Chief Data Officer Mario Faria is a this week's Big Data & Analytics Hero and top data and analytics consultant. Read on to find out how Mario is focused on driving change and delivering business results.
How have big data and analytics impacted how you do your job today?
I have been involved with Business Intelligence, CRM and Digital Marketing since the mid 90s. Personally I hate the term big data. Although it sounds great, it is not very good semantically. For me, instead of big data, I like to call it Analytics (capital A). I have been working and implementing Analytics solutions for a long time. What is new today:
- It has finally caught attention at the C-Level executives
- We can do today much more than in the past, because technology has involved tremendously
- We are now able to solve problems we could not solve in the past, because it was not feasible or because the cost would be very high
My job was, is and will be building the bridges of business needs and the technology world. And Analytics was, is and will be the main component of my work.
How are big data and analytics changing your business strategy?
According to MIT, I am one of the first chief data officers of the world. My CDO role started at Boa Vista, a credit bureau company in Brazil, which is partly owned by Equifax. Also, I was the first buyer of the PureData System powered by Netezza technology platform in Latin America. We bought the solution because it allowed us to compute credit scores much faster than the traditional solutions. We also started to do some serious data science with the platform, and as a result, we started to bring products to market faster. By lowering our time to market, we became more competitive. And by understanding our data quality and applying serious programs, our market share increased.
This experience is helping me here in the United States. I am helping other customers to understand how they could think outside of the box when they really understand what is applied data science and a quality program can bring for their business.
How can big data combined with analytics improve the world we live in in 5 to 10 years?
2014 is the year of the wearable computer. Combined with sensors all over, we will be able to collect more and more data about human beings. Data generation will really start to explode. So, in 5 to 10 years, every company (those who survive the turmoil) will be an analytics company and will use data for their efficiency and effectiveness. Tell me of a company today that does not have computers or internet access? So, in 2023 all companies will have the same computing power as Google or NSA today in processing analytics. People who work in those companies will be very analytical and the usage of a data-driven decision framework will be common to whatever functions they have.
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