For decades companies have survived without Big Data, but visions of disappearing dollar signs have entrepreneurs re-evaluating their analytics. The Forbes’ article “The Deadly Cost Of Ignoring Big Data: $71.2 Million Per Year”, puts Big Data into a whole new perspective. Now, businesses are ready to make the changes necessary to harness those millions they could be losing.
Initiating a new business strategy geared towards Big Data is not as difficult as some would believe:
*Take Time to Strategize: Work with key stakeholders and business units to understand their data needs. Incorporate their feedback to improve processes across the business
*Think Analytically: Improve your analytical support team and ensure managers have the applications and access they need to examine business-critical information first hand
*Ask for What You Need: Leverage industry-specific applications and software where available. If your needs are not being met, alert your management team and/or industry suppliers
*Invest to Improve: Arm your organization with the appropriate technology, staff, and systems/processes needed to optimize information for true business intelligence
Big Data is overflowing with unlimited resources and businesses need reliable software to extract relevant information, ensure efficiency and generate ROI. Polyspot offers a unique information management solution that utilizes insight enabling infrastructures to store and break down insights and opportunities while providing users secure, enterprise wide access. Entrepreneurs using innovative technology with customized tools like this will achieve beneficial results and those fading dollar signs will reappear.
Jennifer Shockley, September 27, 2012