Welcome!

Cloud Expo Authors: Aria Blog, Yeshim Deniz, Elizabeth White, Raja Patel, Brian Lavallée

News Feed Item

Big Data for the Little Guy: What’s Next for Consumers, Small Business

Big data is no longer the exclusive domain of big business.

A new 10-year forecast commissioned by Intuit Inc. (Nasdaq: INTU) envisions a “new data democracy” where small business owners and consumers make smarter, more informed decisions by gaining access to a wealth of new information. “The New Data Democracy: How Big Data Will Revolutionize the Lives of Small Business and Consumers,” was prepared by Emergent Research and is the latest in Intuit’s 2020 research series.

“Big data has long been seen as a big opportunity for big business,” said Brad Smith, Intuit president and chief executive officer. “We actually think that the biggest opportunity is giving consumers and small businesses the power of data. We look forward to a new era where big data benefits the little guy.”

Three Findings on the Future of Data

The new report reveals three important trends for consumers and small businesses as big data continues to grow and proliferate:

  • The New Data Democracy – Data will become a new vital raw material for consumers and small businesses. As access to and the ability to refine this massive volume of information into powerful analytical tools grows, data will become a new type of resource, on par with capital and labor.
  • Data Empowers Consumers – Data will help people navigate the maze of modern life. With people connected through the global grid and mobile devices, data will shape decisions both large and small, inform purchasing decisions and create communities and relationships.
  • Data Drives Main Street Digital – Big data will move from Wall Street to Main Street. Armed with insights and capabilities once only available to corporate giants, small businesses will create new ways to operate more efficiently, finding new customers, improving their bottom-line results and driving economic growth.

“This research details how consumers and small businesses will benefit from the growth of big data,” said Steve King, partner at Emergent Research, a research and consulting firm focused on the small business sector of the global economy. “We are at the onset of a data revolution that will provide new and meaningful ways for data-empowered consumers and small businesses to connect and engage with their communities, make decisions and simplify their lives.”

Intuit’s Focus – Giving Customers the Power of Data

Intuit is entrusted with the collective data of 60 million customers – a unique pool of data that covers the financial spectrum – ranging from individual purchase history to business inventories. Of the company’s 60 million end users, 45 million use connected services – cloud, mobile and digital services – creating a valuable source of data and insights.

Intuit’s unique focus on delivering “Big Data for the Little Guy” empowers individuals and small businesses by allowing them to benefit from the power of their own data as well as the collective wisdom of millions of fellow Intuit customers. This means that small businesses now have access to insights that were once only available to big, multi-million dollar companies, and enables consumers to put their own data back to work for them.

“Data is the catalyst that is powering new innovative products that will improve the lives of our customers and help us grow our business,” said Smith.

The New Data Democracy in Action

Connected through the global grid and mobile devices, the data revolution will shape how individuals make decisions, change the rules of commerce and level the playing field for small businesses and consumers. Intuit is already bringing powerful data-driven insights to its customers. Examples include:

  • QuickBooks Online's Trends feature, which anonymously aggregates customer data, allows small businesses to see how their income and expenses stack up against similar businesses. For example, a roofer in Philadelphia grossing $250,000 a year can compare results with other roofers in the area or across the country.
  • Demandforce, which provides the leading consumer demand creation solution for small businesses that empowers them to tap into their own data to grow revenue, keep clients coming back, and manage operations more effectively. Demandforce has delivered more than $1 billion in incremental revenue for its 35,000 small business customers.
  • Intuit Loan Finder, a new service that helps small businesses obtain capital faster and at lower rates from lenders. The service also helps lenders make more informed risk decisions, increasing the potential for small businesses to obtain a loan quickly.
  • Mint, which customers rely on to interpret their unique data to help them save money on everything from lower credit card fees to better mortgage rates. Through its Ways to Save engine, Mint has identified more than $2.4 billion in savings for its 10 million users.
  • Mobile Purchase Rewards, which allows consumers to receive customized discounts based on personal buying habits, which they can redeem with the swipe of a debit card, no coupons required. The savings are then automatically deposited back in their checking account at the end of each month.

Looking ahead, Intuit is exploring new and meaningful ways to create connections between its 60 million customers. For example, in the past year, more than 1.2 million Mint users did business with nearly 70,000 QuickBooks Online customers, resulting in 3.3 million transactions. By empowering these connections, Intuit can provide data that delivers new and meaningful insights to help customers thrive.

“All of Intuit's data-driven innovations are built on a strong foundation of privacy, security and customer choice,” said Barb Lawler, Intuit’s chief privacy officer. “We have a 30-year legacy of handling financial data with the utmost responsibility and care. We will continually work to safeguard our customers as we develop innovative new data-driven benefits for them.”

Suggested Links:

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,500 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

