VIDEO: How big data becomes big value

Big data on its own won’t change the world for business, SAS Australia & New Zealand chief operating officer Lynette Clunies-Ross says. It’s only when you apply it to big opportunities that you create big value.

Speaking to BlueNotes on video as part of ANZ’s W:Drive initiative, Clunies-Ross said the companies making the most of big data are the ones using it to change the way they deal with customers.

"Every company is going to need analytics eventually if they are going to be competitive."
Lynette Clunies-Ross, SAS Australia & New Zealand COO

How big data becomes big value

“We know data is doubling every doubling every 12 to 18 months,” she said. “We have to deal with so many sources of data now – not just structured data but unstructured.”

“But big data is not that interesting in itself. When you apply big analytics to big opportunities, that’s where you really get value.”

Clunies-Ross said an understanding of big data and analytics will become increasingly vital for businesses in the future and encourages all professionals to learn the basics if they want to succeed.

“I think analytics is going to be pervasive,” she said. “I think every technology professional needs to understand analytics.”

“Every problem is going to have a data [solution] it in the future. Every company is going to need analytics eventually if they are going to be competitive.”

“People who are active in understanding it will be marketable in the future and relevant in the future.”

She also touched on the importance of girls in STEM (science, technology, engineering and maths) and how Australia needs to lean or fall behind. Watch the video above to find out more.

Angie Simmonds is business implementation manager, TSO at ANZ

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

editor's picks

02 Aug 2016

The fintech revolution: slower burn or slowly burning?

Andrew Cornell | Past Managing Editor, bluenotes

Venture capital investment hit a record in 2015. It won’t top that in 2016. The latest EY global venture capital trends report found $US148 billion invested through 8,381 deals in 2015 – the highest venture capital (VC) activity in nearly two decades.

02 Aug 2016

Our future: data in Australia

Dr Martin Joy | Senior Manager Public Policy, ANZ

Data sits at the core of banking. From customer insights to risk management, it helps banks understand what customers want and how they can meet demand effectively. Further, customers can benefit from access to data concerning them.

20 Jun 2016

Big data helps us see more when it comes to cyber security

Scott Collary | Former Chief Information Officer, ANZ

Trust is the foundation for success in the financial services industry. Not only do our customers trust banks with their money – they trust us with their information.