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Data-Driven Business Models: Challenges and Opportunities of Big Data

June 6, 2017

This report draws on interviews with 28 business leaders and stakeholder representatives from the UK and US in order to answer the following questions:  How is (big) data being used; what is a ‘big data business model’? What are the main obstacles to exploitation of big data in the economy? What can and should be done to mitigate these challenges and ensure that the opportunities provided by big data are realised? There is optimism about profit potential, but experts caution that big data does not automatically lead to profits. Many business leaders do not see ‘big data’ as a new phenomenon; rather it is perceived as being a continuation of a process by which companies seek competitive advantage or efficiency through the application of (data) science and technology.

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Spotlight

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Qubole is a leading Big Data as a Service provider. Ashish Thusoo and Joydeep Sen Sarma, creators of Facebook's big data infrastructure and Apache Hive, founded Qubole to make it simple to prepare, integrate, and explore Big Data in the cloud. Qubole's Big Data as a Service Solution, Qubole Data Service (QDS), runs on the top performing elastic Hadoop engine on the cloud and includes a library of data connectors with a graphical user-interface for Hive, Pig, Ooze and Sqoop. QDS makes it easy to inspect data, author and execute queries, and convert queries into scheduled jobs. With QDS, the power of Big Data meets the simplicity of the cloud. The largest brands in social media, online advertising, entertainment, gaming and other data-intensive ventures trust QDS to handle their most challenging Big Data requirements at a fraction of the cost of alternatives. Customers include Pinterest, Quora, MediaMath, Insightera, Vocanic, TubeMogul, Decide.com, BigCommerce and many others.

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