Everything in this world generates data or is Data- #5
Data, in today’s business and technology world, is indispensable.
Businesses that can analyze this data for gaining insights have an
advantage over those who operate in a dark or no -data environment.
Big data refers to the rising volume, velocity, variety, variability, and complexity of data, insights, and content from multiple sources.
Big data is not merely about identifying or generating data though that is an important starting point. It also relates to the capabilities and competencies associated with storing and analyzing such massive data sets to execute a level of decision making.
Big-data-driven decision making is more accurate and timely than anything previously attempted in the absence of organized data models and sets. Big data involves the creation of a data lake and an ecosystem where different sets of data interact to produce business insights.
Data ecosystem is created by establishing an infrastructure to collect, connect and harness the data from various channels.
Take a Health Check of Your Analytics Engine
How much internal processes and customer data are you collecting as an organization?
How do you analyze the data to get insights?
How do you share the insights across multiple BU’s of your company to optimize the ‘data to decision’ cycle?
How mature is your data analytics engine- do you analyze what happened, what is happening or what will happen? Optimize for predictive analytics maturity state.
Sidhartha Sharma
