There are many trends currently underway in the business intelligence world, but perhaps none have the same cachet as big data. The use of enormous data sets through new and powerful analytics algorithms is a pioneering effort, turning the eye of BI toward reserves of data that were previously off-limits due to their intimidating scale or remarkable speed. The combination of long-held BI objectives with the latest tech developments is allowing some organizations to make better decisions. With this functionality available throughout corporate structures, leaders can chart new courses with confidence, safe in the knowledge the data bears out their interpretations of the situation.
Not too late
Some executives may look on in horror as media sources trumpet the joys of big data, believing they have missed the boat. However, according to Information Management, this is a myth. The news source pointed to a Gartner study that demonstrated that yes, many organizations are interested in implementing big data analytics within their structures, but most of them have not yet completed the exploratory stages of their operations. With many of these firms still trying to match up technology with intentions, there is plenty of room for new entrants into the market to challenge them and become equal or better in usage.
The key connection to make, the source claimed, is to think of a solid purpose for big data. Organizations that don't know what they want to do may end up with a half-implemented approach to analytics and nothing to show for it. Late entrants to the field with a greater sense of purpose could pass their rivals and take the leading position. When there are rushes into new tech areas, it's indeed important not to wait too long to use the processes. However, implementing them incorrectly is no help. Being focused and having the right priorities is just as vital as committing resources early.
Signing on with the right partners
Once leaders realize they have use cases for big data, it's important for them to find an analytics vendor that can make the connection between their resources and objectives. Some vendors offer processes that can make use of both large data sets and the types of resources they have been mining for years. Panorama Necto 14 is one example of such a product, combining a vast scope of possible content inputs with the ability to tailor insight output to the many different roles that may profit from access to BI, from management to sales.