By this point, it's no secret that big data is expected to be a game changer for many businesses. However, before they make enormous investments to capitalize on the vast amounts of information they can harvest from social media posts, data collected at point-of-sale terminals and product inventory numbers, companies need to establish their goals and get plans in order.
If companies don't err on the side of caution, they can end up with a big pile of unstructured and structured data that leaves their IT teams angry and their analysts still searching for that needle in the haystack. Businesses may not even know how much a big data initiative will cost until they know what type of information they need to achieve their goals, and what kind of data quality
that will require, according to Fierce CIO.
Despite results from recent surveys that show the majority of companies are racing to the big data finish line in hopes of gaining a competitive edge, Research Magazine reports that even the biggest brands are still dipping their toes in the water. Ford Motor Company and Coca-Cola Company have hired data specialists to help them get the most out of this mass of information.