Big data has big potential. But how can your company achieve the highest return on your investment in analytics?
As enterprise data grows exponentially, so do finance executives’ expectations of the value of big data. Data analytics can extrapolate data in countless ways, but investing in analytics tools isn’t enough to help your business succeed. Big data is only useful when focused on a particular outcome, interpreted by intelligent people, and applied to strategic policies.
This CFO eBrief explores why senior finance executives are so excited by the possibilities of big data and how you can combine top technology with employee expertise to capture maximum value. Mastering large data sets can be both expensive and time-consuming, but if your employees know what to do with this data, then your investment will be worth it.
Topics covered in Mastering Big Data include:
- The three V’s of big data: volume, variety, and velocity
- Why big data goes beyond an IT project—it’s a business transformation project.
- The limits of big data: you need savvy and experienced decision-makers to focus and apply analytics.
- The importance of applying big data to small problems with specific outcomes.
- The usefulness of organized and accessible big data.