Big Data & Analytics: Listening to data
By Steven Braid, Data and Marketing Analyst
There’s a saying that “data is king.”
For many years, this became the goal for many Fortune 500 companies, as many of the largest organizations essentially became data compilers as a second form of business (for example, Facebook or Google.) There was an arms race to collect as much data as possible on consumers - who they were, what they did, and what they bought.
However, the importance placed on data has shifted towards other business objectives. Yes, data is important. And yes, it is extremely valuable. But, if you don’t know what to do with the data, or how to use the data, or how to store the data, the data in of itself becomes totally worthless. In reality, knowing how to use the data is the end goal — and now big data and analytics companies are king.
The importance of this industry can be seen in the BlueStar Big Data & Analytics Index (ticker: BDATA), which tracks the largest and most liquid companies that derive at least 50% of their revenues from solutions focused on database management, data platforms, dev-ops, big data analytics, or API Management. Though it has slowed down in recent months, BDATA is up nearly 39% YTD. With the world accumulating more and more data, big data and analytics companies should continue to soar.
BlueStar Big Data & Analytics Index
Source: MV Index Solutions. All values are rebased to 100. Data as of 30 June 2021.
Steven Braid is a Data and Marketing Analyst at MV Index Solutions. He is responsible for supporting the data, marketing, research, and product services. Prior to working for MVIS, Steven worked as an equity research analyst for Dane Capital Management, a special situations hedge fund, where he focused on SPACs and other forms of special situation transactions. Prior to his time in Finance, he worked as a professional journalist, publishing for the New York Times, USA Today, and other national periodicals. Steven has a M.S. in Data Analytics & Applied Research from the Baruch College Zicklin School of Business, and a BA in International Political Economy from the University of Michigan.
The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.