The “brontobyte” is not the world’s biggest dinosaur – as big as 12 African Elephants—that was discovered this year in Argentina — but a new unit of data measurement representing 1027 bytes. As Jerry Chang, Director, of Business Development at Mercury Systems explained to Dr. Cang Nguyen’s (DBA ’13) Statistics class said, this number represents the challenge and opportunity of Big Data for today’s businesses.
“In the age of inter-office print memos, we needed more information to make a sound business decision; now, however, in the age of Information Superhighway, we have too much,” said Chang. “The companies who learned how to analyze this information effectively will have significant competitive advantages; and so are the students who learn the critical thinking and data analytical skills through the courses offered at GGU.”
“…managers heavily depend on data and make decisions based on the data; but when setting the future for the company, visionary leaders often look beyond the data!”
Dr. Nguyen, himself a graduate of the DBA program at GGU, invited Chang to show students how decisions are made using Big Data in real-world situations. Chang cited 1-to-1 marketing as a way how business leverages Big Data. Companies strive to know what consumers want, when they want it, and how much they are willing to pay for it. Instead of focusing on mass market, business is now able to personalize and contextualize the individual market in anticipating focused prospects’ needs. Chang recalled a situation where he hoped that Google could figure out where he may need to buy an umbrella in anticipation during his travel to a new city with an upcoming shower rain.
Dr. Cang reported to Chang for 14 years at Microsemi Corporation – a company that provides semiconductor and system solutions government and industrial markets. Working in both R&D engineering and business development, Cang analyzed large data sets to identify the best possible product positioning and competitive advantages. Based on these data-driven decisions, Microsemi was able to design better products and create optimal product roadmaps.
Trends and the Future
Rather than looking back, as does the paleontologist, business people must have their eyes on the future. As Chang shared, “success in business goes beyond harnessing Big Data and has to do with having a vision of the future like Steve Jobs had. In daily business practices, managers heavily depend on data and make decisions based on the data; but when setting the future for the company, visionary leaders often look beyond the data!”