Big data has the potential to revolutionize any business who chooses to embrace it—but it also has the potential to end up in failed expectations and lost money for the organizations that take it on without much thought other than “we should do this.” Bob Violino writes in this article about how one can work on avoiding the “big data bust” which can occur when organizations take on a big data initiative without some of the common risks.
Make it a Central Tenet
The first tip for success is to make big data a central business tenet. Citing the thoughts of Rearden Commerce CTO Phil Steitz, the article shares how open dialogue is essential between the analysts and the rest of the company:
Part of this approach includes developing a small, high-powered team of data scientists, semantic analysts, and big data engineers, then opening a sustained, two-way dialog between that team and forward-thinking decision makers in the business, Steitz says.
“The biggest challenge in really getting value out of contemporary analytics and semantic analysis technologies is that the technologists who can really bring out what is possible need to be deeply engaged with business leaders who 'get it' and can help winnow out what is really valuable,” Steitz says.
The article also explains the value of assuring strong data governance and data accuracy. After all, with big data there is the possibility of big problems whenever a single piece of data is incorrect (or large amounts of data are mishandled).
Read the full article here: http://www.infoworld.com/d/business-intelligence/5-strategic-tips-avoiding-big-data-bust-215296