Part of our series on the significance of big data, we’d like to use this post to explain the difference big data insights can make on business decision making, and elaborate on just what data driven decision making, or DDD, is.
Let’s start with the latter. Informed decisions require information. Historically, to obtain such insights, a marketer, let us say, would turn to a large market research organization and pay a large sum of money to have a large experiment conducted, which may yield insufficient insights as they relate to the knowledge seeker. To revolutionize the time and cost ineffectiveness of big research, big data offered a radically different solution – don’t let somebody else study a sample when you can study your population.
Take this example, as offered up by Dr. Sean Varah for Wired.com, but we will put our spin on it:
To see the influence that data gathered from video would have, let’s take a mundane government question like, “Is it worth it to invest in new infrastructure to address traffic issues in the Bay Area?” Here in Burlingame, local citizens wanted a new crosswalk built across a busy intersection. The town had to employ a full-time person to stand and manually count every adult and child that crossed that intersection over a week — in order to measure how many citizens would benefit from that investment. This could have been accomplished with a single surveillance camera and video analytics, measuring people (adults, kids), and vehicles, turning the data into something that is actionable (and provides good ROI).
Of course, Dr. Varah is talking about how videos recording day to day activities can provide, in the context of this, governments with just how much traffic an intersection has typically without hiring an observer. But if we reanalyze in the terms of video traffic, not cars, we can demonstrate how big data services, like YOUBORA and the other NPAW technologies, can monitor video traffic.
When integrated into your data tracking platform YOUBORA minimizes the buffer ratio for your video stream which is especially useful for firms using multiple content delivery networks, or CDN. When a firm uses multiple CDN, it becomes difficult to monitor which are operating at full functionality, and which are in need of some tinkering. For OTT providers who use CDN switching to maintain quality video streams, thereby bouncing between effective and underperforming networks within their system, possessing software that gives detailed insights on which CDN to switch to is critical to keeping end-user audiences satisfied with their stream – and it is big data which provides those insights to the modern CIO.
We hope we have proven why big data services are essential, and will come to beat the drum of modern commerce, as more and more business moves online. When picking a business intelligence partner, we hope you remember us, the leader in data service to the online video industry.
Just another thing to think about from us here at NPAW.
James Noeker on April 15th 2016
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