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Expert: Big Profits Available in Big Data

The amount of data a company generate can lead to profit if used wisely.

These days, companies are relying on their IT networks more than ever. Between web-based phones, video and customer management, among others, the volume of data that a business generates can be enormous.

While this may strain the IT network, one expert recently asserted that such data growth can actually benefit companies and, if approached correctly, can be used to generate a profit.

Writing for Forbes, Empirix vice president of product management Bob Hockman stated that "networks have evolved into a strategic asset." By employing advanced network analytics, a company can use the data generated on networks to assess IT performance, customer behavior and other business aspects.

Hockman asserted that these practices can result in "providing a great customer experience" and visibility into the network, which, in turn, can result in better performance and revenue gains.

A 2010 study from EMC Corporation predicted that the "digital universe" - the total amount of digital information created by people - will increase 45-fold by 2020. Business that recognize this early may be able to turn this growth into an advantage rather than an obstacle, experts say.