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7 Tips To Succeed With Big Data 2014 0
7 Tips To Succeed With Big Data 2014 0
7 Tips to Succeed
with Big Data in 2014
Just when you thought big data couldnt get any bigger, it got bigger still. Regardless of its
actual size, big data is showing its value. Organizations everywhere have big data of all
shapes and sizes. They recognize the importance, the opportunity, and even the imperative
to pay attention. It has become clear that big data will outlive those who ignore it.
Organizations that have already tamed big data the multi-structured mass they stored
before they knew its worth are improving their operational efficiency, growing their
revenues, and empowering new business models.
How do they do it? Their techniques for success can be summarized in seven tips.
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A well-crafted, thoughtful
visualization makes the
light bulb go off. You just
dont get that with a
spreadsheet.
Dana Zuber, Wells Fargo
Aberdeen Group found that at organizations that use visual discovery tools, 48
percent of BI users are able to find the information they need without the help of
IT staff. Without visual discovery, the rate drops to a mere 23 percent.
Also, managers using visual data discovery were 28 percent more likely than
peers without visualized data to find timely information, according to the study.
Perhaps most important when it comes to big data, the report found that
visualization also encourages interaction with the data. Managers using visualized
data are more than twice as likely as their peers to interact extensively with it
(33 percent vs. 15 percent). Theyre also much more likely to ask questions on a
whim, questions that are often inspired by insights that arose a moment before.
Exploring data visually lets the datas story unfold vividly in a way the brain
can grasp in a flash. A light bulb goes off, says Wells Fargo Vice President of
Strategic Planning Dana Zuber says, You just dont get that with a spreadsheet.
Source: Jock D. Mackinlay, PhD, How to See and Understand big data, 2007
Aberdeen Group, Visualization: Set Your Analytics Us-ers Free, David White, August 2013.
With these simple steps, you enter whats called the Cycle of Visual Analysis:
you get data, view the data, ask and an-swer questions, and repeat. Each time,
your inquiry deepens along with your insights. You may drill down, drill up, or
drill across. You may bring in new data. You may create view after view as your
visualization speeds and extends your thinking.
When youre ready, you share. Colleagues ask and answer their own questions
accelerating the whole teams in-sight, action, and business results.
See and interact with the live web dashboard on your desktop, iPad or Android tablet.
4.
Third Nature and SAP, The Value of big data: Using big data to examine and discover the
value in data for accurate analytics. 2013.
5.
Alone, each dataset may provide value. Stitched together, they offer big value.
In the consumer goods industry, for example, executives get a full understanding of
customer behavior only when theyve blended sentiment data with purchase data.
You get a rich variety of data through loyalty cards, said Unilever director of
analytics Rishi Kumar. Its important to blend all this data together to understand
why people enter the shop and fill their baskets. This lets Unilever anticipate
popular products and new trends.
The most value goes to organizations that blend relational, semi-structured, and
raw data with minimal up-front cost and without bothering business users about
the technology. Its done, and thats good enough.
Whether your data is in a spreadsheet, a database, a data warehouse, open
source file systems like Hadoop, or in all of those, you need the flexibility to
quickly connect to data and consolidate it.
That lets you ask and answer questions as they come to mind no matter how
big, or small, your big data may be.
6.
Forrester Consulting, big data Needs Agile Information And Integration Governance, 2013.
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