Everyone has something to say about Big Data. But how can we separate the facts from the myths?
Don't be tricked by these Big Data tales...
1. Lots of Data Means Good Data
With Big Data, quality trumps quantity. More data doesn't mean that you have the right data.
2. Big Data Can Tell You The Future
Big Data can guide you to a more accurate prediction of the future, but it should not be taken at face value; there needs to be a human element involved to process, analyze and find conclusions.
3. Big Data Means Big Costs
Big Data won’t necessarily break the bank. Technologies to store and manage your data are now available at an affordable price.
4. Big Data demands a troupe of data scientists
The main point is that once you've done something once, it can be automated and repeatable. There's no need for a large, expensive team of data scientists.
5. Big Data is an IT Problem
Big Data hardware and software need to be developed by highly skilled technical Big Data employees, but after that, there needs to be a strategy in place that should ideally sit at a board level.
6. Big Data is the same thing as Analytics
Small scale analytics help to highlight patterns over a short period of time, but you need Big Data to create true insights in the long term.
7. Big Data is a Temporary Fad
Despite the explosion of Big Data over the last few years, I think that it is safe to say that Big Data is here to stay.
8. Everyone is ahead of you in Big Data
Don't panic! Although Gartner claim that 73% of firms are investing (or planning to invest) in Big Data, most organizations are still in the early stages of adoption.
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