February 21, 2014 - FILED UNDER Agile Business
4 Steps to Big Data Success [INFOGRAPHIC]
Even if your organization isn’t all that big, the amount of data needed to be successful in today’s constantly fluctuating marketplace is. And if you don’t have the resources to collect and analyze the vast amount of consumer info you need, it can get extremely overwhelming.
The Science of it All
Says data scientist Lisa Purvis:
“The big data movement has touched every industry and domain. The world is a sea of information, continuing to grow at an astounding rate — in fact, IDC forecasts a 44-fold increase in data volumes between 2009 and 2020. Analyzing and synthesizing insights from this data, both structured and unstructured, leads to better decision-making, greater operational efficiencies, cost reductions, and growth via new business opportunities. The same is true in the domain of innovation — fully understanding and extracting actionable insights from your innovation program enables adjustments, and ultimately, greater outcomes.”
One Small Step
For many companies, it’s getting started that’s the issue — when presented with such an onslaught of information, it’s extremely difficult to know where to spend time in order to extract the most value. But as with most things, getting somewhere just takes making that first leap, even if it’s a small one. This infographic from IBM details the 4 key steps you need to take to get started on your Big Data journey.Related