2016 was slated to be the year that big data projects finally delivered on the promises of profitability. Yet, 12 months later we’re still sitting on piles and piles of data as big data solutions languish in the corner. In fact, upward of 80 percent of data lakes and data science projects have failed to deliver their expected ROI.
As we start fresh in the new year, businesses must embrace new strategies for finding insights in both unstructured and structured data, otherwise we risk yet another year of big data projects that under deliver.
The hype around big data in the past year obscured the fundamental need for companies to connect to and analyze all data. All data has potential value and all data is needed to ensure a complete view of the trends impacting your company and customers.
Businesses must merge both structured and unstructured data sources that live behind the firewall, outside of the firewall and in the cloud. This includes sources in data warehouse, social media content and application data. It’s not hard to imagine how all these disparate data sources that reside within different realms of responsibility can cause confusion.
Additionally, over the past year IT began pitching data projects over the fence to business analysts.
While the intention of democratizing access to data was good, the approach failed to deliver. To cope with the influx of data requests, businesses equipped business analysts with end-user data prep tools hoping that it would solve problems and accelerate data-driven decisions, but that approach just moved the problem.
When data is handled improperly or with the wrong tools, governance, accuracy and security are sacrificed.
In 2017, let’s continue to strive to get it right. And to do that we should bounce the ball — and the budget — back into IT’s court.
You hear it everywhere: IT and business stakeholders are feeling like they were not consulted during major technology decisions.
Builders of analytic systems or data infrastructures are visionaries. To see your vision come true via adoption, you must address the stakeholders and customers that you are serving.