MAY 15, 2013 9:01am ET

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Data Velocity: Why Decreasing Your Time to Insight Matters

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Data pioneers promised us the three V’s. Yet, more than a decade after the introduction of these “transformative” concepts, (volume, variety and velocity of data), most businesses have yet to master this hat trick. And they simply cannot afford to wait much longer.

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Comments (3)
Great to see Accenture and others in the industry get behind Gartner's "3Vs" of Big Data we first defined over 12 years ago (ref: http://goo.gl/wH3qG). And yes, velocity is underutilized, but our research shows that it's the variety of data that represents the greatest opportunity. --Doug Laney, VP Research, Gartner, @doug_laney
Posted by Douglas L | Wednesday, May 15 2013 at 12:02PM ET
Good article.

With so much focus on data, and broader realization across the industry that data driven decision yeild best ROI possible, there is increasing focus on multiple aspects of data into decisioning process.

For every decision (or insight) there is a context. Context will always vary based on business process, place, industry, specific timing and other factors at that time and place. For some insights, volume will be critical for some variety and for some velocity or combination there off.

I personally think that Velociy has to be taken in context. Every piece of data (no matter how fast or slow it is generated) has a decision shelf life, in that, if decision is taken based on insight within the shelf life time period, it is valuable and effective. Many factors outlined above for the context will dictate what is the "right" timeline for insight. Overall I agree that in todays fast paced world, reducing time to insight is key, but insight alone will not help if other systems (and processes) within the organization can not react as fast as insights are available. So I would say that reducing time to action is key and not just time to insight.

Posted by Vish A | Tuesday, May 21 2013 at 4:45PM ET
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