May 18, 2016
In This Episode
Sometimes buzzwords are unavoidable. In this episode Brian and Daniel exchange views on the role of big data analytics in better business decision making. Not discrediting having the right mindset, the magic of gut feel, or the importance of context - the data we have available to us today gives us the power to make decisions like never before.
What IS Big Data?
In the opening few minutes Daniel leads with big data as a whole most often needs clarity. What is it? What does it mean? Outside of a niche community, when the term big data is thrown around, most people don’t actually know what it is. Data and big data is not a new thing. Companies have been collecting data for hundreds of years. Technology has enabled collection of data to migrate from notebooks to computers to the cloud. Simply put, big data is extremely large data sets that can be analyzed to reveal patterns, trends, and associations.
The collection of data may not be new but the ability to analyze big and small data sets to make smarter business decisions is. But still we’re faced with a dilemma. Are we asking the right questions? Are we focusing on the right problems? What keeps CIO’s and CFO’s up at night?
Demonstrating the Value of Big Data
In the second half of the episode Brian points out that demonstrating the value of big data can be challenging. Selling the use case to management requires actual examples of how department transparency of data will improve overall company operations. Equate to saving money for extra bonus points! Focusing on solving business problems - not data problems.
What if we treated big data like little data? Big can be scary and little is palatable. Maybe that’s the secret to making big data less of a buzzword and more of a success facilitator for businesses of all sizes.