Everybody knows that Big Data is a big deal. Or do they? In a recent keynote at Silicon Valley’s latest Big Data Show, we unveiled key insights about the maturity of organizations using Big Data. As it turns out, there are 7 key do’s and don’ts to watch out for in this space. Read on to find out more….
Everybody agrees, right?!
Over the past few years, lead analyst research firms have provided various (and sometimes contradictory) views of the state of the Big Data market. In February 2017, Gartner stated that 52% of organizations had no plans to deploy Hadoop, when, a year prior, Forrester had forecasted that 100% of large enterprises would adopt the technology. Finally, a few months ago, IDC forecasted that worldwide revenues for big data and business analytics would reach $150.8 billion in 2017, an increase of 12.4% year-over-year. For context, that’s close to 4 times the growth for the entire IT industry.
If you were to hedge your bets, you’d probably agree that if 2 out of 3 analysts say big data is a big deal, it probably is. Determining how big of a deal big data should be for your company is your decision but consider the following data points: the majority of enterprises spend over $100M to compete with data (NewVantage Partners) and the industries that will experience the fastest growth in spending are banking, healthcare, insurance, securities and investment services, and telecommunications.
Data size is not all that matters...
With all this attention put on how big the space is (or if there was a space to start with), most companies lost sight of what really matters - regardless of the size of your company’s investment, you need to succeed!
Over the last year, we have worked with Thomas Dinsmore, industry pundit and Big Data author, to extract the key determinants of Big Data Success.
His Do’s and Don’ts include best practices like “decouple end user tools and their data platforms”, “leverage open source query engines”, “don’t move data” and many more.
But, rather than list them all here, we thought we'd offer a quick video that recaps them all and that’s easy to share too. If you feel you need more information after the video, download Thomas' whitepaper here!
Analytically Yours and Good Luck!