- Take small bites. When you are ready to start digging into Big Data, start with a prototype and refine your processes before undertaking a major initiative. Once you have standard methodologies in place that capitalise on your internal data and support consistent, streamlined business processes, take a small piece of the business and inject one or two new data sources to see if the benefits outweigh the cost and distraction. Testing the waters - and the results - will help you keep things under control and better harness the true potential return on Big Data for your business.
Certainly, Big Data has the potential to deliver big value. However, the size of that potential and the most effective ways to utilise still need to be better explored. Organisations need not only put the right talent and technology in place but also structure workflows and incentives to optimise the use of Big Data in a manner that achieves clearly defined business and cost efficiency goals.
Data collection and analysis are becoming more and more critical - companies will increasingly need to integrate information from multiple data sources, often from third parties, and the incentives have to be in place to enable this. However, organisations that carefully watch, plan, and act when the time is right on Big Data will be best served with the information and insights Big Data analytics can deliver.
Sign up for MIS Asia eNewsletters.