Ask anyone the top challenges for a big data project and you’ll hear a response so common it’s beginning to border on cliché: volume, velocity, variety. The three V’s have become virtually synonymous with big data and it seems that everyone from the CEO down is focusing the strategy on them alone. While legitimate challenges, the long term, strategic value of big data will not be delivered from these first three V’s. There are three other V’s that will make the difference between success and failure.
Much like eCommerce changed the fundamentals of business forever, Information Leaders must drive change by prioritizing big data in an entirely new way. Volume, variety and velocity are legitimate concerns, but they primarily address the needs of architects and developers. But big data promises more than just IT efficiency and cost savings -it’s a path to greater insight and competitive advantage. So shouldn’t you focus on its business worthiness rather than its technical characteristics?
Big Data will fail to gain business interest, prioritization and real momentum if these next three “V’s” are not properly accounted for and embedded in any Big Data strategy (no matter the use case):
Achieve success with your big data initiative by throwing conventional wisdom out the window and looking at it in a whole new light. Then, take a proven approach to big data to ensure you drive real business value and position yourself at the center of your organization’s next strategic business transformation. Read this white paper from Informatica’s Big Data expert John Haddad titled "The Safe On-Ramp to Big Data".
Business analysts are under-utilized, and it may be your fault. The most effective analysts work across the business. Before investing in high-priced data scientists, charge up your business analysts to unleash information potential.
The term data governance can alienate business executives with implications of bureaucracy and inertia. Information management professionals should avoid discussing data governance, and instead quantify the negative impacts of unmanaged data.
How far has your infrastructure moved into the cloud and what does it mean for your data policies and processes?
Informatica helped Fannie Mae ensure clean and correct data is collected and integrated from 100+ data sources