Big data is massive and messy, and it’s coming at you fast. These characteristics pose a problem for data storage and processing, but focusing on these factors has resulted in a lot navel-gazing and an unnecessary emphasis on technology.
The potential of Big Data is in its ability to solve business problems and provide new business opportunities. So to get the most from your Big Data investments, focus on the questions you’d love to answer for your business. This simple shift can transform your perspective, changing big data from a technological problem to a business solution.
- What would you really like to know about your business?
- Why are our customers leaving us?
- What is the value of a ‘tweet’ or a ‘like’?
- What products are our customers most likely to buy?
- What is the best way to communicate with our customers?
- Are our investments in customer service paying off?
- What is the optimal price for my product right now?
The value of data is only realized through insight. And insight is useless until it’s turned into action. To strike upon insight, you first need to know where to dig. Finding the right questions will lead you to the well.