Big Data: Possibilities and challenges

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At the 2016 edition of Mint’s Enterprise Tech Summit titled ‘Big Data analytics in an IoT world’, experts discuss potential and barriers to widespread IOT-Big Data value delivery.

The panellists included Sanchit Gogia, Chief Analyst and CEO of Greyhound Research.

Do companies understand what Big Data is?

Gogia: If you spoke to clients two years ago, they would say we don’t understand Big Data and would want to pause and see. But now, the response is I understand Big Data, but what I understand of it is the marketing aspect of it, but I don’t understand all the use cases. Possibly, my industry hasn’t had so many use cases. Interestingly, some of the firms have a separate Big Data officer and a separate BI (business intelligence) officer. That is a recipe for disaster. What you are actually getting after is the same data that can be beneficial to your business. There are tonnes of firms that don’t really understand where the starting point is.

What are some of the challenges of using Big Data?

Gogia: The first problem we face is the inability to bring business owners on to the table. CIOs (chief investment officers) and IT leaders struggle in making use cases. Second issue is, where do we start from?

Source: Live Mint


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