Arthur Conan Doyle – “It is a capital mistake to theorize before one has data”
That’s right, Big Data does not make you money. Hopefully after this article you will be like this impressive guy above, pulling money out of a Data Analytics application on his computer…
As my avid followers will recall, in a previous blog post I explained why I specialise in Data Analytics. The key reason for me is due to the fact that data is mounting at an unfathomable rate and there is currently, and certainly in the future, a great demand for professionals who can make sense of it all. Anyway, back to this later.
The part that doesn’t make you money, that doesn’t provide you with the much valued insight your company needs is simply gathering it. You can stream your multi-channelled data to your Enterprise Data Warehouse, but what are you doing with it when you’ve created millions lines of data within various data sets?
What you need is actionable data and a Big Data strategy. You need to start turning oceans of data into puddles of insight. This is what makes you money. This is how to create a contemporary business plan.
This strategy needs to start with understanding that you need to build a Data Analytics function including such people as Data Warehouse Developers, Data Scientists, BI Analysts and Insight Analysts. These will be the superheroes of the modern age!
Gather your data and sift through it to get ahead of the game. You can either see it as a daunting task, or the biggest game changer to your business.