WHAT ARE THE KEY CHARACTERISTICS OF COMPANIES WHO SUCCESSFULLY

IMPLEMENTED A BIG DATA STRATEGY?

INTRODUCTION

Nowadays Small and Medium sized Enterprises can easily collect terabytes of data per day

Online organisations can even generate petabytes of data per day without any problem.

INFORMATION CENTRIC CULTURE

• Companies with a successful Big Data strategy have an information-centric culture where all employees are fully aware of the possibilities of well-analysed and visualized information.

A good example is US Xpress, where all truckers have all information needed at their fingertips via iPads while on the road.

A DRIVER FOR INNOVATION AND STAY AHEAD OF THE

PACK

• Big data allows organisations to stay ahead of the competition and to constantly re-invent themself.

• They are innovators and early adopters concerning new technologies

• Their drive for innovation caused them to implement a Big Data strategy already some time ago.

CENTRALIZED DATA STORAGE FRENZY

• Big data is all about massive amounts of data, millions of gigabytes per day or even more.

• A strong characteristic of Big Data organisations is that they collect data of absolutely everything: social media data, log data, sensory data. So, store now and decide later if you need it. • You can always decide to leave out data in your analysis but you cannot analyse data you don’t have.

DATA-DRIVEN PRODUCTS

• In order to collect data, ensure that all products that you offer are able to collect data.

• For online products it is easy to obtain this, but more and more offline products can collect massive amounts of data as well.

• Rolls Roys engines collect 100s of gigabytes during flights and TomTom receives around 5.5 billion datasets per day from its navigations used around the world.

DATA SCIENTISTS ON THE PAYROLL

• Analysing data is a difficult task with terabytes of different types of data, although many Big Data start-ups claim that their product does not require an expensive IT department (Big Data scientist are expensive).

• A well-trained data scientist can help you figuring out the right questions you need to ask in order to get the right answers to take advantage of all the data available.

DON’T WAIT, START NOW

• McKinsey expects that by 2018 there will be a shortage of 140,000 – 190,000 data scientists and 1,500,000 data managers, in America alone.

• Start collecting massive amounts of data and store it centralized with Hadoop, hire or train your data scientists.

Thank You!

Source : https://datafloq.com/read/key-characteristics-companies-big-data/227

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