Ken Mayland of Clearview Economics in Cleveland says data-mining and utilization is the latest tool companies are using to boost profits. And data-driven job shifts won't be limited to the insurance, banking, or retail industries. Online sales mean retailers need store clerks. Online banking will cause banks to reduce the number of tellers. He explains as data is processed companies will find ways to use technology to take the place of what people do now. Increased efficiency? McDonald is head of Columbus 2020, a jobs advocacy group affiliated with the Columbus Chamber of Commerce. That operational efficiency side means big data could mean staff reductions in those companies which employ a total of 54,000 people "Some of what's happening in data analytics will actually take away jobs," Kenny McDonald said. There's also clearly an operational efficiency side," Keller said. So there's clearly a growth and retention dimension to it. We can use analytics so that if we attract somebody to our website and they start to learn about us we can try to come back and offer them things more effectively than we could in the past. "We use analytics in marketing for example to gear our advertising to try to attract the right people. Enterprise Chief Information Officer, Mike Keller, explains how data analytics can hone in on the most efficient way Nationwide employees can do their jobs. Case in point: Nationwide Insurance with more than 11,000 employees in Central Ohio. The goal is to better serve customers and cut costs. So the seven firms will pool their data and analyze it. Collecting data So huge that the amount of data collected is difficult to organize and tease out valuable insights. If you just think about the amount of data that's coming off of that it's huge," Moses said. There are hundreds or thousands of sensors on each automobile alone. "The number of digital sensors that appear on just about everything you can think of from your coffee pot to your automobile is growing phenomenally. Ohio State University professor Randy Moses says the companies see business opportunity in exploiting consumer data that's already being collected and stored. The companies have pledged at least $28 million to set up a company to follow that data trail. But they all have two things in common - customers and the data trail those customers leave behind.
Nationwide, Cardinal Health, Huntington Bank, Ohio Health and American Electric Power also tend to operate in their own spheres. L Brands and Battelle don't do a lot of business together. But it also has the potential to cause disruption in the workforces of some of the city's largest private employers. And leaders say it will create 100 new jobs. They have joined together to form a new company to collect and share information. Seven of Columbus's biggest firms are making a big bet on big data.
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