aNewDomain.net — The process of analyzing large datasets from multiple sources –that’s Big Data in a nutshell — is process you’re easily able to leverage to boost productivity.
Most organizations aren’t sure what to do with all that data. Or they’re just using a bit of it — the tip of the Big Data iceberg, so to speak. Analysts say most businesses, excluding research companies, are missing out. The firm estimates that more than 97 percent of businesses are missing out on big data benefits. They’re simply behind the curve, says Gartner Group vice president and analyst, Debra Logan. She adds:
It’s almost as if this is a solution looking for a problem.”
But don’t let your organization pass up on the benefits of large data sets. Below the fold find five Big Data tips. They’ll help you turn huge data sets into assets that will actually help you and your company become more productive.
First, identify your organization’s problems and consider ways Big Data can help.
Think of tangible results you’d like to see in your company before you even start delving into complex data analysis. According to a McKinsey Global Institute report: “Big data can unlock significant value by making information transparent and usable at a higher frequency.” Find more on that report here. Bottom line: Focus on action-oriented results and work with a business process strategist who is able to merge your goals with big data.
Second, consider your internal data first. Start simple.
Leveraging data accessible your organization could be enough to start addressing the company’s goals. Examples of variables include sick days, performance information, and product inventories. Analyzing digitized, transactional data like this can unlock new insights.
“People tend to think of big data as social media and the Internet of Things — IoT. They feel the need to immediately go outside of the enterprise to mine that type of data, and sometimes that is necessary,” writes Ron Kasabian for InformationWeek, “But integrating outside data adds complexity. I would argue that there is a significant amount of untapped value in the data inside the organization.”
Next, set milestones. And be realistic.
Data is data. In the end, it’s up to you to interpret how or whether Big Data is even relevant to you and your organization. Prioritize. And if something doesn’t work, move on. Make sure you focus efforts on data analysis and that you’re not wasting a lot of effort on dead ends.
Be ready to convince the Big Data skeptics.
Not everyone’s a trailblazer. Big companies, especially, have procedures and policies that are difficult to shake up. Corporate inertia is endemic to even the edgiest of companies. Build evidence as a way of building trust with those who approach new ways of doing things with fear and trepidation. Think of yourself as the bridge that links forward thinking strategy with more commonly-accepted approaches.
And finally, be flexible.
Big Data is a relatively new and still evolving technology. It’s a moving target. And it’s not going to be a one-time investment, either. Be flexible enough to move with the changes — and commit to shift along with the tech itself. In the end and along the way you’ll be rewarded with new insight, insights you glean from smart and flexible Big Data plans.
Those are my five big data tips. Do you have any to add? Leave me a note below or email me at raquel@aNewDomain.net.
For aNewDomain.net, I’m Raquel Cool.