Do you have a big data strategy?

By CIOReview | Thursday, March 8, 2018

With the advent of smartphones, IoT devices, et al, the tech world has witnessed a huge influx of data. While analytics largely is viewed from the purview of business intelligence, the data deluge has broadened its horizon. Organizations, these days, are constantly trying to optimize data of any kind and form. Big data analytics, therefore, has emerged as the go-to technology to mitigate the challenges in the data management spectrum. Most technology evangelists recommend expanding the contours of big data conversations so that it includes analytics, artificial intelligence, IoT, and machine learning, all tied together within a cloud infrastructure. Although many roadblocks inundate the path of big data adoption, organizations must realize that it is one of the best technologies that can assist them to navigate the current data conundrum.

Every business today is accumulating huge chunks of data in the form of customer information and interaction, merchant transactions, social media posts, and several others. In order to extract value from this enormous data flow, organizations need to analyze all of it in real-time. Having a big data strategy in place implies that the organization is data conscious and can implement guidelines to manage the enormous data stream and gain valuable insights along the way. Even if an organization is bereft of specific big data framework, it is not completely unrealistic. Big data demands greater investments and talent acquisition that can weigh down on the budgets of many small and medium scale industries. However, concerting all the organizational data is definitely a fructuous step towards ensuring better efficacy.

A robust and thorough big data strategy has become quintessential, these days, to thwart the challenges in the tech landscape. Organizations must realize, even though big data adoption is a bit tedious and expensive, they eventually have to embrace it.