Don’t Fall For These Big Data Analytics Myths and Misconceptions
What do you know big data analytics? How much of it is fact? How much is fiction? Okay, fiction may be a stretch, but there is still a lot about this trend that is misunderstood. Ignorance is anything but bliss when it causes you to miss out on golden opportunities. These are a few of the myths and misconceptions preventing practitioners just like you from maximizing the value of big data.
Big Data is Easily Defined
You’ll find definitions for big data analytics nestled within the pages of your internet dictionaries, but they tend to vary significantly from one entry to the next. Experts only add to the confusion with their scientific opinions and revelations. The fact of the matter is that big data is so vast and wildly diverse that it can’t be confined to a single definition.
Big Data is the “Next Big Thing”
Big data is only a novelty sensation by name. The technique that was once referred to as data mining has roots that stem long before the modern internet era. However, the technology used to process, analyze, and manage data is continually emerging. In that sense, big data is a book that is still being written.
All Data is Good Data
Seemingly trivial data can be immensely valuable. At the same time, some of if will be irrelevant no matter how finely you slice and dice it. Holding on to meaningless data serves no point other than raising your storage expenses and making life more complicated for administrators.
Data Scientists are a Must
Data scientists are generally viewed as the professionals who are best suited to handle big data deployments. Unfortunately, experts tell us that since this field is still relatively new, there aren’t enough to go around. Be that as is it may, having a certified data scientist on your staff is not necessarily required to succeed. Armed with the right tools and knowledge, a team of data analysts and database administrators may be all you need.
Big Data Takes Big Money
Funding a big data project can make for quite the investment. However, you don’t always have to break the bank to take advantage of the insights it has to offer. Thanks to the open source community, many data management tools are either free or very inexpensive. By playing the game of mix and match, it’s possible to piece together a cost effective solution that works for your individual situation.
Big Data is Organized
The goal may be to keep your data optimized and organized, but in many cases, it starts out a mess. Most infrastructures are a mix of structured and unstructured information, some of it downright filthy and in need of a good scrubbing. Reaching the streamlined output that allows you to act on meaningful insights often takes both automated and manual cleansing.
Big Data is Made for Corporations
Here we have what is arguably the biggest misconception at all. A small business may face many of the same issues faced by a Fortune 500 company. The only difference is that those issues are relative to their respective sizes. Although bigger companies generally have more volume on their hands, big data analytics can benefit organizations of any size.
Big Data is an IT Thing
IT plays an integral role in a big data deployment. With that said, if you go into it building the bulk of your efforts around IT, you could be in for a rude awakening. Using analytics effectively requires a fair amount of business savvy, so no matter how slick the technology is, success hinges on human intervention. In many cases, IT, marketing, and executive level players must all put their heads together for the greater good of the team.
Big Data Will Solve All Your Problems
Technically, big data can be the solution to whatever data-related problems you may be facing. That doesn’t necessarily mean it will zap those problems into thin air. After adopting high-end analytics solutions, some organizations still have more questions than answers. Even with all the rght tools at their disposal, they lack they the insights they set out to discover.
Big Data Analytics is All Hype
The bottom might fall out one day, but it probably won’t drop any time soon. According to Technology Business Review, big data analytics accounted for 47 percent of the growth experienced by the top 50 public cloud computing companies. This market, recently found to have a quarterly value of roughly $15 billion, is more evidence of a trend that’s here to stick around.