{"id":4076,"date":"2020-01-31T13:43:00","date_gmt":"2020-01-31T13:43:00","guid":{"rendered":"https:\/\/nmsconsulting.com\/?p=4076"},"modified":"2022-04-29T19:17:14","modified_gmt":"2022-04-29T19:17:14","slug":"the-true-cost-of-big-data","status":"publish","type":"post","link":"https:\/\/nmsconsulting.com\/the-true-cost-of-big-data\/","title":{"rendered":"The True Cost of Big Data"},"content":{"rendered":"<p><\/p><!--themify_builder_content-->\n<div id=\"themify_builder_content-4076\" data-postid=\"4076\" class=\"themify_builder_content themify_builder_content-4076 themify_builder tf_clear\">\n                    <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_27cd31f tb_first tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_1 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col-full tb_5f57f30 first\">\n                    <!-- module image -->\n<div  class=\"module module-image tb_daf3c5d image-center   tf_mw\" data-lazy=\"1\">\n        <div class=\"image-wrap tf_rel tf_mw\">\n            <img decoding=\"async\" src=\"http:\/\/nmsconsulting.com\/wp-content\/uploads\/2020\/02\/big-data-1.jpg\" width=\"317\" height=\"400\" alt=\"statistics\">    \n        <\/div>\n    <!-- \/image-wrap -->\n    \n        <\/div>\n<!-- \/module image -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_bc2311a tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_1 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col-full tb_9d77880 first\">\n                    <!-- module text -->\n<div  class=\"module module-text tb_2b26084  repeat \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n        <p><br><\/p><p>By <a href=\"http:\/\/nmsconsulting.com\/team\/perez\/\" target=\"_blank\">Oscar Perez<\/a> and <a href=\"http:\/\/nmsconsulting.com\/team\/mansourian\/\" target=\"_blank\">Arthur Mansourian<\/a><\/p>    <\/div>\n<\/div>\n<!-- \/module text --><!-- module text -->\n<div  class=\"module module-text tb_9e08122  repeat \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n        <h2><b>Between 2012 and 2020, the digital universe will grow by two times every two years.<\/b><\/h2>    <\/div>\n<\/div>\n<!-- \/module text -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_aafecc2 tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_1 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col-full tb_2390312 first\">\n                    <!-- module text -->\n<div  class=\"module module-text tb_a264f0a  repeat \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n        <p>The recent availability and generation of data has created multiple business opportunities. Decision support has been taken to a new level. The explosion in data has created new platforms to make better business decisions. Our world is a world of Business Intelligence that enable organizations to be proactive and not just react to market changes. It allows organizations to increase the pace of innovation and improve business processes. Big Data creates data driven organizations.<\/p>\n<p>Companies can use current and historical sales data to adjust manufacturing and fulfillment levels. It facilitates \u201cjust in time\u201d stock, the right product mix, reduces inventory levels and prevents out of stock situations for consumers, all while margins are improved and the company is able to approach customers in a personalized way and with the trade promotions that the market wants. Insurance companies can use large amounts of transactions to measure risks, conduct what if scenarios, stress tests, and external factors to generate exposure and risk analysis.<\/p>\n<p><span style=\"color: rgb(0, 0, 0); font-size: 24px; letter-spacing: -0.04em; background-color: initial;\"><b>The Big Data Opportunity<\/b><\/span><\/p>\n<p>The opportunity is to leverage all the data assets to be proactive and enhance the business opportunities, capture new markets, customers, and increase margins. The key is to leverage the value of the large amounts of data, identify the ideal business areas of an organization and maximize the use of technology to get the best business insight and edge. Most organizations do not use Business Intelligence and Analytics effectively. The vast majority are not leveraging the data and turning it into \u201cBusiness Intelligence\u201d. Companies have \u201cData Warehouses\u201d or a collection of data in one place. Less than 20% of companies have mature Business Intelligence that are used in the execution of the company business strategy. Executives get out of date or incorrect information. However, companies that leverage Business Intelligence and Big Data are more competitive and profitable.