As big data continues to spread across industries and regions more quickly than ever before, one of the prevailing themes has been the misuse or lack of understanding among companies that holds them back from achieving optimal returns on investment. Because of how progressive and advanced these technologies have become, business leaders need to recognize the need for skilled individuals integrating, managing and optimizing the tools at all times, as well as the risks of trying to go it alone without the right expertise.
Luckily, organizations have a much wider range of options when it comes to getting these programs under control, namely through the use of managed services that will deliver the power of analytics without causing strain or yielding the threat of improper handling. Business leaders who take a more intelligent approach to the use of big data and analytics technology will inherently enjoy a smoother, more advantageous experience with the technology over time, and this mentality does indeed need to spread soon.
Gartner recently reported that the vast majority of organizations are now either already using big data, or plan to invest in the technology by the end of 2017, but that the rate of firms that struggle to see returns will likely go up in that time unless some major changes take shape. The analysts estimated that more than three-quarters of all companies are going to be using big data within the next two years, and nearly two-thirds of that group will be doing so to improve customer engagement.
However, even with these stalwart plans to adopt and expand upon big data utilization in the coming years, a large portion of the survey group were not sure if they would be able to capitalize on the investments, with 43 percent of forthcoming adopters and 38 percent of current users struggling in this way. This should not necessarily be surprising given how new the technology is to virtually every organization.
“This year begins the shift of big data away from a topic unto itself, and toward standard practices,” Nick Heudecker, research director at Gartner, explained. “The topics that formerly defined big data, such as massive data volumes, disparate data sources and new technologies are becoming familiar as big data solutions become mainstream. For example, among companies that have invested in big data technology, 70 percent are analyzing or planning to analyze location data, and 64 percent are analyzing or planning to analyze free-form text.”
A better tomorrow
Firms that do not know how to handle data preparation and other core frontend responsibilities within data analytics programs will need to find support as soon as possible, and can even begin to leverage self service options for these needs. Full service analytics solutions that cover the entirety of lifecycle management can go a long way toward protecting investments from low returns, all the while yielding more profitable results in a shorter period of time when compared to improperly handling these strategies.