As organisations adopt new applications and approaches to cater to non-traditional touchpoints, they are faced with an explosion of data.
It’s but natural for organisations to get overwhelmed by the large volumes of data generated daily (sometimes every few seconds) from a multitude of sources such as social networking sites, internal employee communication, and other organisational resources including sensors among others.
With this data mix comprising both structured and unstructured pieces of information, the big question for organisations is – How to make sense of, and capitalise Big Data?
Greyhound Research analyst interactions with Chief Information Officers (CIOs) and other IT Decision Makers reveal that to serve a growing customer base and better manage the client experience across all customer touchpoints, organisations are moving away from siloed transaction-oriented systems – such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Dealer Management Systems – to more integrated and socially-aware systems. As a result, organisations need to manage the surge in type and overall volume of data, while simultaneously being able to analyse a large amount of complex data in real- time.
This signifies the need for traditional Business Intelligence (BI) approaches to supplement Big Data approaches.
The increase in data volumes poses a new set of challenges around information management and architecture, which also necessitates a shift in strategy. Traditionally, IT-enabled business processes have largely been defined around the structured data streams of process-based apps such as CRM and ERP. But it is critical for organisations to change this to include external sources and to redefine the data acquisition process (sources and types).
There are architectural considerations as well.
To run analytic models for Big Data, organisations must invest in technologies that support Massively Parallel Processing (MPP). It is important for senior IT decision-makers to pick and choose technologies that don’t require them to rip and replace the existing architecture, but complement current investments.
“As organisations explore technologies, it is critical to base decisions on the existing Information Management architecture and identify components that they can reuse and consolidate. Organisations must view Big Data implementation as a business project, not an IT project,” insists Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research.
How Can Organisations Make The Most Of Big Data?
To know more about the challenges which organisations face as they try to make Big Data actionable and discover how organisations can start Big Data initiatives, read our freemium Greyhound Sprint Report titled, Big Data Impacts One And All.
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