<\/p>\n<p>What are the true costs of Big Data? There are multiple studies concluding that an Open Source data warehouse with 30TB of data cost approximately $1,000,000 per year.<\/p>    <\/div>\n<\/div>\n<!-- \/module text -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_96bddf5 tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_1 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col-full tb_6451049 first\">\n                    <!-- module image -->\n<div  class=\"module module-image tb_f6151e5 image-center   tf_mw\" data-lazy=\"1\">\n        <div class=\"image-wrap tf_rel tf_mw\">\n            <img decoding=\"async\" src=\"http:\/\/nmsconsulting.com\/wp-content\/uploads\/2020\/01\/cost-of-performance-picture.png\" width=\"975\" height=\"235\" title=\"The True Cost of Big Data\" alt=\"The True Cost of Big Data\">    \n        <\/div>\n    <!-- \/image-wrap -->\n    \n        <\/div>\n<!-- \/module image -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_461c6ba tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_1 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col-full tb_ee49c1d first\">\n                    <!-- module text -->\n<div  class=\"module module-text tb_08245b0  repeat \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n        <p><span style=\"background-color: initial;\"><br><br>While Open Source Big Data offers low cost software, the hardware costs are high. Big Data offers business benefits in tackling Risk Management, Fraud Management, and Customer Insights. All costs of Big Data need to be evaluated including hardware, power\/energy, and talent.<br><br><\/span><\/p>    <\/div>\n<\/div>\n<!-- \/module text -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_f99cef1 tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_1 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col-full tb_9433bbd first\">\n                    <!-- module image -->\n<div  class=\"module module-image tb_ca361e7 image-center   tf_mw\" data-lazy=\"1\">\n        <div class=\"image-wrap tf_rel tf_mw\">\n            <img decoding=\"async\" src=\"http:\/\/nmsconsulting.com\/wp-content\/uploads\/2020\/01\/raspberry.png\" width=\"975\" height=\"416\" title=\"The True Cost of Big Data\" alt=\"The True Cost of Big Data\">    \n        <\/div>\n    <!-- \/image-wrap -->\n    \n        <\/div>\n<!-- \/module image -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_7932164 tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_1 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col-full tb_f1cad30 first\">\n                    <!-- module text -->\n<div  class=\"module module-text tb_dfae70d  repeat \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n        <p><br><br>The latest big data statistics show some remarkable figures such as that from 2012- 2020, the digital data domain will grow by two times every two years (Source: IDC).&nbsp; Also, in a recent survey by MicroStrategy, Between 2012 and 2020, the digital universe will grow by two times every two years. (Source: IDC). This shows just how important it is to fully capture the power of the information that is beneath all the data we see around us. &nbsp;Another interesting fact is that data applications and analytics are estimated to grow from $5.3 billion in 2018 to an astounding $19.4 billion in 2026 (Source: Statista).<\/p><p><br><\/p><p><b>About the Authors<\/b><\/p>    <\/div>\n<\/div>\n<!-- \/module text -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_t64o493 tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_2 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col4-2 tb_a812493 first\">\n                    <!-- module image -->\n<div  class=\"module module-image tb_1xdc493 image-top   tf_mw\" data-lazy=\"1\">\n        <div class=\"image-wrap tf_rel tf_mw\">\n            <a href=\"http:\/\/nmsconsulting.com\/team\/perez\/\" rel=\"noopener\" target=\"_blank\">\n                   <img decoding=\"async\" src=\"http:\/\/nmsconsulting.com\/wp-content\/uploads\/2019\/03\/Oscar-Perez-1.jpg\" width=\"100\" height=\"100\" title=\"Oscar Perez\" alt=\"Oscar Perez\">        <\/a>\n    \n        <\/div>\n    <!-- \/image-wrap -->\n    \n        <div class=\"image-content\">\n                    <h3 class=\"image-title\">\n                                    <a href=\"http:\/\/nmsconsulting.com\/team\/perez\/\" rel=\"noopener\" target=\"_blank\">\n                        Oscar Perez                    <\/a>\n                            <\/h3>\n                    <\/div>\n    <!