Sunday 22 April 2018

Is Big Data Still Relevant?

We live in a data driven culture, but the concept of big data can be interpreted in many ways and is often used in reference to data capture, curation and storage. The need for greater access, data resources and integration has led to a shift in how we think about big data in its most traditional sense:

From Data Storage to Data Intelligence

A study by IDG Enterprise found that 70 percent of enterprise organizations already or plan to deploy big data solutions in 2014. While data infrastructure and storage were the primary areas of focus when the term became popular, there is now more investment on different aspects of big data that focus on putting information in the hands of those that drive decision-making. Investments in software applications, analysis tools and staffing are all components of an organization’s big data strategy.

What was initially a technology group challenge is now permeating throughout organizations. Data integration, improved data visualization and quality analysis are now major concerns for organizations and teams of all sizes.

Ownership of Big Data

The right technology is still integral to success, but there are many more sources to consider and more team members that need access. There’s an organization-wide need to start using data to make smarter, more informed decisions.

To make the big data concept work will require executive alignment. More specifically, the CMO and CIO (or CTO) need to be aligned. Their collective vision for technology, staffing, delivery and overall direction need to be in lock step. Their customers should always be top of mind.

Big Data Adoption

Education and applied learning continue to be a barrier to data proliferation. A 2013 eMarketer report found that U.S. business executives need more education on big data application to solve business problems. In the same report, it was found that 78 percent of U.S. business and IT executives agree that harnessing all of their data would make them a much stronger business, making data-based actionable intelligence is still a goal worth striving for. Market leaders want data to be easy to understand, structured and accessible so they can glean insights that give them an advantage or fresh perspective.

The promise of improved access to actionable, data-driven insights is very appealing. Big Data will continue to evolve as business needs shift and technology advances. The demand for more insights to inform marketing and optimize performance will continue to make big fata relevant now and in the near future.

Image credit: BigStock

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