recentpopularlog in

jerryking : premise   2

Start-Ups Are Mining Hyperlocal Information for Global Insights - NYTimes.com
November 10, 2013 | WSJ | By QUENTIN HARDY

By analyzing the photos of prices and the placement of everyday items like piles of tomatoes and bottles of shampoo and matching that to other data, Premise is building a real-time inflation index to sell to companies and Wall Street traders, who are hungry for insightful data.... Collecting data from all sorts of odd places and analyzing it much faster than was possible even a couple of years ago has become one of the hottest areas of the technology industry. The idea is simple: With all that processing power and a little creativity, researchers should be able to find novel patterns and relationships among different kinds of information.

For the last few years, insiders have been calling this sort of analysis Big Data. Now Big Data is evolving, becoming more “hyper” and including all sorts of sources. Start-ups like Premise and ClearStory Data, as well as larger companies like General Electric, are getting into the act....General Electric, for example, which has over 200 sensors in a single jet engine, has worked with Accenture to build a business analyzing aircraft performance the moment the jet lands. G.E. also has software that looks at data collected from 100 places on a turbine every second, and combines it with power demand, weather forecasts and labor costs to plot maintenance schedules.
start_ups  data  data_driven  data_mining  data_scientists  inflation  indices  massive_data_sets  hyperlocal  Premise  Accenture  GE  ClearStory  real-time  insights  Quentin_Hardy  pattern_recognition  photography  sensors  maintenance  industrial_Internet  small_data 
november 2013 by jerryking

Copy this bookmark:





to read