Each week, DailyTekk connects you with leading experts on a given topic as part of our Understanding series. This week we are focusing on explaining Big Data. Yesterday we highlighted some creative examples of companies who have harnessed the power of Big Data and today we’re focusing on avoiding pitfalls associated with implementing a Big Data strategy. Last week we focused on Instagram Marketing.
What Major Pitfalls Can and Should Be Avoided?
Sanjay Sarathy: “When thinking about big data, there are two fundamental issues to think about. The first is how an organization searches for and analyzes the data about which it knows something (the “known unknowns”). However, what is far more difficult and more relevant in the realm of big data is how companies analyze data about which they know nothing (“the unknown unknowns”). The biggest pitfall to avoid is to ensure you think about both ‘types’ of data when you implement a big data solution, rather than just the former which is more intuitive and, honestly, easier to manage.”
“Know what specific business problem you are looking to address, and how any insights will get ‘deployed’ into real-time business operations. Companies that set up an environment to collect data with no idea of what problem they will solve, or how the insights will get used in business operations, often flounder. Successful companies ...