The big data revolution has taken hold of the global private and public sectors, as evidenced by the immense investments being made to strengthen the intelligence of decision-making in virtually every organization. It has not been an easy or straightforward path by any regard, though, as many companies that have been using the technology for years have yet to truly maximize returns on the relevant investments, and some have not seen any performance improvements at all.
This is not a knock at the technology itself, though, as the tools have indeed become more advanced and intuitive in the past few years, but rather an argument that businesses need to take a more intelligent approach to these processes. For example, data preparation should be a priority, and acquiring the right support to guide the strategies over time is paramount to long-term returns on investment, with those firms relying on inexperienced individuals struggling the most.
Culture is key
CIO Magazine recently reported that while more firms are seemingly understanding the need for culture changes from the outset of a new analytics strategy, the lack of qualified data scientists is holding back firms from achieving this particular goal. Although services are available that allow companies to begin capitalizing on analytics without a fully staffed IT department, this does not mean that the strategies do not need champions who are well-versed in the management demands.
According to the news provider, the reason why more significant culture shifts are needed on an organizational level is because the use of analytics is spreading to newer departments relatively rapidly today. This is a good sign, as the investments can certainly translate to stronger decision-making and thus more progressive operational and financial performances, but those advantages will not be enjoyed unless the business is prepared to leverage these technologies.
The source recommended empowering data scientists on hand, and to put faith into the individuals or, in some situations, the managed service providers who are handling the technical aspects of the big data strategies and solutions therein. Culture will be reliant upon institutional changes and transformations, such as the introduction of training programs and similar educational assets to bring various members of staff up to speed with the best practices of analytics use.
Regardless of which technology a company might be investing in, the need for intelligent management of budget, deployments and processes will always be high. When a company is not entirely comfortable in its own ability to handle these technologies, it should always know when support is needed from external service providers, as this move can help to safeguard investments from poor returns resulting from a lack of proper use.
More robust and advanced services are now available to help companies achieve optimal analytics performance in all departments, and these options are likely to become even more user-friendly in the coming years.