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Indicators that Big Data Has Arrived at Your Workplace

You’re having nightmares of the data monster approaching you like a bullet train in your sleep; divisions and business units are scrambling for revenue generation opportunities; CIO roles seem to either disappear or you are increasingly finding a CDO or CMO constantly hovering around your workplace. Everyone is talking about big data around you and worse yet, you are getting a lot of “big data” spam in your mail.

 

These are typical, initial signs of organizations or individuals having a feeling that something is coming. While these signs do not provide a solid, tangible reason for you to worry about the change, there are however some tangible things happening in your workplace.

#1 Indicator

Customer Social Chatter baffles your Webcare Team

Social media is a great medium to discuss your likes and dislikes. A small group of individuals speaking about your brand – whether good or bad, and discussing on open networks is a huge challenge you need to address. Reputation is not just one-way communication; it’s a multi-channel prospect these days. And therefore you need to proactively manage that!

#2 Indicator

Data Management is becoming overwhelming

The Data Governance model is broken; there are multiple and complex data sources; increasing demands to crunch data from all kinds of sources…sound familiar?

Whether non-profit/governmental or for-profit, many organizations think collecting data in files and doing simple “causal search” queries are enough to address business challenges. There are insufficient means (read: platform, teams etc.) to assess and analyze the captured data and more importantly this data is of no use when it comes to making inferences to actionable insights about stakeholders – whether citizens or customers. Then you know big data has arrived.

#3 Indicator

There is an increasing need for a “Unified Data Team”

Departments and business units have all data stored and processed in silos but continue to miss out on the collective insights and wisdom when it comes to taking action. Value is being delivered in “batches”, while customers are moving over to your competitors. Time to start thinking about a customer-driven data hub.

#4 Indicator

Need for Data Insights in real-time is growing

Managers are increasingly coming up with “real-time data insight” requests while you do not have a big data platform; you lack a data-driven team that can promptly answer those problems. Basically you are helpless.
Your conventional tools are incapable of handling storage, measurement and/or do not have the analytical capabilities to deliver actionable insights; you know big data has arrived.

#5 Indicator

You want to store all historical data and ramp things up when you need to!

Long ago (read: yesterday!), there was someone else who was storing and archiving data, we never even knew who he/she was. We rarely needed to look up the historical data, only in cases of reactive events and regressive-pattern analytics. We would answer questions like “what happened then” and basically close the book.
Today, you can make both linear (where possible) and non-linear correlations to identify patterns on consumer behaviour with a rather high possibility* (see note below) and use them effectively to predict their future behaviours and thereby identify patterns.

#6 Indicator

You Are Feeling Left Behind

You have heard that a competitor within your industry vertical and others even outside your industry are using some creative, experimental and exploratory means to predict behaviour and you have a bad feeling that you are not part of that movement!

#7 Indicator

Your Data is Slowing You Down!

Your conventional tools, platforms, teams are incapable of being up to speed with how you want to act. You are thinking big but your data is small, distributed largely and working at a snail’s pace.

#8 Indicator

Your Data Storage Solution Is Not Optimal

You cannot store all that data in your current storage solution. While data is growing exponentially, you may not be able to either pay the price or house such cumbersome solutions within your facility.

#9 Indicator

You are missing the right Tools to manage Data

Traditionally, data analysts were busy running select sets of queries on conventional tools but today they may lack critical thinking and to add to their misery, the tools too are not built to crunch data from data sets that are high in volume, velocity and variety. Spreadsheets might unfortunately not cut it when it comes to skimming, scraping, and mining into vast quantities of data.

Benefits of Big Data in your Organization

Big Data and Analytics is suddenly becoming a huge business-value driver within organizations. Your business too is in desperate need to fix those issues and speed up to be ahead of the rest. Think about the benefits for a while:

Traditionally, data analysts were busy running select sets of queries on conventional tools but today they may lack critical thinking and to add to their misery, the tools too are not built to crunch data from data sets that are high in volume, velocity and variety. Spreadsheets might unfortunately not cut it when it comes to skimming, scraping, and mining into vast quantities of data.

  • Clever social intelligence analytics could help protect and enhance your brand. By not only addressing angry clients but by crunching their behaviour you could show pre-care before they stumble. Imagine the loyalty you could gain!
  • Unified intelligence teams – The technology makes it possible to analyze data across silos, data sets, but imagine if you had an intelligence hub that could transform you to see data in one place, all the time.
  • Living and breathing real-time analytics – Gaining actionable insights in real-time, you will need a platform that can support you in doing so. Platforms exist that can offer a high degree of accuracy and dependability when running real-time analytics.
  • Big Data, Big Practices – This will come as you develop business-driven cases on an exploratory and experimental basis. You will, however, need to set up a best practice eco-system to encourage learning and experimentation.
  • Scalable, Inexpensive Computer Fabric Platform – To achieve all of the above you will need a robust yet modern platform. Think Apache Hadoop and other Hadoop based open-source commercial solutions such as Cloudera, Hortonworks, MongoDB. These platforms are elastic and scalable, making them very attractive to not only run exploratory avenues but also mission critical workloads. Their data storage algorithm makes it easier to scale without the strain on your corporate wallet.
  • Right tools for Data Scientists – Your data specialists must put the right tools into place to achieve the desired result. This eco-system is growing rapidly.
    Finally big data has most probably arrived at your workplace. Chances are high that you are either in an exploratory phase or the decision-making phase. Your company is in need to investigate new avenues to blast away from the mundane “business as usual” mode to “doing business unconventionally”.

Good luck with your big data journey!

NOTE: * Predicting the future accurately was previously considered a myth, but this is increasingly the new race to real customer utopia.