On March 28th, 2014; Google Flu Trend – a prime example of the powerful use of Big Data system – went terminated. The event has become a wakeup call for many businesses: Big Data is not a magical analytic tool that would solve all your problems. Instead, it has both advantages and disadvantages.
- Read more: Big Data trend 2017
The use of Big Data system in business need to be taken into consideration to achieve successes and limit risks. Therefore, it is very important for entrepreneurs to be objective and to hold the initiative while adopt big data. Big Data – whether a nightmare or a daydream – is totally up to you. Here is the list of 6 questions we suggest you should answer when applying Big Data to make it become the best daydream ever.
1. What do I actually need?
In any case, clearly identifying your need before doing something is probably the most important. It would determine what you have to do and how to do it. “You have to start with a question and not with the data” – said Andreas Weigend, former Chief Scientist of Amazon, now director of Social Data Lab and lecturer at UC Berkley.
- Read more: How big is big data
There are many entrepreneurs have fallen into the trap of using Big Data instantly before actually figure out their problems According to Bernard Marr – a big data analytics and enterprise performance consultant, – the lack of a clear business objective is the reason for many failures of Big Data projects in the world. A clear goal will help you identify problems quickly and give you guidance whenever you’re stuck in the process.
2. Which data should I collect?
To find the right information is like getting the right resources for your business. Many people thought the more money you put in, the more profitable your business becomes, but it’s not entirely true. The relevant amount of capital, and an appropriate number of quality labor could also make a huge difference.
The same case applies to finding data. Without being critical of information search, companies would “get buried under the humongous amount of information they generate through various outlets” – said the XMG analyst, Jacky Garrido in a recent ZDNet Asia interview. Instead of looking for as much information as possible, we should carefully analyze which kind of data we need then find the suitable amount of information for it. To have the right information in the right amount would make decision making much easier and more precise.
3. Which analytic tools should I use?
There is a scenario that many people are so impressed with the power of Big Data system and its ability to handle information that they thought it can replace any other of their old analytics system. However. As being above mentioned, Big Data system also has its drawbacks. This analytics system is said to only describe a world in the past because it makes predictions only on the basis of the previous data.
Hence, we should wisely maintain the current analytic system while develop Big Data system alongside. This approach is not only less risky and cost-saving, but also gives you a chance to analyze information in various aspects in various tools.
4. How should my data be governed?
Dealing with Big Data means you have to deal with the amount of information that would grow huge at short notice. You might soon encounter problems of the system capacity, data restrained, information repeated, etc. In order to avoid information loss or damage, it is very important to upgrade your system as soon as possible.
Business and IT Infrastructure department should be convinced to build an excellent system that able to meet the highest analysis demand in an appropriate and cost-effective way. An upgraded system should have a better storage of data and the ability to handle complex IT problems.
5. Who should manage big data with me?
Big Data is obviously not something you can manage by yourself. This system require huge investment and contains many complex applications. Therefore, it need a smooth and experienced hand to deal with.
Savvycom is the home to software engineers who possess hands-on experience in big data. The research on Vietnamese Human Genome demonstrated how Savvycom adopted big data analytics. Human Genome consists of data up to tens of TB so Savvycom’s engineers in partnership with other researchers from Vietnamese prestigious universities used a large number of open source libraries and software to analyze data. The research has achieved successes and will be applied in hospitals to support doctors in diagnosing diseases based on the genome analysis
It’s undeniable that Big Data is very useful for cost-cutting, increase product utilization time, and a powerful supporter of decision makers. It’s pivotal for companies to think critically and wisely about the use of this technology, to fully achieve it efficiently and economically.