Unless you’ve been hiding under a rock, you are aware of the hype around Big Data and Predictive Analytics. The potential is mind-blowing, but organizations looking to pursue Big Data must be cautious and consider the enabling pieces that need to be in place in order to be successful. Otherwise, irrational exuberance may well lead to a Big Investment in a Big Disappointment.
Earlier this month, I was interviewed for the Cloud Computing Journal as a survey of IT pundits on the subject of Big Data Predictions for 2013. While many were extolling the virtues of Big Data, I was the proverbial party-pooper. My cautionary tale is repeated here for ease of access and in hopes of facilitating a dialogue on the subject:
- 2013 holds the potential for Big Data and Analytics to either generate real returns for the next wave of adopters or potentially ‘jump the shark’ and be chalked up as yet another hype-fueled collection of promises and ethereal ROI.
- The risks for firms adopting Big Data and implementing Analytical capabilities lies in the fundamental lack of clean and congruent data as a starting point, combined with a general ambiguity surrounding what a given enterprise should be looking for in their proverbial haystack of information.
- Our modern world is so awash in data that organizations will find themselves at a critical juncture in 2013 as they aspire to capture the potential of these emerging disciplines while combating the realities surrounding data management, data stewardship, and effective data analysis. Those firms that are able to overcome these obstacles stand to win in 2013 in a very big way.
- Other significant challenges that organizations will face in 2013 are in the areas of staffing and identification of best practices surrounding the new arsenals of information that are in the hands of the enterprise. There is a considerable shortage of qualified personnel and a relatively large gap in terms of knowledge transfer and skills development capabilities surrounding Information Architecture, Big Data, and Analytics within many organizations.
- Additionally, there is a considerable lack of dialogue surrounding what constitutes best practice in these domains. Selecting an appropriate analytics technique and/or supporting technology toolset for a given problem is a critical decision point that few organizations are currently equipped to make. In short, organizations will need to invest in equipping their team’s toolbox with Information Architecture tools and techniques in order to ensure success with any Big Data or Analytics initiative in 2013.