In our newest episode, Constellation Research’s Ray Wang catches up with T. M. Ravi, co-founder of The Hive, which helps entrepreneurs leverage big data to create revolutionary data-driven business models that help change the world. Ravi tells us about how Hive members apply big data to areas including finance, supply chain, marketing, CRM and verticals including telco, finance, insurance and retail. As Ray says, “These are practical uses of big data – it’s not hype.”
As Ravi notes, the sensor data-driven world enables a transition from descriptive analytics to discovery to predictive and diagnostic analytics. It supports amazing discovery, the ability to see new patterns and find anomalies. Machine learning and modeling technique breakthroughs in turn feed predictive analytics. Finally, the holy grail is prescriptive analytics – the use of data to make automated, agile decisions, including self-learning and auto-correction.
Ravi gives a great example in the evolution of marketing from one-size-fits-all to fine segmentation to hyper-personalization, or the “audience of one.” He describes how The Hive focuses its companies both on the technology front, with its CTO and data scientist in residence, and on the business front – helping to leverage data from diverse sources and historical data that has been untouched to drive new business models that disrupt existing markets. It’s a riveting outcomes-driven approach.
When Ravi and Ray are joined by Actian CMO Ashish Gupta, the conversation focuses on the nascent Hadoop ecosystem – its strengths, weaknesses and what it’ll take to achieve widespread adoption of this powerful advancement.
I invite you to grab yourself a cup of Joe and spend a few fascinating minutes hearing Ray and Ravi explore how innovators at The Hive leverage big data to make better, faster decisions at scale, including E8 Security, which focuses on threat detection including malicious insiders or advanced persistent threats. As Ravi says, “It’s a great new world!”