Building Big Data Exploitation Strategy

Posted on April 10, 2015 12:15 am

Technology has altered how businesses are conducted ranging from from employees easy access to personal as well as business data irrespective of location and type of device, through to emergence of new business models like managed services or sharing economies.The approach to building a data exploitation strategy depends entirely on understanding what data to be collected as well as understanding how data can be leveraged.Cloud computing is an integral part in this fundamental change, offering a significant potential for small firms to enter new markets and survive in the new digital economy.Cloud computing has allowed organizations to rapidly scale their computer resources, manage and process myriad of data, and help control their IT spending.Any organization working on its strategy need to clarify its business goals and strategies,map out areas of impact are found across processes, data, and decisions.Investigating what could be observed and recorded as information and data, then it will be possible to audit and characterize.

After knowing your data assets, then its possible to identify areas of opportunity where machine learning and decision automation will add the highest value to organization’s strategic objectives.That said, with data growing at 40% a year into the next decade and IT spending only rising by more than five percent globally,there is an increasing imperative to invest.The challenge for many of today’s business leaders is understanding what type of cloud solution makes the most sense for their organization, as one size does not fit all.The result is a targeted list of data to collect, or data gaps to address, and a qualified list of hypothesis to be tested. If the tests prove valuable, then the strategy is to industrialize them.As small firms mature, the right cloud solution can help ensure that number only decreases.Finding the right balance between the business’s long- and short-term goals and resources available can be a challenge.Across the world, most business lack enough resources to effectively implement a hybrid cloud approach that requires time,financial resources,in-house technical expert with knowledge of the cloud infrastructure both public and private elements.

There is no doubt data is the lifeblood of any business and ensuring IP is safe is imperative.Me thinks that Organizations need to consider how to deploy a reliable cloud structure so that mission-critical applications and data are always available.If an organization has a designated IT team, it is important that it believes in a service-oriented approach, rather than the traditional infrastructure-oriented thinking. This will ensure any technology implemented now will ultimately prepare the business for the future. There are plenty of companies out there offering strategy and policy development as well as the ability to leverage leading edge social network tools for real-time virtual collaboration and operational support. When it comes to security measures, there is need to balance the probability of a threat occurring, the impact of a security breach, and the cost of implementing counter-measures. To avoid putting an organization’s data at risk while keeping costs low, it should find a middle ground and establish what data needs to be placed in private clouds or public clouds.

Contador Harrison