Executive Summary – Big Data Visualization

Overview

$18.1 Billion dollars is one projection of what Big Data market will be worth 2013 (Other estimates have 2015 over $50 Billion). If we were able to obtain 0.1% of the market that would lead to $18.1 Million in revenue. Big Data is a collection of data that is generally too large, complex and rapidly created for common database management tools and processing application to handle. Big Data Visualization (BDV) is way to harness all of that data and present it in graphs, charts and pictures. Example – You are the manufacturer of the fans inside laptops. Your job is to insure that reliability of the fans each year is inline with the standards set by a computer manufacturer, if this isn’t met you could lose a major client. To research, screen, filter and process this amount of data with traditional methods the limitations become apparent quickly. With BDV charts and graphs can be generated easily saving time, effort and energy.

Positives

  • Additional service for existing and new clients

  • Differentiate from other online and offline marketing and consulting agencies

  • Diversify revenue stream

Negative

  • Upfront cost of software and hardware

  • Staffing – Training In-house or Hiring analyst

  • Companies with established record in market

Impacts on Business

As a online marketing and consulting agency, and as an industry, once we adopt this technology (because of “45% of the marketers surveyed say they lack the capacity to analyze Big Data”), we will be able to target high-value clients, and determine when and which clients to market too. A shift in the industry will happen, going from gut reaction, tradition and old information to decisions being based off near real-time data and information. Decisions made this way will reduce overhead and increase productivity and therefore profits.

Costs associated with this adoption can be managed if not offset. Many of the software offerings out there come with free trials, by using our company as a test client. We would be able to see the benefits for us and adjust our own marketing to bring in more clients, basically paying for training and the software. Additionally, the hardware costs can reduced by using a cloud service such as Amazon Redshift, HP Vertica, Cloudera, Google BigQuery or many others. There are companies out there will decent track records but most seem to focus on this one subject which leads to two options, we hire one as a consultant or differentiate from them by providing services they do not.

Diversifying our revenue stream without diluting our focus by offering big data visualization will allow us to offer a greater value to our clients. The increased value will result in increased billable fees. Additionally, we will attract new clients, who desire the new service, that we can potentially convert to accepting more services.

Recommendation

I would recommend that we adopt the Big Data Visualization as a new service offering. The Tableau software and Amazon Redshift would be the prefered software and cloud service to use. We should begin in house by testing the service with how effective our marketing is. We will use results of the test, to change or modify marketing approach and implement. If marketing results come back positive, I say we offer the service to a select few clients at a discounted rate or free. Afterwards, we gauge responses and results. Then, we begin full roll-out. At a minimum we should be able to charge $10,0000 per package of reports, and a to-be-determined amount fee for drill-downs, follow-ups and updates. The target groups we should aim for should be politicians, small and medium businesses with revenue over $50 Million. The BDV service will differentiate us from any local and regional firms.