Sramana Mitra: I think most of the big data solutions nowadays are being delivered in either public or private clouds. Sandy Steier: But in that case, the purpose of the cloud is merely an outsourcing mechanism, so you don’t have to have your own computers and your own data center. It is not open to
Sramana Mitra: What is one of the most significant representative use cases outside of finance? Sandy Steier: We will use retail, where there are a couple of interesting use cases. The first is an internal kind of data analysis. Retailers produce a fair amount of data – as we all know – every time a
Sramana Mitra: You made a comment that some of this data [consists of] regular large data repositories, but some of it falls in the domain of big data. Would you elaborate on that? What do you define as big data? Sandy Steier: I think defining big data is a serious challenge, because I don’t think
Sramana Mitra: More than they needed to. Sandy Steier: One of the things that now everyone knows is that they are very complicated securities. So complicated in fact, that in some cases they are too complicated to be safely traded. In those days they weren’t as bad as today; nevertheless, they required a lot of
Sramana Mitra: So it is both NYSE branding and NYSE data and you are providing the framework for analyzing and manipulating that data, but it is their data and their brand. Sandy Steier: That is correct.
Sandy Steier is the chief executive officer of 1010Data, the leading provider of cloud-based big data analytics. Sandy counts more than 25 years of experience in the industry and is known as one of the innovators behind the adoption of advanced analytics in the financial sector. In this interview Sandy gives us insights into 1010data’s
Sramana Mitra: According to you, you are operating at the very end of the big data spectrum. There are infrastructure players that provide the infrastructure for big data to be processed and researched. Then there are the applications that provide the domain knowledge and the logic based on such data. You provide the presentation layer