Big data can provide businesses with huge amounts of detailed insight, using information from a wide range of sources not only to solve existing pain points, but also to predict problems in the future and forecast previously unknown opportunities for growth. It comes as no surprise that data is becoming a key tool for many organisations.
However, the vast amount of bad data that is often prevalent within the realms of big data can have reverse effects, and can cause companies to make false predictions and poor decisions. Stopping big data becoming bad data should be a property for all businesses looking to form an effective data-driven strategy.
Quantity over quality
Bad big data is often the result of an unrefined approach to data collection, when companies cast their virtual information nets far too wide to gather huge amounts of, often irrelevant, information from their workforce, consumers or industrial machinery, but with no real plans as to why or how they are going to use it. In this quest for gathering as much information as possible, poor data capture and storage policies can soon form. With this unorganised bulk of unfathomable information, data scientists spend their time processing, structuring and categorising the data they receive, instead of informing important business decisions.
Although it can be tempting to gather as much data as possible, using the ever increasing amounts of sensors and other tools for data collection that are available, it is important to prioritise the questions that you want this data to answer in order to get useful information. Knowing this means that you can streamline your big data strategy, and can determine which types of data that you will need to collect in order to help you reach your goals. This will, in turn, dictate the storage and analysis methods that are used, giving you much a much better quality output.
Knowing the questions to ask
When working with good data, big data can provide companies with highly accurate insights and future predictions, and can be tailored towards very specific criteria. Deciding upon the criteria to measure and the ways in which to use this data can be a challenge, but is they key to ensuring your big data isn’t bad data.
If you need help in forming your businesses critical questions to help lead your new, effective big data strategy, sign up to Big Data LDN today. Global industry experts will be speaking throughout the event, giving you the information you need to utilise the benefits of big data now, to build your vision of tomorrow.