Analytics

7 golden rules to adopt while embracing a Big Data project

08th Sep `14, 01:38 PM in Analytics

It seems every organisation has either jumped or is seriously contemplating jumping onto the Big Data bandwagon. In…

BDMS
Guest Contributor
 

It seems every organisation has either jumped or is seriously contemplating jumping onto the Big Data bandwagon. In an industry where the hype is often followed by the despair, I feel somewhat ashamed that the IT Industry that I work in pushes the barrow often before the horse. As a result, organisations get hyped up around the advantages and the outcomes of the technology without putting in place the safeguards to ensure project success. Often when I talk to my customers about Big Data, I like to ask some basic questions to ensure that whatever we deliver is achievable and is not going to be just another piece of technology sitting on the shelf.

A survey by Infochimps.com asked IT professionals what are the challenges in a Big Data project and it delivered some interesting yet not to be unexpected results:

The following are some basic rules we should all be adopting if we are to embrace a Big Data Project:

1. Don’t start a Big Data project without understanding the value- In my previous blog I talked about the complexities of putting a value on data from an asset point of view. But it should go without saying that when you go up to your CFO with cap in hand to kick start a Big Data Project, you should know exactly how to demonstrate a Return on Investment (ROI). Not only do you need to know intimately the ROI of your project, but be able to discuss in detail the benefits such as increased revenue. But don’t just say that revenue will increase by x%. You need to weave the benefits and tie them back to functionality. For example “The big data project will allow us to better understand our customers through the use of sentiment analytics. The results of which will allow us to respond quicker to customer’s needs resulting increased revenue”.

Read More
MORE FROM BIG DATA MADE SIMPLE