To Succeed with Big Data, Start Small – HBR

Here is some great advice on your “beginnings” with Big Data  —  start small and test the results for an optimum use for you, thus a cost effective way for small business on a tight budget.   You can then scale or adapt to more and new as “knowns” are put into place.

Excerpt:  While it isn’t hard to argue the value of analyzing big data, it is intimidating to figure out what to do first. There are many unknowns when working with data that your organization has never used before — the streams of unstructured information from the web, for example. Which elements of the data hold value? What are the most important metrics the data can generate? What quality issues exist? As a result of these unknowns, the costs and time required to achieve success can be hard to estimate.

As an organization gains experience with specific types of data, certain issues will fade, but there will always be another new data source with the same unknowns waiting in the wings. The key to success is to start small. It’s a lower-risk way to see what big data can do for your firm and to test your firm’s readiness to use it.

Read full article via To Succeed with Big Data, Start Small – Bill Franks – Harvard Business Review.

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