Solutions for Managing Big Data

Third, organizations rely on data and analytics that’s anemic, especially in marketing. Over-reliance on vanity metrics and descriptive data handicap managers trying to improve their ROI with better insights.

Solution: Use predictive analytics (and prescriptive analytics) to guide decision-making and allocate resources. Algorithms rule the day. Build advanced analytics into the DNA of the firm.

Fourth, organizations fear automating activities might be inaccurate.

Solution: face it, machines are better at managing data than humans and make far fewer mistakes. For instance, the US government decided to slow down development of a self-driving car after one had an accident. Humans have accidents everyday and auto accidents are a leading cause of death in young people. Maybe they’re not perfect, but machines outdo humans when it comes to performing routine calculations.

managing digital data
Firms need to focus on hiring translators — people trained in analytics and business processes, for example.

Next, they need to overcome the organizational Administration Directors Email Lists and cultural obstacles to using big data insights.

Administration Directors Email Lists

Make insights easier to understand and act upon, according to an IBM study that found this was a major deterrent to using big data. User interfaces for most tools are awkward and require a huge commitment to understand how to set up a problem. For instance, SQL has its own arcane language. When SPSS and SAS translated their languages through a series of drop-down menus, analytics became more accessible and understandable. SQL and other tools need to take a lesson.

Start by asking questions to solve

business problems rather than seeing what the data can tell you. Instead of building insights, firms are too busy chasing their tails in data management and cleaning.

People are visual and looking at tables of numbers is mind-numbing. Instead, transform data into visual representations that ease analysis. Pie charts, line graphs, and other visualizations democratize analytics and speed insights, according to IBM.

Leave a comment

Your email address will not be published.