Dear New York Times, AllThingsD and anyone else who says that big data is an "Economic Big Dud," we have news for you -- you’re wrong.
How do we know? Because we’ve been speaking to companies who are leveraging big data and analytics to create new products and services, to companies who are using big data to grow their top and bottom lines, to experts who work in the field and to vendors who help their customers use big data to power their businesses.
Pay attention to CMSWire over the next month and you’ll hear more about this.
In the meantime, here’s this week’s notable news from the world of big data.
What Follows Making a Mint at Yammer?
You start your next venture, of course.
Keep an eye out for Mode, a GitHub of sorts for analytics, that has been funded, for the most part, by former Yammer CEO, David Sacks and whose founders include Derek Steer (Microsoft, Yammer, Facebook) and Josh Ferguson (Yammer, MyAnchor, Electronic Arts).
What Mode hopes to be is a place where data analysts come to share their work so that no one has to replicate what’s already been done and so that everyone can be more productive. The company says that Mode works with languages analysts are already familiar with -- SQL, R and Python -- and records their work from end to end to provide a complete, shareable, auditable picture of any type of analysis.
Good idea? We certainly think so. If they can get the analyst elite on board (once Mode is open, you can sign-up for early access now), we might bet on it.
The World’s Top VCs Bank on Big Data
You don’t have to ask some of the world’s most successful venture capitalists (Andreessen Horowitz, The Social+Capital Partnership, Formation8, Ron Conway and Anand Rajaraman) if they think Big Data is dead -- their wallets are doing the talking.
Late last week they sent along a note announcing Data Elite, Silicon Valley’s first venture lab for big data startups. They claim that data scientists want to solve massive problems in a setting of their peers versus a generally based incubator.
As a result, they are providing elite groups with everything they need to succeed: working space, support staff, a customer board and an A-list of mentors that includes among others the likes of Ken Rudin, head of analytics at Facebook; Jeff Magnusson, manager, Data Science Platform Architecture at Netflix; Anand Rajaraman, computer science professor at Stanford and founder of Kosmix, which became WalmartLabs in 2011.
Now it’s certainly worth noting that this isn’t a charitable effort -- data science for the good of humanity, or something like that -- these VCs believe that the data scientist teams they welcome into the incubator will create something big and in exchange for their $150,000+ investment, they’ll be looking for returns via common stock purchase and convertible notes.
Actian Brings Value to Big Data and Analytics
We’ve all heard it said that big data is the new oil and that analytics are the tools required for mining, but there’s something incomplete about that idea says Actian, a provider of big data analytics.