Although big data is quickly becoming an IT priority across the private sector, there continues to be a number of misconceptions surrounding the movement. In many cases, decision-makers believe embracing the big data mentality will instantly yield positive results. Unfortunately, this isn't necessarily the case.
A report by MediaPost Communications said big data is not a magical one-and-done phenomenon, as executives still need to have the right priorities, policies and strategies in place if they are to experience any benefits from capturing, analyzing and using massive volumes of information. If managers do not emphasize the importance of data quality, for example, companies will likely develop inconsistencies and other problems that will impair operations.
Big data is also a mentality, not just a technology. Rather than immediately rooting for the complete IT overhaul, executives should look at the resources in their possession and consider how they can use existing data. This was highlighted in another report by Inc Magazine, which said starting small is critical to the success of any big project.
As big data continues to pick up speed, decision-makers need to take a step back and map out the most efficient route to utilize information in everyday operations. If executives jump headfirst without first understanding the phenomenon, they will likely encounter a number of difficulties.