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Big data strategies present both opportunities and challenges

Paul Newman Archive

Big data analytics strategies are no longer limited to IT companies, according to Mashable. Thanks to cloud technology and emerging customer data streams,  business intelligence tactics are now being adopted by unlikely players such as supermarket chains, department stores and nonprofit organizations. However, all big data adopters must remember that along with the huge potential come risks with data quality, security and confidentiality breaches.

New data is being generated to the tune of quintillions of bytes every day, as consumers browse websites, makes purchases and enter their information to participate in sweepstakes and receive special content. This can provide data users with advanced insights into customers behaviors, but can also create more opportunities for security risks, the source adds.

As companies harness more information, they also need to increase their vigilance where data quality is concerned. The addition of new content may force firms to adopt new data platforms and relinquish their reliable spreadsheets, according to a post in the Data Roundtable Blog. Switching to a centralized reporting system can reveal issues and present opportunities for improvement. The source suggests implementing quality assurance checks before data or reports are passed along as a company-wide standard.