Ever wonder why the technology field is buzzing with the term “big data?” Many sources would tell you that the capabilities of data management and analytic technology can produce greater decision support abilities, business intelligence and higher revenues. Which is for the most part true. But for vendors, big data is boiling down to big bucks.
With the growth of web and transactional technology in recent years, companies are stockpiling data at an exponential rate without a vague clue of how to use it. Vendors are seeing an opportunity to create programs and platforms to analyze and report on this data, and companies are buying in. The catch? It’s not cheap. It’s so expensive in fact, that many companies are left wondering if the business intelligence received in return is worth the hefty price tag.
I’m wondering if a simple cost-saving solution may be found within the business itself. If management was more thorough in deciding what information needs stored and what does not, it would, in many cases, alleviate the need for a huge data warehouse and the expensive analytic technology that goes along with trying to unravel it.
Just a thought.
