Big data. It’s a buzzword in today’s business world for a reason. We have the ability to capture more data than ever in the history of mankind. But how do we effectively collect, organize, and interpret the large volume of data available to us?
Could the answers lie in Canada?
Alongside their global peers, Canadian businesses are building data-led organizations to drive innovation, improve customer experience and increase returns. The most significant part of this evolution is the emergence of analytics to support the shift from a process-centric viewpoint to one that is more data-centric and data-driven.
EVP examines top Canadian companies harnessing data into information that informs, supports, and drives decision making.
Data Driven Decisions
As the premier global provider of market intelligence and advisory services for the information technology, telecommunications, and consumer technology industries, International Data Corporation (IDC) leverages market data to drive business development.
Vito Mabrucco, SVP Worldwide Consulting & Managing Director, IDC Canada, highlighted, “Our services enable companies to use data intelligence to develop strategic growth plans for businesses’ tactical implementation. This kind of insight helps you to target particular markets and stay relevant and ahead of coming trends.” The key to IDC Canada’s custom solutions is in the company’s ability to harness the power of all this data through its measurement and management tools.
Another organization that is using data to drive business in a very specific niche industry, is Toronto’s WatrHub. Using its proprietary Artificial Intelligence engine, the company scours through millions of public records and government databases to look for predictive indicators of water utility needs. Turning this volume of data into actionable information allows WatrHub clients to make better strategic decisions and prioritize the right targets. These clients, typically suppliers and manufacturers that sell to water utilities, count on WatrHub to grow their business by uncovering new opportunities for prospect and client relationships.
While the volume of raw data continues to skyrocket, it is information and insight that is the valued currency across the Information and Communication Technology industries.
Gandeephan Ganeshalingam, Chief Innovation Officer at GE Customer Innovation Centre explained, “Our customers have all kinds of data outputs, but do not know how to interpret it. Our engineers, who are familiar with data, are working to build software solutions for the ICT industries to create more outcomes for business.”
The company’s industrial platform Predix, acts as the operating system for the Industrial Internet, connecting industrial equipment, analyzing data, and delivering real-time insights. “Continuous data acquisition, coupled with timely response demands robust and scalable technologies,” explained Ganeshalingam. “Predix is purpose-built to offer software services that deliver actionable intelligence, transformative insights, and effective control.”
Meeting the Demand for Satellite Communications and Data Security
The need for collecting, organizing, and interpreting data on the ground is clear. Communicating large data via satellites is a huge industry that’s been around since the 1960s and today is at the center of TV distribution, internet access, broadband to ships and planes, and a host of other services. Telesat is one of the most successful and respected providers of satellite communications.
“Through our unique combination of space and ground assets, Telesat provides reliable and secure communications solutions – nationally, regionally and globally,” noted Telesat President and CEO Dan Goldberg. “Building on Telesat’s strong record of innovation and our global fleet of 15 geostationary satellites, we are now developing a global constellation of Low Earth Orbit satellites to meet the surging demand for data-centric applications around the world.”
Finally, as the volume and value of big data climbs, as does the need to protect it, KDM Analytics is leading the data security industry by automating risk analysis for electronic data systems. “The larger the company, the higher the data security risk. Protecting big data systems is especially important for pillars of infrastructure like governments, financial institutions, energy companies, and other mission-critical organizations,” explained Founder of KDM Analytics, Djenana Campara.
In today’s fast-paced business environment, the evaluation period to make decisions has shortened while the amount of data available has grown. The ability to quickly turn this volume of data into useful, actionable information will determine the market leaders. Top Canadian companies will continue to use a forward-looking approach to data utilization to ensure business decisions are driven by targeted insights and analytics, and that the data is accessible and secure on a global level.