Integrating Big Data into your current business plan can be tricky, so Harvard Business Review's article “To Succeed with Big Data, Start Small” suggests not looking at the overall mass of data, but instead targeting smaller clusters to feel out the potential. Entrepreneurs with realistic expectations and the right tools will be capable of acquiring valuable information.
They suggest three steps for testing Big Data potential:
1. Define a few relatively simple analytics that won't take much time or data to run.
2. Instead of setting up formal processes to capture, process, and analyze all of the data all of the time, capture some of the data in a one-off fashion.
3. Turn analytic professionals loose on the data. They are used to dealing with raw data in an unfriendly format.
The full effort will now be less risky because data is better understood and the value is partially proven.
Timidly skimming the Big Data surface sounds cost effective but the time and efforts needed to decipher data by an analytics team could quickly eliminate initial savings. Businesses would benefit more from a Big Data solution that specializes in storing and breaking down insights and opportunities from Big Data using insight enabling infrastructures. Intelligent software like this empowers the user with a friendly interface and customizable features which can increase company efficiency and generate ROI.
Jennifer Shockley, October 10, 2012