Big Data is a high-volume, high-velocity and high-variety collection data that is so large and/or complex that traditional database management tools and applications have problems processing the information effectively.
Big Data already improved marketing, strategizing in businesses, data collection tools, data visualization and more.
Users learned to deal better with the data flood that our daily life exposed to.
However, just possessing information it is not sufficient. – Not all data is suitable. – Nor do all insights drive value.
Big Data users in healthcare, finance, businesses and government etc. demand improved, more cost-effective, advanced tools of data processing for better insight and decision making.
Why are Big Data not more useful?
- Missing Data Analytics
Companies of all sizes gather data from their website analytics, CRM accounts, third-party data pools and more – called amalgamation Big Data.
The problem is that it basically ends there at collection information without further data analytics and having a lot of business impact. - Siloed Data
Most data is stored in several disconnected silos, which are repositories of data that organizations rarely use in day-to-day operation. Siloed data cannot exchange information with other systems in the organization. This makes it is difficult to gain insights across a whole organization. Technologies that allow to mobilize data in silos make them really usable is highly needed. - Disparate Data
Another big problem is that data from different data sources and managed through different tools are not created equal. How to compare data that cannot be compared? We need intelligent tools that transform data structure in a universally readable format, better data implementation for targeted research and establish a means for understanding data sets as a whole.
Software and IT teams need to develop innovative methods to ingest disparate data sets to allow better insights that lead to actions including business plan modeling, implementation of business goals, tracking and optimization procedures. - No Good Use of Big Data Tools
There are several real-time data analytic tools available that are not sufficiently used but would allow to learn more about specific target audiences or market developments in the moment. Other tools include, though still in the early development, decision support algorithms that analyze data from different data sources to give recommendations and projections – a process that is highly needed in the healthcare and financial sector but also for businesses.
Better data and better uses of data will make Big Data bigger.
