then tell you how they can help you.
But what’s even better is that they know that some are weary of putting that much cash upfront without seeing on a first-hand basis how it effects/benefits their company. This is why they have created a “special.” They will analyze one of your data sets, for a greatly reduced cost, reflecting a problem area in your company, to see how that analysis alone can help you. You can find more details from this blog about it.
by Rich Benvin | Aug 26, 2015 | Big Data, Case Studies, Creating Competitive Advantage
Many companies come up with a great ideas that they know will help a particular industry, but then struggle to formulate a plan to access and acquire customers in the new market. Cliintel is comprised of experts with diverse expertise in a wide variety of fields that can be quickly leveraged by our clients to ensure their successful entry into new markets and industries.
The Client:
A leading innovator in the Radio Frequency Identification (RFID) business had been working with a diverse client base that ranged from aerospace to the medical industry. They had recently identified the retail vertical as a potential new market for their products.
The Business Issue:
The primary use of RFID technology is for inventory tracking. The client wanted to broaden their reach by using their software solution to solve issues within the retail space. They had built a solution to track the relationships of products within a store location, providing real-time data on customer behavior and interaction with the products. The problem was trying to identify a client who would be willing to “beta-test” to validate the benefits from the solution and provide references.
Cliintel’s research enabled the client to complete product development ahead of schedule and successfully enter the retail market by successfully implementing their solution in record time while simultaneously acquiring new, referenceable customers.
The Approach:
Cliintel took a broad view of the retail industry, looking for beta-test candidates with needs that aligned with the primary uses of the RFID technology and who would realize value from the innovation. The industry was examined collectively and objectively to identify specific candidates who prioritized relationship marketing performance metrics, had large supply-chains and were targeting both internal and external loss-preventions programs.
Cliintel’s research enabled the client to complete product development ahead of schedule and successfully enter the retail market by successfully implementing their solution in record time while simultaneously acquiring new, referenceable customers.
The Solution:
Cliintel presented three key retail venues that they felt would benefit most from the client’s solution. Specific requirements for the solution were identified for each venue – ranging from pure inventory tracking to relationship marketing. After quickly conducting extensive market research, Cliintel identified specific companies that needed an inventory solution and possessed the willingness to participate in the beta-test.
The Project Results:
Cliintel’s research enabled the client to complete product development ahead of schedule and successfully enter the retail market by successfully implementing their solution in record time while simultaneously acquiring new, referenceable customers.
We’re proud to help our clients solve tough problems and achieve stunning results. To see what kind of big data results Cliintel.com can deliver for you, please Call 720-200-3001.
by Richard Batenburg | Feb 4, 2015 | Business Intelligence, Measuring Results
If you want your business intelligence system to power your company over the rough terrain ahead, make it accessible to every level of your organization. The most successful solutions continuously deliver vital, current information to the front lines to help them drive the organization forward. This “four-wheel drive” approach of distributing data beyond the executive suite to all corners of the organization is the next step in the evolution of business intelligence.
First, use your data to develop key performance indicators for every department. These KPIs support the business imperatives that drive organizational decisions. Broad-based familiarity with key performance indicators and the data behind them will ensure that goals are aligned throughout the organization. Actionable messages from the executive suite will be consistently transmitted, inspiring divisional and regional leaders, supervisors, and ultimately, customer-facing agents. This is the real power of business intelligence in action.
Next, go viral with your business intelligence. Internet users know that the most popular websites are those that are updated regularly. Similarly, if you want business intelligence to spread quickly, give everyone in the organization continuous access to fresh data via a simple user interface that responds to queries posed in common, “lay person” language.
Online Analytical Processing (OLAP) techniques allow your IT staff to update data affordably, multi-dimensionally and in real time, facilitating convenient correlation of data points and tracking of key performance indicators from all corners of the organization. With access to this business intelligence, users across the company can query based on their own specific interests – no more waiting for an overloaded IT department to produce canned reports that are out of date when they arrive. IT staff become agents of empowerment instead of producers of reports.
The final step in developing four-wheel drive business intelligence is making access painless and rewarding for users. A skilled business support system provider can develop customized tools that are not only easy to use, but also reduce users’ workload. The provider should work closely with a cross-section of employees, ensuring a business intelligence solution that is essentially created by users for their peers. The result will be intuitive and eagerly adopted, minimizing training costs and user resistance. An agile development approach can give users access to some elements of the system early in the process, delivering an early return on investment and creating enthusiasm that will spread across the company.
We have seen this approach to business intelligence revolutionize several large organizations with a reputation for very difficult reporting and metrics practices. One system currently in production pulls data from more than 20 source systems to manage more than two million new records per day and deliver information to 3,000 front-line users serving 25 million customers.
To learn more about business intelligence solutions, please visit www.cliintel.com or e-mail askcliintel@cliintel.com.
Recent Comments