Big Data is ‘irrelevant' to businesses, says Tibco

Tibco CTO says ‘fast data' needed to let firms react quickly to events

Big Data analytics relies too much on historic data and has failed to provide businesses with the real-time information needed to supporting fast decision-making, according to the CTO of software provider Tibco.

Speaking at the Tibco Transform event in Paris, chief technology officer Matt Quinn told delegates that many firms have looked at Big Data as a "science experiment", using months or years of historic data to find valuable insights rather than reacting to events as they happen. The company is coining a new term, 'fast data', to describe a different approach to analytics.

"The challenge with big data is that it has not gained relevance to your everyday life and to the operational decisions you are making on a daily basis," he said.

"It may improve things, or point out inefficiencies in your business model, and it may point out opportunities, but the problem is that you are finding a needle in a haystack once.

"What 'fast data' is all about is being able to find the needle in a haystack again and again, based on unique circumstances and the context in real-time, at that particular moment of interaction."

Fast data is part of Tibco's sales pitch as it expands its business from its traditional application integration products into offering events processing, analytics, social and data visualisation technology. In April, the company added to its portfolio with the acquisition of business intelligence software provider Jaspersoft for $185 million.

For Tibco, the fast data concept means combining data from a variety of business systems - such as business applications, cloud services and mobile devices - and bringing these together to perform event processing and analytics to deliver meaningful information to the enterprise.

According to Quinn, the ability to utilise data in real time has become more important as business models change at a quickening rate across most industries - meaning that business data from five to 10 years ago will often have little relevance to actions being made currently.

"Given today's pace of change in business, the ability to act in context right now is more important than seeing that you should have done something different six months later," he added.

"It may be perfect, it may be the right decision in six months, but you can't go back in time. So being 80 percent right at that particular moment is more valuable in many cases that being 100 percent right after you can no longer or influence the decision."

He added: "Fast data doesn't replace big data, fast data is the next step in the evolution and revolution that was stated with big data."

Customers of Tibco include Airbus, BNP Paribas, and Western Union, which recently spoke to ComputerworldUK about its big data analytics strategy.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Data has the power to build or burn brands

A brand can be severely wounded by use or misuse of any of its assets and you could say data has the greatest power of all to inflict damage.

Lucy Acheson

Head of data strategy and customer experience, LIDA

Totto and your inorganic future

At Cannes Lions this year we’ve been treated to many artificial intelligence (AI) insights. It’s one of the major discourses of our time.

Richard Brett

CEO, opr

Personas of one and the rise of ‘always there’ marketing

I’ve got some bad news. The ‘always on’ marketing approach that many companies have only just fully implemented is already out of date.

Nigel Roberts

Founding partner and strategy lead, Yell

I enjoyed reading your article. It all starts from creating a persona of your ideal customer. Once you understand the needs then you can ...

Ardie Cash

4 skills needed for a marketer to sit on boards

Read more

A very prestigious list. Cant wait to see who ends up in this years list. Cheers!!

Diganto

CMO50 2018 is now open for submissions

Read more

Hi, where can I read about the results of the recent Salesforce Digital Advertising 2020 report? I would very much like to look at the an...

Milla Cross

Salesforce chief strategy officer: Why it’s a transformative time for customer service

Read more

I have had that scenario with the mail happen so many times! I never thought anything of it, maybe because I have become desensitized. I ...

Diana Da Silva

Data has the power to build or burn brands - Data-driven marketing - CMO Australia

Read more

Hello! Thanks for the informative article! I would like to know how much this article https://reply.io/sales-emai... objectively reflects...

Zhanna Partfinenkova

Salesforce chief strategy officer: Why it’s a transformative time for customer service

Read more

Latest Podcast

More podcasts

Sign in