Page 24 - Moore Blatch Business Magazine edition 2

FEATURE

DATA ANALYTICS

AND HOW BUSINESSES CAN RUN

SUCCESSFUL BIG DATA PROJECTS

Big data analytics examines large amounts of GETTING V AL UE FROM
data to uncover hidden patterns, correlations BIG D A T A ANAL YTICS
and other insights for businesses. It is a term Many organisations now understand that by utilising data they can
for data sets that are so large or complex apply analytics and get significant value from it. It is not a new concept
but the opportunities created in the digital era provide greater insights
that traditional data processing application that previous generations understandably could not begin to match.
software is inadequate to deal with them. It includes areas such as storage, analysis, data curation, search,
sharing, transfer, updating and information privacy.

In today’s technological world, data can be microscopically analysed As well as providing tremendous revelations, big data analytics also
instantly, allowing organisations to get vital feedback and make better offers two other key advantages - speed and efficiency, which gives
decisions. They key thing, though, is what to do with the data. businesses a competitive edge they didn’t have before.

In this article, Hugh Cox, Chief Data Officer at pioneering software THE USE OF CL OUD TECHNOL OGIES
company Rosslyn Data Technologies, and recognised as one of the The average cost of a big data project is expected to rise to $6 million
UK’s leading data experts by Information Age, reveals insights on the over the next two years as companies invest more in hardware,
subject of data analytics. He believes businesses can now quickly plan software and training, according to a survey conducted by Dell.
and run successful big data projects that deliver immediate value. Great for vendors, but not so for companies who want to exploit
the value in the explosion of data.

What Dell’s research is actually telling us, is that far too few
organisations realise what they can achieve with today’s cutting-edge
technologies and agile delivery models such as cloud computing.

BIG D A T A TIPS

1 Use cutting-edge cloud technologies provides a faster
and less expensive way for business and technology
leaders to plan, test and run big data initiatives
2 Understand the technology and context it is being used
and that it is not a miracle cure to all business problems
3 Use big data and AI alongside human intervention
4 Take a step back to understand and articulate what you
are trying to achieve and create a strategy around this
5 Use a variety of technologies and be prepared to try and fail
6 Use common sense and don’t assume it has all the answers

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