The Misconceptions About Big Data

Posted by William Miller

Even the name can intimidate and overwhelm people… Big Data. But why is that phrase so scary to businesses and why do so many companies shy away from enhancing their operations with their own data? With Big Data comes Big Responsibility, and many businesses tremble at the sight of reports full of numbers, charts, and graphs. And not only is the sheer volume intimidating alone, but data collected has real and lasting implications. Big Data does not have to be scary and data does not have to be just another four-letter word. Rather, it can provide lasting value to businesses, big and small. Debunking the common misconceptions about Big Data and introducing tools that will help understand your data can catapult your business ahead of the competition.

Isn’t Big Data just for big corporations?

There are many common misconceptions out there regarding Big Data, but the biggest fallacy may be that Big Data can only be used for big businesses. This explains what smaller businesses find intimidating about data – Big Data is hard to understand, data is gathered across too many machines, MapReduce is too complicated, etc.  Smaller businesses believe they lack the resources and “deep pockets” to take on a Big Data initiative. When in reality, the opposite is true; they are the best people for the job. Small businesses are more agile than big corporations, which positions them for quick changes based on the information gathered from Big Data. Understanding and acting on Big Data can stump businesses in their data quest, but it doesn’t have to. Implementing a smart data strategy is one way to understand your customers’ preferences, as well as what you can do to increase loyalty and business. Starting small and providing transparency throughout the business can set data initiatives up for success.

Ready to take on Big Data

When businesses are able to move past the “Fear Factor” of Big Data, they may still struggle to understand what actions to take or how to get started. In this modern age of data, there are tools out there that can help any business successfully take on a data initiative – including Tableau and Alteryx. Tableau is designed to be extremely user friendly. Data analysis is simple and fast, and visualizations are created in the form of dashboards and worksheets. Visualizations created by Tableau allows data to be understood at any level in the business. The program does not require technical or programming skills, and even non-technical users can create customized dashboards. Alteryx can also empower businesses by helping them spend less time preparing data and more time analyzing their results. Alteryx provides advanced tools that are designed to minimize the effort and maximize the results, while also simplifying the process of accessing and blending data. Alteryx also supports scalability, which is key for small businesses looking to use data for growth analysis.

Allow data to fuel your organization

Data no longer has to scare businesses, big and small alike. Data is out there, and it doesn’t have to be intimidating to uncover and utilize. Understanding what your data is telling your business can open the door to endless possibilities. A smart data strategy with complete transparency and the right tools can set your business up for success in the world today with new data around every corner. Intimidation is not a permanent state of mind. So instead, allow it to fuel your efforts to bring your business on its way to actionable and tangible growth.

Accelerate your ROI with Aimpoint Digital

Aimpoint Digital’s foundation is a team of best-in-class data scientists, data engineers, management consultants, and industry experts who work together with our clients to accelerate strategic vision through data and analytics. Whether it be defining a vision and strategy or executing on tactical use cases, Aimpoint Digital helps you take an idea from thought through execution. This collaborative journey will enable you to get the most out of your data and technology investments. Contact us to begin your acceleration process.

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