As companies launch into plans for harnessing big data, there are a number of key steps they will need to take in order for their investments to pay off. These include first developing a detailed plan and understanding their goals for the strategy, then implementing the necessary organization and ensuring all moving pieces are working together.
A new study by Paul Barth and Randy Bean, managing partners of NewVantage Partners, suggests many companies undertaking big data plans are not sticking to this structure despite the fact that 85 percent of organizations have either already launched one, or plan to in the future, as reported by Harvard Business Review. However, they may not actually be setting themselves up for success, according to a recent CompTIA survey.
"Basic work needs to be done before many companies are ready for a big data initiative," said Tim Herbert, vice president of research at CompTIA. "Many companies are still struggling with analytics, storage, backup and business continuity."
For instance, the study found that approximately 75 percent of companies still have data silos that are preventing teams across the company from accessing important information. Perhaps more importantly, they do not have backup plans in case their data quality