Analytics pay back over $10 for $1 investment: HP

HP Discover 2012

FRANKFURT, GERMANY: Businesses will be able to generate up to ten times as returns if they invest in data mining tools, as per an HP executive who was addressing the gathering at the second day of HP Discover 2012 here.

According to Colin Mahon SVP and GM, HP Vertica, analytics can pay back $10.66 for every $1 dollar.

He noted that businesses cannot ignore unstructured data anymore because as per estimates 90 per cent of digital content created by 2015 will be unstructured. Then, about 75 per cent of currently deployed data warehouse will fail to analyse such unstructured data. Moreover, While, today data scientists use Yottabyte to measure data and moving forward Brontobype will be the unit of measurement of data.

"When you throw away (unstructured) data, it is like throwing away money. We have the means for you to take information, keep it around forever and monetise it," adds Mahon.

He also added that companies need to harness the power of information and products such as Vertica and Autonomy can help them in achieving it.