May 10th, 2014 by Chance
Big Data Week 2014 has generated a lot of excitement around new technologies, experimental techniques and new companies sprouting up in this space. In recent media, some onlookers have expressed a contrarian view about Big Data, suggesting that it is all hype and buzzwords and discounting the value it can bring to businesses. We would say that Big Data is an opportunity that every company will need to address sooner rather than later.
It is my job to talk to people about how they can benefit from introducing high-performance tools to their processes or offerings. I have seen Big Data downplayed as a need that only “bleeding-edge” technology companies have, and its value as a capacity-building catalyst dismissed. Instead of coming up with a plan to leverage Big Data, some businesses and C-suite executives hold on to a misperception that it is marketing fluff rather than a business need that will only grow over time.
Blacklight Solutions is out in the market executing on real deployments for real clients. We have worked with companies to implement Big Data analytics and introduce successful new lines of business, make critical system performance upgrades, protect revenue through decisioning applications and increase sales by including advanced analytics reporting.
I can confidently say that Big Data should be a real concern for companies of every size, as we look at the dramatic expansion of data that businesses collect, manage, analyze and leverage. The exposure I have had to the wide variety of companies Blacklight Solutions works with, has convinced me that if you are not addressing data needs now you will get behind the curve very quickly. Once you fall behind, there will be a much more painful transition down the road when urgency comes knocking on your door.
This does not mean that you need to run out and hire 15 people in white lab coats and clipboards to “do Big Data.” The trick is to build a long-term strategy to address the problem incrementally with lightweight, existing and proven technology.
The most successful companies don’t just think about how to store all the data they collect and process, they think about how to analyze and leverage that data to make it meaningful. There is enormous potential for businesses in gleaning valuable insights from data that they already own. Big Data is here; it’s not coming, it’s not right around the corner, it’s here.