-- \/image-content -->\n        <\/div>\n<!-- \/module image -->        <\/div>\n                    <div  data-lazy=\"1\" class=\"module_column tb-column col4-2 tb_epuo493 last\">\n                    <!-- module text -->\n<div  class=\"module module-text tb_ogze493   \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n        <p><a href=\"http:\/\/nmsconsulting.com\/team\/perez\/\" target=\"_blank\">Oscar Perez<\/a>&nbsp;<span style=\"background-color: initial;\">has functional expertise in Artificial Intelligence, Big Data, supply chain, SOA, SAP, CRM, procurement, corporate finance, and product marketing. He specializes in software selection and implementation of SAP ERP packages. Oscar has appeared in publications including Computerworld, InformationWeek, and The Wall Street Journal.<\/span><\/p><p><span style=\"background-color: initial;\">Mr. Perez has conducted project reviews for Goldman Sachs, Bain Consultants, Brown Brothers Harriman, McKinsey &amp; Company, Norges Bank Investment Management, P. Schoenfeld Asset Management, Iconiq Capital, Greencape Capital Pty Ltd, JMI Equity, Coatue Management, The Boston Consulting Group, Platinum Asset Management, Invesco, Guggenheim Partners and private equity firms.<\/span><\/p><p><br><\/p>    <\/div>\n<\/div>\n<!-- \/module text -->        <\/div>\n                        <\/div>\n        <\/div>\n                        <div  data-lazy=\"1\" class=\"module_row themify_builder_row tb_0zb4872 tf_w\">\n                        <div class=\"row_inner col_align_top tb_col_count_2 tf_box tf_rel\">\n                        <div  data-lazy=\"1\" class=\"module_column tb-column col4-2 tb_jtuj872 first\">\n                    <!-- module image -->\n<div  class=\"module module-image tb_78u4872 image-top   tf_mw\" data-lazy=\"1\">\n        <div class=\"image-wrap tf_rel tf_mw\">\n            <a href=\"http:\/\/nmsconsulting.com\/team\/mansourian\/\" rel=\"noopener\" target=\"_blank\">\n                   <img decoding=\"async\" src=\"http:\/\/nmsconsulting.com\/wp-content\/uploads\/2019\/02\/Arthur-Mansourian.png\" width=\"100\" height=\"100\" title=\"Arthur Mansourian\" alt=\"Arthur Mansourian\">        <\/a>\n    \n        <\/div>\n    <!-- \/image-wrap -->\n    \n        <div class=\"image-content\">\n                    <h3 class=\"image-title\">\n                                    <a href=\"http:\/\/nmsconsulting.com\/team\/mansourian\/\" rel=\"noopener\" target=\"_blank\">\n                        Arthur Mansourian                    <\/a>\n                            <\/h3>\n                    <\/div>\n    <!-- \/image-content -->\n        <\/div>\n<!-- \/module image -->        <\/div>\n                    <div  data-lazy=\"1\" class=\"module_column tb-column col4-2 tb_xw2e872 last\">\n                    <!-- module text -->\n<div  class=\"module module-text tb_f7mw873   \" data-lazy=\"1\">\n        <div  class=\"tb_text_wrap\">\n        <p><span style=\"font-size: 14pt; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0);\"><a href=\"http:\/\/nmsconsulting.com\/team\/mansourian\/\" target=\"_blank\" rel=\"noopener\">Arthur Mansourian<\/a>&nbsp;has a 12-year track record as both a management consultant and investment banker, advising clients on valuation, capital markets, structured financing, mergers, acquisitions and divestitures and general corporate strategy.&nbsp;<\/span><\/p><p><span style=\"font-size: 14pt;\"><span style=\"font-family: Georgia, &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0);\">Mr. Mansourian served as Vice President while at NMS Capital Advisors, when the company achieved cumulative sales growth of over 5,100% with annual compounded sales growth in excess of 120% from 2012 to 2017.<\/span><\/span><\/p>    <\/div>\n<\/div>\n<!-- \/module text -->        <\/div>\n                        <\/div>\n        <\/div>\n        <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>From 2012- 2020, the digital data domain will grow by two times every two years. <\/p>\n","protected":false},"author":4,"featured_media":4077,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[158,159,160,68,146,22,69],"tags":[162,163,161,147,110],"class_list":["post-4076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai","category-artificial-intelligence-2","category-big-data","category-corp-ad","category-cybersecurity","category-insights","category-mgmt-con","tag-ai","tag-artificial-intelligence","tag-big-data","tag-cybersecurity","tag-management-consulting","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NMS Consulting &#8226; 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