Successful Client-Focused Implementations
Historically, “big data” has been used to define high growth, access and use of information in a data topology. The term “big data” puts at focus on the volume of data, but that’s only part of the story.
Worldwide information volume is growing annually at a minimum rate of 59 percent annually, and while volume is a significant challenge in managing big data, business and IT leaders must focus on information volume, variety and velocity.
Big data is a significant issue:
The ability to manage extreme data will be a core competency of enterprises that are increasingly using new forms of information — such as text, social and context.
According to an Economist Intelligence Unit survey, one percent of respondents reported no increase in the amount of data they collected throughout the previous year. The other 99 percent faced increases in the amount and complexity of data it collected. If that’s your case, an awareness of recent Big Data developments may be important to your organization.
Some enterprises have learned how to successfully extract valuable insights about customer-driven needs and complex/unknown relationships from their huge databases. Unfortunately, most enterprises still struggle to put all of their valuable data to good use. There is a strong link between successful data management strategies and financial performance that should make this area critical to every organization.