Big Data Analytics: Pursuing Multi-Million Dollar Opportunities
Five people. Six months. $10 million in ROI. Those were the parameters and goals of Intel IT’s initial big data projects, which started in earnest three years ago.
”We wanted to prove that big data analytics are achievable and valuable,” says Itay Yogev, advanced analytics director for Intel IT. “And we wanted to realize a significant payback in a short time frame with only a small team.
If current activities are any indication, those initial projects were wildly successful. According to Yogev, Intel IT has completed more than a dozen big data initiatives within the original parameters. Now the organization is pursuing much higher value opportunities.
Identifying those opportunities is a matter of understanding Intel priorities, he explains. Some of the programs are based on current initiatives, such as accelerating the design and development of System-on-Chip (SoC) products. Others are ongoing business imperatives, such as reducing costs and increasing revenue. In all cases, the company is tapping the collective wisdom of Intel IT, as well as an advanced analytics team that is distributed among, and entrenched within, different Intel business groups.
Once project possibilities are identified, the advanced analytics team works to quantify them. Through a comprehensive value assessment, the potential return of each project is calculated, including the probability of success and the estimated time frame for achieving it. The projects that can deliver the desired ROI in a reasonable amount of time with a minimal amount of risk are formally pursued, while all others are placed on hold for future consideration.