BEST PRACTICES IN DATA MANAGEMENT IN THE ERA OF BIG DATA

The rise of big data is challenging many long-held assumptions about the way data is organised, managed, ingested, and digested. However, for many organisations, big data is still a new frontier that they have only begun to explore. “Many organisations leave their data to pile up; they are aware of it as a resource but haven’t analysed it,” says Kord Campbell, CEO of Loggly. “They don’t know what’s useful and what’s worthless.”

 

The ability to extract insights from big data represents opportunities for real business returns. “The importance of big data is far more consequential than the softer image of better decision making,” Antonio Piraino, CTO of ScienceLogic, tells DBTA. “We are already seeing the advent of policy-driven automated interactions taking place between financial organisations for things like futures trading. Even the Federal sector is getting in on the act with analytics driving executions of policy in order to mitigate possible noncompliance.” The clues “that lie in big data can be the key to an enterprise’s future success—offering insights to optimize supply chains, uncover consumer behavior patterns, identify traffic and energy patterns,” Anjul Bhambhri, vice president of Big Data Products at IBM, agrees. “Rather than be a burden, all of this new-found knowledge enables businesses to make effective long-term and real-time business decisions.”

 

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