Commercial Integrator January 2021 - 12

AV BRAINS & BRAWN
What Use is Big Data? Analytics is the Answer
With the proliferation of data streaming into an increasingly connected world, analysis of that data
can provide insight into multiple areas. by Alan C. Brawn
I WILL READILY ADMIT, that for this threepart
series of articles (Big Data, analytics,
and content management systems), I truly
put my professorial hat back on.
The genesis of this series of articles is my
firm belief that all of us in pro AV and digital
signage need to understand each of these
areas, and how they affect and interact with
one another.
For those who did not read the first part, I
went into detail on the concept of Big Data.
For those turned off by buzzwords, this concept
is so much more than that. It is the sum
of the raw material from our information age.
As I noted in that article, the unprecedented
explosion of data gathering means
that the digital universe will reach 180 zettabytes
(180 followed by 21 zeroes) by 2025.
2.5 quintillion bytes of data are produced
by humans every day. The challenge is not
so much the sheer amount of data... but
what to do with it.
Unfettered this is like drinking from a
fire hose at full blast. Too much is just too
much, and thus of little value. That begs the
question of how to wrap our arms around
Big Data. This is where analytics comes into
play and becomes the second leg in this
three-legged stool.
The promise of " doing it right " can result
in optimized supply chains, lowered
operating costs, increased revenues, and/
or improved customer service and product
mix to name just a few.
Analytic options abound, often varying by
vertical market or application and can be conThe
digital universe will reach 180 zettabytes (180
followed by 21 zeroes) by 2025. 2.5 quintillion bytes of
data are produced by humans every day. We have no
problem collecting data whatsoever, the problem is what to do
with the vast amount of data created once collected.
Types of Analytics
At the top level, analytics is all about
improving decision making, but ultimately
is about measuring and then quantifying
ROO and ROI. With a plethora of Big Data
available to us we can look at historical data
and current data and then forecast what
might happen in the future.
This tells us where we have come from
and where we are most likely headed.
12
fusing. The good news is that these options
can be categorized at a high level into three
distinct types. Keep in mind that one size
(or type) does not fit all, and in fact they may
co-exist with, and complement, each other.
As one expert opines, " In order for
a business to have a holistic view of the
market and how a company competes efficiently
within that market requires a robust
analytic environment. "
Commercial Integrator JANUARY 2021
Here are the 3 basic types:
Descriptive Analytics data tells us
" What has happened? "
› This data is useful because it allows us to
learn from the past and understand how
this might influence future outcomes.
› The past refers to any point of time that
an event has occurred, whether it is one
minute ago, or one year ago.
› Common examples of descriptive analytics
are reports that provide historical insights
regarding the company's production,
financials, operations, sales, finance,
inventory, and customer information.
Predictive Analytics tells us
" What could happen? "
› This is based on probabilities and provides
estimates about the likelihood of
a future outcome, keeping in mind that
no statistical algorithm can " predict " the
future with 100% certainty.
› For retail sales in might be predicting
what items customers will purchase or
forecasting inventory levels based upon a
myriad of variables.
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Commercial Integrator January 2021

Table of Contents for the Digital Edition of Commercial Integrator January 2021