October 21, 2014

What Big Data means for The GovCon World

by Colin Quinn

In todays world with the internet of things, you can easily see big data in play when a tailored ad pops up on your Facebook page or a product “you may like” appears on your Amazon page. But how does this transformative technology operate in the GovCon world?

“The rise of big data analytics technology has allowed government agencies to analyze the outcomes of their programs, tighten the efficiency of their operations, and identify areas to cut costs.”

“The wealth of information that the public sector manages—from the data it collects from government programs to the data it is able to mine—affords opportunities for insight through analysis,” the report stated.  At the same time, budget cuts caused Management to specifically ask that agencies “acquire, analyze, evaluate, and use data to improve policy and operational decisions.” – Deloitte

Information is currency in both business and government sector; but many federal contractors don’t have the key data they need readily available, or the tools to make difficult financial decisions.

And that’s something many in GovCon sector see as a big opportunity! Big data represents two important trends impacting federal agencies:

  1. Growth of large, unstructured data sets and real-time streaming of information from multiple sources coupled with the need to apply sophisticated analytics to massive amounts of information in order to draw insights.
  2. Need to make difficult financial decisions with accurate data and information in real-time.

And for the first time there is an answer to these two problems:

  1. Kinetek4Cast – Easily leverage your data from open sources systems such as Deltek Costpoint, including actual costs, revenue, indirect rate applications, employee attributes and project attributes to make better informed decisions.
  2. Kinetek Dashboards – Extend your current investment; allow secure access to your key information, by role and deliver data analysis through a convenient dashboard display – from any device or location in real-time.