CREATING OPPORTUNITIES USING BIG DATA AND ANALYTICS
RC: Could you provide a brief overview of big data and its growing importance to businesses in recent years?
Shaghaghi: For many years organisations have focused on ways to better source data, improve the quality of their data, analyse the data and correlate and connect unrelated data to make meaningful decisions. As we have moved further into the digital age, we use and produce data through the internet and social media more than ever before. This has introduced opportunities for businesses to have access to additional sources of unstructured and structured data with unprecedented volumes, velocity, variety and veracity. If properly defined and implemented, current and future big data solutions and advanced analytics will incrementally and significantly enhance organisations’ capabilities to build value in many ways. Although the adoption and value realisation of big data programs varies by industry, every business should look into big data as a core component of their strategic decision-making process.
RC: What are some of the key benefits and competitive advantages that can be leveraged from big data analytics?
Jan-Mar 2015 Issue