Business intelligence solutions have progressed to a point of extreme usability and accessibility in the past few years, but this does not mean that expertise is no longer needed when going through the various processes contained therein. Rather, companies need to ensure that they are getting the fine print right with respect to analytics utilization, especially during the earlier stages of projects which tend to be the most commonly overlooked.
Data preparation and other procedures must be consistent and handled by professionals, although more options are sprouting up that enable a comprehensively self-service functionality upon deployment. Another matter that appears to be giving many businesses headaches – and setting back the revenue-driving potential of big data – is mining and archive management, which must be on point to instill the most amount of power into the analytics programs.
Mining for gold
BetaNews recently reported that some companies surveyed by International Data Corporation in a new study cited seeing $6.7 million in revenue growth following the deployment of big data platforms, and reduced operating and capital expenditures in the process. This is, after all, the type of outcome that many have come to expect from powerful big data solutions, but it does not mean that everyone gets it right.
Rather, a wealth of firms have not started to accurately target the right archives, and some have not done so at all. According to the source, it is somewhat surprising that three-quarters of respondents do think that they have maximized the value and functionality of their big data programs, while only a little more than one-third are actually using archives within the strategies. Simply put, there is no way that a firm's analytics strategy can function perfectly when no archives are being used.
About one-quarter of the participants did state that they should be using the archives a bit more advantageously, and BetaNews pointed out that simple steps toward success such a optimizing archiving strategies with the help of a professional service provider can a long way to achieving these goals. The big take away here is that firms can certainly generate a wealth of cost savings and revenue earnings through the use of big data, but only when the analytics strategy is comprehensively optimized from beginning to end.
"MSPs should be tapped for support."
MSPs can help
Managed service providers should always be tapped for support and assistance when the firm is not entirely confident in its ability to accurately and efficiently navigate the complex tasks involved in analytics. Remember, data preparation, archive management, source targeting and so many other intricacies exist in these initiatives, and failure to touch upon every relevant requirement can be the first steps toward missed opportunities.
On the flip side, understanding the value of leveraging expertise provided by an external service vendor can expedite deployments and speed up the time it takes to begin enjoying high returns on investment.