Is big data such a big deal? Wondering if there’s more buzz than beef behind the noise?
Truthfully, for many businesses, ‘big data’ is a problem. The massive data sets are complex, unwieldy and can become the focal point of internal battles about who owns the responsibility to bring them under control. And ‘big data’ is only going to get bigger.
The explosion is being driven by our seemingly insatiable desire for more information from more sources. Savvy organizations know there’s a gold mine of information about customer preferences, piques and peeves to be found in social media, warranty information and customer service feedback – most captured anecdotally and all unstructured. There’s data now collected based on sensor technology that can tell you where a product is located, how well it is performing, if the temperature is safe, etc. There’s the structured data we all know and love – forms, contracts, purchase orders – that live in our databases and is easier to manage, at least in theory. Less so now, but arriving fast on the scene, is audio and video data captured from phone conversations, meetings and other live interactions.
It’s no wonder we’re drowning in data. The questions we all have to answer are what data matters to us, where can we find it and how can we be sure it is the best possible resource for us. The good news is that there are strategies that can help determine which data you collect, shape and manage.
And that will be covered in our next post.