The volume and speed with which data is now produced have given rise to the ‘Big Data’ phenomenon, and for organizations that fail to deal with this deluge of information it could result in all sorts of problems:
But there’s no doubt Big Data is here to stay – so what are some key things organizations need to do in order to make the most of it?
Find out who’s using big data and why
There are many reasons for organizations investing in Big Data projects, from competitive advantage to customer compliance. The key is identifying which area your organization can gain value from – whether it be business intelligence, optimization or risk mitigation. Without a clear goal in mind, it will be difficult to meet objectives and define a return on investment (ROI).
Be prepared before you start
It’s critical that any organization gets its house in order before embarking on a Big Data project. This means having a team together with the appropriate skillsets, processes and technology all ready to go. The worst thing an organization can do is expect its existing infrastructure to be able to cope with the demands of a Big Data project. Unless you want to be left high and dry, make sure your house is in order before you start purchasing appliances.
Know what big data can do for your business
Every organization has different needs and will therefore get different results from its Big Data projects. In order to get the most out of your initiatives, it’s essential that you know what questions you’re trying to answer by collecting all this extra information – because just throwing more data at a problem won’t necessarily give you better results. For example, an organization may find that historical weather trends have a significant influence on sales, so they set up a sensor network that feeds back information on temperature and humidity every hour so they gain a more accurate measurement of customer demand. The key is being able to understand which aspects of your business are susceptible to changes in environmental factors so you can be proactive rather than reactive.
Use open-source technology
Although there are many great commercial products out there, by opting for open-source solutions you’re not tied into an expensive support contract, which means cost savings and freedom from vendor lock-in. Furthermore, because the source code is freely available it makes Big Data projects easier to innovate with, allowing organizations to create their own applications or integrate new technologies into existing systems without having to start from scratch.
Start small but think big
You don’t need all the answers before getting started – in fact, one of the greatest things about Big Data is that you can get started with a small proof of concept and then scale up using the knowledge gained. It’s important to know how far you want to take your initial project, however, as it’ll determine what data sources need to be included and what questions need answering. This will also give you a better idea of exactly which technologies will suit your needs best so don’t bite off more than you can chew from the start.
Make sure everyone knows their role
Organizations adopting Big Data initiatives need to make sure everyone knows who’s responsible for different elements and ensure there are no overlaps in responsibilities or cross-departmental issues that may arise. For example, if two completely separate departments approached similar projects from different angles, they would end up with two incompatible conclusions which would be difficult to reconcile.
Make executives aware of what you’re doing
It’s important for organizations to remember that Big Data is not an IT project – it involves input from a wide range of departments throughout the organization and therefore needs support at an executive level if it’s going to succeed. Without the backing of senior stakeholders, projects are likely to fail or at best get minimal support, so make sure you bring your managers on board early on in order to gain funding and resources.
Make use of cloud storage services
As data volumes increase it can become increasingly difficult to store all the relevant information, not only from a capacity perspective but also because different technologies have different storage requirements. Many organizations are now opting for cloud providers instead as they’re becoming increasingly affordable and flexible – this means that you can easily scale up or down as necessary without having to make expensive investments in hardware. The added benefit is the ability to link your on-premise servers with cloud deployments – utilizing both gives you flexibility and security.
Conclusion:
By implementing the above points, you can learn more about Big Data and how it can help your business.