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08-17-2015 02:45 PM

Thanks Dan. We need ways to evaluate the cost effectiveness of Big Data applications. This need is even higher among the small/medium businesses who don't know whether to invest or just stay in the same-old same-old mentality.

Cost Accounting in Big Data Analytics

By Daniel Smith posted 08-17-2015 11:38 AM


For those of you who don’t know me, most of my time is spent justifying why moving to Big Data and/or a Business Intelligence platform is a worthwhile investment.  Lately, I’ve been making an effort to evangelize the value add (i.e. value proposition) of such tools in a more efficient manner.

For example, in a recent article on TIBCO’s blog, I attempt to use some a basic cost accounting principles (efficiency and effectiveness) to help Oil and Gas companies consider making the switch:

Another example, way at the bottom there is a link to nice little tool I designed. It allows a user to input some basic assumptions about their current and estimated projects, as well as some efficiencies created from migrating to a more advanced analytics platform. 

We used a platform as a service tool called ShinyApps which gives us a front end to display back end R calculations. You can check it out here:  The password is “ABCTool” no quotes. 

I hope these examples of using Cost Accounting in Big Data inspire all of you to think about analytics in a new way, let me know your thoughts below!

#BigData #CostAccounting #analytics
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