How organisations are succeeding with Big Data
In the 12 years I have been handling the analytics around Big Data, never has the excitement around these topics been so bullish like this time round. I find myself talking with friends and reading a lot more about it in the research publications that focuses on it. Big Data and analytics discussions extends to IT sector, Marketing, business who are dying to know more. Advanced capabilities to collect, integrate and process the data, then to gain insights and business value from the data is the foundation for success with Big Data with an organisation’s ability to acquire, explore, understand, and leverage it. A researcher working with Mc Kinsey Global recently told me that Big Data requires a lot of caution especially the IT decision-makers the level it well founded. in his own words, the technology, approaches and best practices around Big Data have been evolving rapidly over the past few years and to his knowledge, Big Data is overhyped and has a long way to go before it becomes a mainstream solution.
Analytics tools and techniques are much stronger now and they appear much more mainstream in the areas of interactive visual analytics with the ability to provide powerful statistical modelling and predictive analytics. Naturally, data users are attracted to spending less time and getting much more out of Big Data. With these tools, both data analysts and businesses can interactively explore and use data to gain new insights. Data visualisation, better display of Big Data and data discovery tools, for example, can help banks in determining the main cause of the dissatisfaction among a high percentage of customers. He however informed me that application Integration has matured to the point where it is now a relatively routine task to integrate complex, high-volume data sources. Exquisite log management technologies that collects information from many systems, across geographies, are widely available. He mentioned an American company that has over 2 billion customers in over 150 countries that is using advanced integration capabilities to collect and process the diverse information and incorporate it into active Big Data analysis for spotting opportunities.
Data cleansing, data translation, and master data management tools and techniques have also matured to the point that it is feasible to process complex, dirty data sets with much greater confidence than earlier years. Using these technologies, companies in Europe are managing customer and product information and are incorporating this information in real-time Big Data inventory and customer management processes. The concerns about getting good, clean data into the data store can now be comfortably addressed. These areas have even matured to the point that there are cloud-based offerings for data integration, data cleansing and master data management, significantly lowering the cost and long lead times. It’s now a cakewalk to publish focused data subsets for audiences throughout the enterprise, which gives users capabilities of interacting with the data, and gaining the insights and discovery tailored to their specific needs.