From travel to media, marketing, telecom, and more, investments in Big Data are impacting the current business scenario dramatically—and in more ways than one. With Fortune 500 companies and other organizations jumping into the fray, it has now become important to understand Big Data trends. Yes, there’s an urgent need for mastering these trends for bigger success across different industry verticals.
Globally, chief information officers (CIOs) and chief marketing officers (CMOs) are now facing grave challenges with regards to converting big data into equally large-sized profits. With a view of driving unprecedented business growth, CMOs are demanding that the customer data accumulated over the years be now used for generating increased revenue. On the other hand, CIOs, having the knowledge and technology for boosting revenues, are insisting on more feasible requirements for undertaking big data initiatives.
These 5 top tips for turning Big Data initiatives into above mentioned market growth will help your cause too. Read on for more!
1. What’s the Processing Power Like?
These days, organizations are boasting of an ever-increasing pool of business specific data that’s extrapolating every minute. A powerful processor has to be in place before these companies start driving their massive volumes of data towards effective assets. Here, many questions arise with regards to your Big Data implementation needs too. What are the ways of processing data? Are they fast enough? Are your systems reliable? And so forth. The right processing systems, or super computers as they are called, are required for accurate and timely processing of data. You need to track performance metrics of your existing processing system, and ensure that you have the appropriate bandwidth and capability for managing them effectively.
2. Readily Adapt Changes and look towards Long Term Planning
Big Data is all about looking towards the future. With it in place, there’s no way that you can remain confined to present day technologies and resources. In the current scenario, data pools are becoming larger at a breathtaking speed. You need to be technologically equipped to manage the same. So, as you gear up to handle the many benefits and challenges of Big Data with its best practices, tools, and methodologies, you need to be prepared for all that might come your way tomorrow. Flexibility in business intelligence, complete openness to new products ideas, and long term planning is what you need to invest in at this stage.
3. Hadoop in Warehouse
The presence of Hadoop in warehouses is working just great for many industries. While Hadoop is responsible for all the unstructured data that’s capable of being utilized for future use, the data warehouses are stacking structured and important data. Hadoop is best at analytic processing and totally complements the shortcomings of data warehouses in this field. Overall, the combo works just great!
4. Your Natural Instincts Matter too!
Despite having all the benefits of high-end technology in place, your natural instincts pertaining to understanding patterns and detecting flaws are very important too. Along with visual discovery tools that are useful for procuring timely information, it’s essential to involve better data analysis tricks for treating all kinds of data differently. Yes, do know that different approaches are required for different Big Data pools—so you need to act accordingly.
5. Safe Storage is a Must
Big Data security should obviously be the foremost priority as organizations go forward with its implementation. It’s advisable to understand all current and future data risks, identify common attacks, and aim for the highest levels of security in data storage. From encrypting all kinds of data, to the authentication of store keys—everything should be 100 percent safe. The good news is that it is not very complicated or costly to secure Big Data; it all depends on how smartly the big data environment has been created.
So, are you prepared to adopt these 5 effective tips for turning Big Data into big success—begin right away!