Harvard Business Review - Analytics, 6/22/2017
REFERENCE - How Analytics Has Changed in the Last 10 Years (and How It's Stayed the Same), Thomal H. Davenport
Virtual information systems pay by the data they create. As data pours in from massive virtual storage services,collected business transactions, digidata collection, business and individual services, and consumer choices from purchasing and social media, the data become valuable information by the tools we have to organize, compare, graph, and analyze that data over time. Most importantly, business managers use data analysis to understand the results of past investments and programs, and to make informed decisions about the future. This article discusses adoption of emerging cloud-based analytics: Hadoop-based unstructured data lakes, scripting languages (Pig, Hive, Python), open-source tools (Spark for streaming, R for statistics). All that can be fed into existing systems for customer relationship management, supply chain management, product performance, customer preference, or market positioning. That involves small bits of "microcode" or an API call embedded in the system for a small, contained analytic result - greatly helped by open source software.