*From the book, Handbook of Statistical Analysis & Data Mining Applications by Bob Nisbet, John Elder and Gary Miner. Copyright 2009. Published by arrangement with John Elder.  |  Bio: John Elder, PhD, is the founder of Elder Research Inc., a leading data mining consulting firm. The material in this article is from Chapter 20 of the book, Handbook of Statistical Analysis & Data Mining Applications, with Bob Nisbet and Gary Miner.

But like Mandel, I disagree. I think we’re spinning our collective wheels. Biotech, alternative energy, health care, and in almost every other industry, has produced little impact on the innovation front. While we’re all still enamored with the Internet, social networking, and cloud computing, old and inefficient systems in other key industries have remained in stubborn place. The US government owns 60% of GM as a result. This is one example in a sea of many sad cases.

1. No shortage of data consolidation and re-platforming opportunities as a byproduct of the years and years of departmental and otherwise non-centralized data warehouse development

The drive for a reduced infrastructure footprint from the boardroom is finally giving the directors and vice presidents who preside over the various overlapping data warehouses in the environment reason to point out the redundancy.  Data consolidation projects have straightforward ROI at some level - the lower carrying costs of the multiple environments.  

2. The emerging specialized future, providing new and confusing opportunities