Without a doubt, one of the biggest trends in the world today is big data. The process of gathering data from different sources to identify usage patterns, new business opportunities, potential issues, and different ways to do things is quickly becoming common practice across several industries. It’s easy to see why – with the proper process in place, big data science can provide a competitive edge for any company.
Of course, with mobile and cloud computing traffic on the rise as well as the popularization of technologies such as artificial intelligence (AI) and the Internet of Things (IoT), data availability has skyrocketed. This also means that data complexity has increased, so making sense of it is more challenging than ever. It’s no surprise, then, to see more and more companies teaming up with nearshore development services to come up with their own big data solutions.
With a global big data analytics market expected to grow to 274 billion U.S. dollars in 2022, you can confirm your suspicions that big data is huge and it’s here to stay. What you might not know is how to get on board and get your company the advantages this technology is promising. Here are some tips to help you with that.
1 – Be sure to hire the right people
As with any new trend, there’s a lot of people out there making wild claims and calling themselves experts on the subject. However, you have to pay attention to get the help of true professionals that can assist you to understand the big data phenomenon as a whole and how it can benefit your company in particular.
This is true whether you’re hiring a data scientist or using nearshore software development to create a platform for big data analytics. Gathering large data sets is the first step towards that competitive edge but without the proper people that can make sense out of them, it’ll be all for nothing. Data scientists are among the most required roles today, so you’ll be in for some competition, but investing in the right people to help you with big data is the only way you’ll take a step forward.
2 – Keep your eyes on the data that matters
The sheer amount of data you can get today can be insurmountable. You can put your hands on everything, from client demographics and purchasing history to employees’ performance. It’s tempting to collect all of that to later have it analyzed through customized software but, ultimately, you have to ask yourself what are you gaining by going down that route.
Basically, you should stick with the metrics and data that actually matters and discard the rest. Having an overall strategy and goals can define where you can take the data and its analysis. If you’re seeking to improve your customer experience, then, by all means, collect information about the whole process with the client and leave out anything that isn’t related or that doesn’t contribute to those purposes.
3 – Socialize the data
One of the biggest mistakes executives tend to make is keeping the data they gather for themselves. Historically, this has been due to a need to “protect the company’s interest.” Doing that in the big data era, however, can be counterproductive, as keeping the information reserved to a few sets of eyes can make your company miss important opportunities by analyzing it.
The suggestion is, then, to share the data sets you gather with the right people within your company. Everyone from the CEO and the data scientists to the marketing people and the middle management should be synchronized with the data sets and provide their unique points of view about what they find there. This can lead to organization-level improvements rather than keep them compartmentalized.
And in case you’re still worried about data privacy, you can ask your nearshore development services provider to create different access levels for your big data analysis solution. That way, you can assign who gets what, combining the best of both worlds: everyone’s opinion on the data that’s being gathered and the control over more sensitive information for the company.
4 – Make the most out of available technology
Since Big Data is so, well, big today, there’s a lot of solutions, platforms, and tools that can help you right out of the gate, even if you are part of a small business or a startup. There are several cloud-based SaaS alternatives to process, store and visualize all kinds of data through very manageable environments. Using them can give you an important advantage when just entering the big data world, as you won’t have to worry about the implementation as you start grasping how it all works.
Later on, you could work with a nearshore software outsourcing company to create your own tailor-made solution. This could be done on a later stage as you’ll be able to understand big data more precisely and what it can give to your particular position in the industry.
5 – Be open to changes
Big data is a huge game-changer for any company, regardless of its size, history, and culture. That’s because new data sets can contend with ingrained perceptions, operations, and values of the company itself. By trusting the data and uncovering what’s lying under the surface, your assumptions on how your business and how your industry works might be challenged and refuted. In that context, keeping an open mind is key to leveraging the opportunities brought by big data.
In fact, the introduction of big data in a company that hasn’t worked with it before can be a traumatic event. That’s because there has to be a company-wide commitment to the results big data can provide, whatever they may be. Such commitment has to be born from the top, with executives being the first to show it. But for it to be truly fruitful, it has to trickle down to the whole business staff, that should also be willing to change the way a business works in the light of the data-driven findings.
To sum it all up
Big data is a very promising technology that can radically change the face of your business – if you let it. If you haven’t worked with it, then you have to learn how to control it. For that to happen, you have to rely on the help of professionals that can aid you in its introduction within your company. That process implies the use of new big data tools, the definition of valuable metrics, the communication of findings, and the procedures needed to implement the changes.
Ultimately, it’ll be up to you if big data ends up being a time-consuming task where you only gather information for information’s sake or if you find the competitive edge it can give you.
