The new era of big data has arrived. While that may seem to promise great things, Financial Times recently offered a sobering reminder that companies often lack the decision-making and talent to make use of what information they already have access to. This could be critical in the coming months, as the pressure to adopt unstructured information intensifies and data management becomes more difficult still.
According to Financial Times, firms often do the wrong thing with their data reserves, using automated processes to solve problems that need the touch of human insight and vice versa.
The news provider also explained that there is a lack of big data talent. This extends to both the actual technicians who will handle the information every day and the managers tasked with determining the direction of such efforts. Taking this weakness into account, companies will need to find a way to ensure data quality
and usability stay strong over the long term as volume increases.
Zurich Financial's Simon Kaffel told Marketing Week that the successful construction of a data management department will often involve workers with no previous background in information. He noted that most data management professionals come to the field from other unrelated disciplines.