Big Data: Wall Street & Technology Article

Summary:

‘Big Data’ holds big promise for Wall Street (and everyone else), but also comes with some complications and steep learning curve and a very tight labor market for people with these skills.

SLTI Commentary:

There are a lot of lessons that can be transferred from Wall Street firms into other industries. Of course the subject matter is going to be different, but the methods used to pull actionable outcomes or architect a technology solution are not all that different.  The challenge we see a lot of companies facing is how to get started down an analytical path. This is a daunting task since all of the talk in the industry is around functionality and feature sets Learn More. The tools available are very capable, but are generally racing ahead of the buyer’s ability to internalize the changes the tools and metrics recommend.

Source:

http://www.wallstreetandtech.com/articles/232901529

Great New Amazon Web Services (AWS) Announcement – DynamoDB

Solid Logic has been using Amazon Web Services (AWS) since 2008 now with great results.  Today was a big day for the AWS team.  They launched a new NoSQL service -DynamoDB- today around noon.  Like the other AWS offerings (EC2, S3, etc.) it is a scalable, variable cost service.  Here is the product listing page and other relevant info: http://aws.amazon.com/dynamodb/

Werner Vogels’ blog: http://www.allthingsdistributed.com/2012/01/amazon-dynamodb.html

Announcement Video:

http://www.youtube.com/watch?v=3I5PZv6vmZY

DynamoDB Overview Video:

We primarily use EC2, S3, CloudFront, and RDS (MySQL as a service).  AWS allows us to be much more agile and can reduce system complexity.  It removes SLTI from many of the day-to-day demands of setting up and managing physical infrastructure.  By using AWS, we are able to launch an internal or client application in minutes to hours, instead of days to weeks.

There are tons of great reasons to switch many use cases over to an AWS cloud-hosted infrastructure instead of a physical one.  In the future, we will work up our spin on a cost-benefit model for AWS.  There are many good ones available on the web, most notably here – http://aws.amazon.com/economics/.  Unfortunately, many of the ones available do not include any intangible benefits.  In this case, I am defining an intangible benefit as something that is “fuzzy” to put a price figure on and is subjective in nature.  Things like how it can affect focus, hiring practices, time-to-launch, required in-house skill sets, etc. would fit into this category.  These items can have a huge impact on the decision making process, especially for small-to-medium size firms or firms outside of concentrated technology areas with a large pool of qualified candidates.

We are excited about today’s announcement and look forward to using DynamoDB for a product that we have coming to market in 2012.  As we begin to work with it more, we will try to document our findings and include them in the blog over here.

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