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Challenges Of Developing A Big Data Analytics Capability

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CHALLENGES IN EVALUATING BIGDATA ABSTRACT. This article discusses firms that are at the leading edge of developing a big data analytics capability. Business firms and other types of organizations are feverishly exploring ways of taking advantage of the big data phenomenon. Big data is increasingly the cornerstone on which policy making is based. Firms that are currently enjoying the most success in this area are able to use big data not only to improve their existing businesses but to create new businesses as well. Putting a strategic emphasis on big data requires adding an analytics capability to the existing organization. This transformation process results in power shifting to analytics experts and in decisions being made in real time.…show more content…
Data scientists are increasingly using data quantities in Peta and Zeta bytes. There is no doubt now that organizations, especially larger corporations have started accumulating large amounts of data. Hence, the organization may not be able to analyse and gain insights using traditional ways and means. Based on their research, Davenport and Kim claim that the organizations utilize Big Data in a profitable manner, distinguishing themselves from the traditional data analytical environment. On one hand, Big Data is seen as a powerful tool to address various societal issues, offering the potential of new insights into areas as diverse as cancer research, terrorism and climate change. As with all socio-technical phenomena, the currents of hope and fear often obscure the more nuanced and subtle shifts that are underway. Velocity denotes both the rate at which data arrive and the time frame in which they must be acted upon. Several additions have been proposed by various parties, such as Veracity. WHAT IS BIG DATA? The term Big Data is to a large extent vague and amorphous. Information technology professionals look at Big Data as large data sets that require supercomputers to collate, process and analyse to draw meaningful conclusions. A phenomenon defined by the rapid acceleration in the expanding volume of high velocity, complex, and diverse types of data. The new character added in this definition is
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