Intuit and the Intuit logo, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Cloud Expo Latest Stories
Hardware will never be more valuable than on the day it hits your loading dock. Each day new servers are not deployed to production the business is losing money. While Moore’s Law is typically cited to explain the exponential density growth of chips, a critical consequence of this is rapid depreciation of servers. The hardware for clustered systems (e.g., Hadoop, OpenStack) tends to be significant capital expenses. In his session at 15th Cloud Expo, Mason Katz, CTO and co-founder of StackIQ, to discuss how infrastructure teams should be aware of the capitalization and depreciation model of these expenses to fully understand when and where automation is critical.
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects – scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e., the largest single medical system in the United States.
In his session at 15th Cloud Expo, Mark Hinkle, Senior Director, Open Source Solutions at Citrix Systems Inc., will provide overview of the open source software that can be used to deploy and manage a cloud computing environment. He will include information on storage, networking(e.g., OpenDaylight) and compute virtualization (Xen, KVM, LXC) and the orchestration(Apache CloudStack, OpenStack) of the three to build their own cloud services. Speaker Bio: Mark Hinkle is the Senior Director, Open Source Solutions, at Citrix Systems Inc. He joined Citrix as a result of their July 2011 acquisition of Cloud.com where he was their Vice President of Community. He is currently responsible for Citrix open source efforts around the open source cloud computing platform, Apache CloudStack and the Xen Hypervisor. Previously he was the VP of Community at Zenoss Inc., a producer of the open source application, server, and network management software, where he grew the Zenoss Core project to over 10...
Most of today’s hardware manufacturers are building servers with at least one SATA Port, but not every systems engineer utilizes them. This is considered a loss in the game of maximizing potential storage space in a fixed unit. The SATADOM Series was created by Innodisk as a high-performance, small form factor boot drive with low power consumption to be plugged into the unused SATA port on your server board as an alternative to hard drive or USB boot-up. Built for 1U systems, this powerful device is smaller than a one dollar coin, and frees up otherwise dead space on your motherboard. To meet the requirements of tomorrow’s cloud hardware, Innodisk invested internal R&D resources to develop our SATA III series of products. The SATA III SATADOM boasts 500/180MBs R/W Speeds respectively, or double R/W Speed of SATA II products.
14th International Cloud Expo, held on June 10–12, 2014 at the Javits Center in New York City, featured three content-packed days with a rich array of sessions about the business and technical value of cloud computing, Internet of Things, Big Data, and DevOps led by exceptional speakers from every sector of the IT ecosystem. The Cloud Expo series is the fastest-growing Enterprise IT event in the past 10 years, devoted to every aspect of delivering massively scalable enterprise IT as a service.
As more applications and services move "to the cloud" (public or on-premise) cloud environments are increasingly adopting and building out traditional enterprise features. This in turn is enabling and encouraging cloud adoption from enterprise users. In many ways the definition is blurring as features like continuous operation, geo-distribution or on-demand capacity become the norm. NuoDB is involved in both building enterprise software and using enterprise cloud capabilities. In his session at 15th Cloud Expo, Seth Proctor, CTO at NuoDB, Inc., will discuss the experiences from building, deploying and using enterprise services and suggest some ways to approach moving enterprise applications into a cloud model.
Until recently, many organizations required specialized departments to perform mapping and geospatial analysis, and they used Esri on-premise solutions for that work. In his session at 15th Cloud Expo, Dave Peters, author of the Esri Press book Building a GIS, System Architecture Design Strategies for Managers, will discuss how Esri has successfully included the cloud as a fully integrated SaaS expansion of the ArcGIS mapping platform. Organizations that have incorporated Esri cloud-based applications and content within their business models are reaping huge benefits by directly leveraging cloud-based mapping and analysis capabilities within their existing enterprise investments. The ArcGIS mapping platform includes cloud-based content management and information resources to more widely, efficiently, and affordably deliver real-time actionable information and analysis capabilities to your organization.
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity. In his session at Internet of @ThingsExpo, Mac Devine, Distinguished Engineer at IBM, will discuss bringing these three elements together via Systems of Discover.
Cloud and Big Data present unique dilemmas: embracing the benefits of these new technologies while maintaining the security of your organization’s assets. When an outside party owns, controls and manages your infrastructure and computational resources, how can you be assured that sensitive data remains private and secure? How do you best protect data in mixed use cloud and big data infrastructure sets? Can you still satisfy the full range of reporting, compliance and regulatory requirements? In his session at 15th Cloud Expo, Derek Tumulak, Vice President of Product Management at Vormetric, will discuss how to address data security in cloud and Big Data environments so that your organization isn’t next week’s data breach headline.
The cloud is everywhere and growing, and with it SaaS has become an accepted means for software delivery. SaaS is more than just a technology, it is a thriving business model estimated to be worth around $53 billion dollars by 2015, according to IDC. The question is – how do you build and scale a profitable SaaS business model? In his session at 15th Cloud Expo, Jason Cumberland, Vice President, SaaS Solutions at Dimension Data, will give the audience an understanding of common mistakes businesses make when transitioning to SaaS; how to avoid them; and how to build a profitable and scalable SaaS business.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
SYS-CON Events announced today that Solgenia, the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between personal and professional social, mobile and cloud user experiences, our solutions help large and medium-sized organizations dramatically improve productivity, reduce collaboration costs, and increase the overall enterprise value by bringing collaboration and infrastructure solutions to the cloud.
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, will explore the synergies in these two approaches, with practical tips, techniques, research data, war stories, case studies, and recommendations.
Enterprises require the performance, agility and on-demand access of the public cloud, and the management, security and compatibility of the private cloud. The solution? In his session at 15th Cloud Expo, Simone Brunozzi, VP and Chief Technologist(global role) for VMware, will explore how to unlock the power of the hybrid cloud and the steps to get there. He'll discuss the challenges that conventional approaches to both public and private cloud computing, and outline the tough decisions that must be made to accelerate the journey to the hybrid cloud. As part of the transition, an Infrastructure-as-a-Service model will enable enterprise IT to build services beyond their data center while owning what gets moved, when to move it, and for how long. IT can then move forward on what matters most to the organization that it supports – availability, agility and efficiency.
Every healthy ecosystem is diverse. This is especially true in cloud ecosystems, where portability and interoperability are more important than old enterprise models of proprietary ownership. In his session at 15th Cloud Expo, Mark Baker, Server Product Manager at Canonical/Ubuntu, will discuss how single vendors used to take the lead in creating and delivering technology, but in a cloud economy, where users want tools of their preference, when and where they need them, it makes no sense.