$50 billion. That’s about how much marketers are spending on Big Data and advanced analytics (according to a BMO Capital Markets report) in the hopes of improving marketing’s impact on the business.
This investment reflects the Big Data trend prevailing in the market. From telecom to marketing and from travel to media, Big Data is playing its role everywhere. The search engine has examples of hundreds of Big Data success stories including few from the Fortune 500 companies.
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So, we know Big Data is growing bigger day by day and the only way to turn it to our success is mastering the trend. Here are 5 quick tips for turning Big Data to bigger success across industries. Keep the below mentioned list in place and you are ready to hit the Big Data world.
Is Your Processing Power Good Enough?
Every organization has massive data that keeps increasing every minute. Before you start driving this data towards effective assets, you need to have a good processing power in place. How are you processing the data? There are systems, the so called super computers that process your data. Your job is to track it and make sure that you have the bandwidth and capability to manage these systems effectively.
Hadoop Alongside Warehouse – Does it Sound Weird?
Well, this combination works great for organizations. While data warehouse stores your important and structured data, Hadoop includes all the unstructured data that can be analyzed for future use. Data warehouse is weaker at analytic processing and that’s what Hadoop is best at. Together, this combo makes a great impact.
“Big data isn’t a replacement for data warehousing,” writes Third Nature CEO Mark Madsen in his article “What big data is Really About.” “Nor is it an island to be maintained separately. It’s part of the new IT environment.”(Source)
Stay Open to Changes – Plan for Long Term
With Big Data, you cannot stay confined to present day. The data is turning bigger every minute and so is the technology to manage the same. The tools, methodologies and best practices of today are good but what might come tomorrow, will be better. Maintain a flexible business intelligence that is open to new products and new ideas. Plan for long term and adopt newer changes and best practices from the market.
Not Just Store but Store it Safe
Security should be your top priority when it comes to putting up your Big Data in place in organizations. Understand the data risks, identify the common attacks and maintain security to protect the same. Be it encrypting data or authenticating your store keys, keep it safe. Securing big data might neither be expensive nor complicated. It depends on how smartly you build your big data environment.
Did you know? The organizational cost of data breach is $5.4 million or $136 per lost record.
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Don’t Ignore the Natural Instincts
Though technology is high-end, you should never ignore the natural instincts of detecting flaws and understanding patterns. There are visual discovery tools that are used to find timely information. Visualize data analysis that treats every data differently which is important because different data requires different approach.
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Also, feel free to share your Big Data tricks and stories in the comment section below.