Analyzing BigData in the context of Location : That’s what this blog is all about .
80% of the data that exists today has a location component: address, area code, coordinates; and almost all of the new data – Internet, mobile, social media, ecommerce – is spatially oriented. Organizations that can’t capture, process and analyze big data in the context of location will miss out. Geospatial data is data that identifies a geographic location on Earth, such as natural or constructed features, oceans, and more. The data is generally stored as coordinates and topology and can be mapped. Geospatial data is all around us and it is growing at a staggering pace of 20% per year.
Geospatial Services Industry-As per a recent BCG report , although still young the GSI is already an important force to reckon with generating revenue of almost 75bn and providing jobs to 500,000 , more than the number of airlines jobs . The economic impact of the industry extends even further. Together the Geospatial services companies drive 1.6 Trillion USD in revenues and 1.4 trillion in cost savings
Geospatial tools have been used by employees in various industries ranging from healthcare to foodservice where they rely on information rooted in computer mapping and satellite imagery to create new efficiencies, better target customers , create leaner operations and make more strategic decisions. By keeping all relevant business and spatial data in main memory, you can accelerate data processing to achieve more precise results.
- Insurers enjoy single view of risk.
- Oil and Gas pinpoint with accuracy.
- Wireless optimize networks.
- Retailers become agile omni-channel players.
Here is a snapshot of how businesses use geo spatial services-
The combination of large, fast-moving, and varied streams of big data and advanced tools and techniques such as geoanalytics represents the next frontier of supply chain innovation. When they are guided by a clear understanding of the strategic priorities, market context, and competitive needs of a company, these approaches offer major new opportunities to enhance customer responsiveness, reduce inventory, lower costs, and improve agility.
Companies can optimize distribution, logistics, and production networks by using powerful data-processing and analysis capabilities. They can also improve the accuracy of their demand forecasts, discover new demand patterns, and develop new services by sharing data with partners across the supply chain. In addition, they can increase asset uptime and expand throughput, engage in preventive maintenance of production assets and installed products, and conduct near real-time supply planning using dynamic data feeds from production sensors and the Internet of Things
As a growing number of businesses use data for competitive advantage, there is an increasing need for reliable, accurate and secure technologies that convert everyday information into valuable insights. Analysts at IDC predict that the market for Big Data solutions will reach $16.1 billion in 2014, growing 6 times faster than the overall IT market.
Pitney Bowes location intelligence solutions help unearth non-obvious relationships between specific locations and data to improve the customer experience and drive increased loyalty. By bringing these powerful capabilities together, Pitney Bowes hopes to solve the complex business challenges of customers in key industries.
To discuss on how to make BigData work for your Industry , join SAP and PitneyBowes for a Twitter Chat on May 6. Here are the details
Title- Making Big Data Work –
Join us on Twitter for our #PowerofPrecisionChat on Making Big Data Work – in a Connected World
Date – Wednesday, May 6, 3-4pm ET
Hashtag – #PowerofPrecisionChat
Video – Make The Big Data – Spatial Connection with Pitney Bowes and SAP