Data and data analytics are cool nowadays. BIME founders had the vision to change the (data) world back in 2009. Fast-forward to 2014, Rachel Delacour (CEO) and Jim Lysinger (VP) presented to Stanford BIME's perspective on emerging data trends. This was an opportunity for the Stanford audience to understand the concepts and ideas of the data world today from a cloud perspective. And we were in good company. Stanford professor Gauthier Vasseur has had speakers from Beats by Dr. Dre as well as Google presenting to his data analytics course about the future of business management and the need for data CEOs (speakers from Facebook, LinkedIn and Ipsos are next). IT specialists, engineers, finance professionals and marketing experts - from advanced to evolving BI skills - are attending Gauthier’s course to understand how to tame data to drive big insight.
Rachel and Jim helped them to think and look at data and data analytics in a completely different way. An up-on-cloud-number-nine approach. With the continuing increase of the types and amount of data sources - both online and on-premise - and with the explosion of IoT, we are reaching a level of data volume and complexity that only the cloud can handle - a point also made by Gauthier in his exclusive interview for BIME. As they coined it at Stanford (probably one of the best places to coin scientific and business terms), the talk is no longer about data volume but about the Data Continuum. A continuum that needs to integrate the most advanced technologies to solve business challenges at lightning speed and empower people.
The BigData approach is no longer hype and is no longer a privilege reserved only for large companies. Having to analyze large datasets - the world is generating 2.5 quintillion (yes, it’s 1000 times larger than the billion) bytes a day - doesn’t mean being a big company anymore - it's less and less correlated to the size of the company with online game companies offering a good example here. Small companies are drowning in data too, and the clever ones understand that the more there is to analyze, the better they can gain a clear and sustainable competitive edge.
The BIME team highlighted the fact that we are at a point where the cloud is already a very good answer to many of the data challenges companies have encountered for years: anyone can test it, buy it, easily and rapidly, without putting $1 million on the table. Users are no longer waiting for a global strategy to come down from on high, and are building their own approach to analyze multiple data sources.
CMOs are becoming Chief Data Officers. They desire to analyze their data sources in one single place, through interactive dashboards. Cloud BI is succeeding in masking the complexity through continuously improved UIs and an evolving social network approach. In Rachel’s words, it’s not easy to make a business application as easy to use as Twitter or Vine or Airbnb but it is our belief that he with the best User Interface wins. We see it time and time again, across industries.
The main takeaway for the Stanford audience? Even though the world of B2C learned all the important lessons from the B2B environment, it is B2B now that is growing on trends observed in the B2C space.