What CIO’s should know about big data

In Data & Analytics by wayneLeave a Comment

 

utilising new data effectively

 

If you are a CIO chances are you have been asked the question "”do you utilise big data?"”, and some of you will answer "no"” because you might think there is no need for it because you don't have enough data to warrant getting it,but this is a question you should seriously consider,  because chances are you do or you soon will.

 

Joab Jackson from  CIO magazine gives us 5 tips CIO's should know about big data.

 

1) You need to think about big data: originally only big companies such as Yahoo and Google had enough data to make the most of it, but the truth is that these days even if you are a small company you may have terabytes of useful data. In the next few years a wide number of industries such as health care, public sector and retail will all start to use big data which will benefit them financially.

 

2) Useful data can come from anywhere: Thinking that your company does not have enough data worth analysing is the wrong approach because the beauty about big data is it collects information that would have fallen through the cracks ,you will be able to access information for example – who has checked out your website and what pages they spent most of there time on- tracking this information will give you invaluable insight into how your customers think, and while this is nothing new, the depth it can go is mind-blowing.

 

3) New expertise for big data: As with any new program or system you will need to find the right talent to who can and analyze the data.Because big data is so intricate and works on a granular level you will need to rely on somebody who specialise in analysis, and because big data is still new these people may be in short supply, so much so that there is prediction that by 2018 the USA alone could have a shortage of around 160 000 people who will know how to make effective decisions. Another aspect you will need to look at is a "super computer" administrator because you will ultimately be dealing with a lot more servers.

 

4) No need for organisation beforehand: The beauty about big data is you collect the data first and worry about how you are going to use it later.

Before big data you had to lay down the requirement for what you were looking for before you had it,which meant that if you wanted to change your mind or look at a holistic historical analysis you were limiting yourself to the information that you were getting.

In effect big data lets you "dump"” all your information first and search for your relevant information after.

 

5) Big data is not only about Hadoop: When people talk about big data, most times they are referring to the Hadoop data analysis platform. “Hadoop is a hot button initiative, with budgets and people being assigned to it,” in many organizations, Kobielus pointed out. Ultimately, however, you may go with other software.

 

You will also need to work very closely with the CMO because big data will give you access to a whole set of new data revealing the ins and outs of your customer, after all this you might be thinking "bloody hell this seems like a lot of extra work" but the truth this if you want to remain competitive in an age when knowledge about your customers is power you will need to utilise as much information as possible.

 

If you want to join the Big data age and learn how you can effectively implement and utilise big data, you need to attend the Big Data conference and exhibition on the 29th-30th October 2013 in Johannesburg, South Africa.

Download the prospectus NOW!

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