Big Data – Is it really worth it?

big-data-is-it-worth-it-SMARTeIt quite interesting to read on various blogs and social platforms what people discuss related to Big Data. It is not essentially an instance of observing each facet of what’s being discussed on but what is fascinating is which discussions pick up the most footing.

Let’s pick up a quote from Dan Ariely – a renowned best-selling author and Duke University professor made last year.

“Big data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it.” –Dan Ariely

Wow, what a brilliant line to sum up Big Data. You will find it hard to argue with such a bold statement. If you analyze carefully, you’ll find the obvious answer that it is not extremely difficult to search numerous reports that back the statement that many companies are accepting ‘Big Data’.

According to a Gartner report published last year, approximately 64% of mid to large enterprises that were surveyed show that they are either implementing or planning to undertake Big Data projects in the future. Still, many more recognize that they are not fully aware what should we done with Big Data. Have the prisoners formally assumed control over the Big Data refuge? Time will tell but it showcases the recent few years survey reflecting a strong confidence booster that Big Data can assist in enhancing the client experience (54% agreed this as their motivation builder), increase process competence (42%) & unveil new products or business prototypes (39%).

I understand for every Apple, Facebook or Google, there are hundreds of mid & large enterprises (and probably many more) doing nearly zero activity in regards to Big Data. There could many reasons for this lack of widespread acceptance. One could be, the identical hesitancy that has held correct with almost every enterprise technology (ERP, CRM, etc. score more). Another could be the many thought about Big Data showoffs (and there are certainly some that are to be avoided). Maybe, many companies do a very poor job of managing their in-house Small Data which consists of the transactional or relational data which undergirds their local operations. We can go on-and-on here but one thing that we can certainly say that slowly but steadily, Big Data has made strong inroads in the enterprise industry.

Who knows, perhaps in a couple of years, Dan Ariely’s assessment would not be correct. But at this moment, however, it is right on target. The genuine hype surrounding Big Data surpasses its true execution. Don’t expect this to change anytime soon.