Big Data is here to stay, which means your organization needs to be capable of processing and effectively utilizing ever-increasing volumes of information. To support this, we have compiled a list of six considerations for your Big Data strategies.
1. Use Big Data structures that support your aims
The idea of “data needs” is an important one that is too often overlooked. There is no such thing as an effective, one-size-fits-all Big Data solution. Instead, the data structure you choose should directly support your unique business aims.
Don’t work with a partner who is not willing to apply a tailored approach to your situation. Just as no two businesses are alike, no two data solutions should be either. Look for the customized option and achieve a solution that integrates directly with your organization’s identity.
2. Embrace IoT or find someone who can embrace it for you
The Internet of Things – or IoT – represents the future of Big Data, and it’s revolutionising many industries on a global scale. By harnessing IoT, businesses are gaining data directly from the source with no distortion or manipulation via intermediaries or third parties. And this data is rich in detail, too. There are now an estimated 23.14 billion IoT-connected devices globally – a figure expected to rise to 62.12 billion by 2024. All of these devices are capable of generating an enormous number of data points.
When it comes to IoT, data management and discernment are just as important as data collection, if not more. There is no shortage of data to be gained from IoT. And this volume is growing by the day as well. The result can be an overwhelming pool of data that organizations are simply not equipped to deal with.
Finding the right partner or data solution provider is critical in this respect. IoT represents an enormous vein of value just waiting to be mined. But it is critical that you can determine which data sources contain this value and which do not.
This is not something you can afford to miss out on. You need to be deploying IoT hardware wherever you can, or to be working with a partner who has the resources and scope you need.
3. Data protection is paramount
Collecting and deploying data is vital to better understanding your customers’ needs. But protecting that data should be viewed as equally important. Theft and fraud regarding corporate data have become such problems in Australia that notifying the Australian Privacy Commissioner, as well as all affected individuals, is now legally mandatory in the country.
In the event of data theft, the ramifications can be huge. Not only will your organization lose significant levels of prestige in the market, but your customers, clients, partners, and anyone else you hold data for will be put at serious risk.
In fact, you are liable to be prosecuted if it is found that you did not take the correct measures to ensure data security and implement precautions on an institutional level.
Make sure that your data protection protocols cover all aspects of your corporate architecture and conduct regular assessments to eliminate any weak points.
4. Increase your network capability
Big Data volumes are not decreasing. Instead, data is coming at us at an increasing speed and from an ever-expanding roster of sources. With this in mind, you need data collection, processing, and storage protocols that can handle this deluge.
Work only with partners that can provide the sorts of high-speed processing and high-level storage you need. It also pays to consider your options going forward. Not only are Big Data volumes growing, but your business is, too. This means that scalability must always be at the forefront of your mind.
Construct a long-term plan for your Big Data strategy and the network architecture that can support forecasted growth. Make sure this plan is capable of providing ongoing support to your organization as it grows.
5. Big Data experience cannot be underestimated
When choosing a data service provider or partner, it pays to go with the more experienced option. This is because Big Data is a highly technical and rapidly evolving field. Simply stated, it is governed by curves of development and trends that simply cannot be learned overnight.
Take this into account when searching for a Big Data solutions provider or when recruiting specialists to work within your team. Examine their track record with a focus on genuine value creation from Big Data. From there, question how these same results can be achieved within your organization and in your field.
6. Be flexible when it comes to storage
Storage represents something of a conundrum for businesses seeking to get the best results from data. This is because storage must be everything at once. It must be ultra secure; it must have the breadth and scope necessary to store ever-increasing volumes of data; and it must be accessible at all times.
This is why a flexible approach to storage is necessary. You need to deploy physical, cloud, and hybrid storage structures together in a combination that suits your data needs. Bringing all this together on your own can be difficult, particularly as your business grows and evolves in the market.
A harmonized approach is necessary – one that will see the different components of your data storage strategy working together and communicating. This can be achieved via the deployment of the right kind of software. But selecting a data solutions provider who can handle this for you is the most cost-effective and reliable approach.
Are you searching for the ideal Big Data solution for your business? Are you keen to find a way to push your organization ahead of its competitors in the market through Big Data and smart analytics? Check out the Digitalist Big Data section for more info.