Debunking Big Data Myths. Again
Myths change with understanding. Misunderstandings on some of the current myths surrounding big data as follows will fade away: big data is made for big business, big data adoption is high and machine learning overcomes human bias.
It’s important to note that myths change with understanding. As we learn more, certain misunderstandings will fade away, but also give rise to new questions and concerns. The following are some of the more current myths surrounding big data.
Big data is Made for Big Business
This is one of many faulty big data beliefs and can be misconstrued two ways. First, only big companies are able to invest in the tools necessary to manage and analyze big data. Second, only big companies produce enough information to be considered big data.
It’s true that for a long time the information, tools and professionals were out of reach for smaller businesses. However, recent improvements in technology, like cloud computing and data management tools, have significantly decreased the price of storage and analysis. Also, there are plenty of options to outsource big data needs, which can help limit costs.
Big data is a Magical Solution
Big data analytics can be a great tool in learning new insights and developing better strategies. It’s not, however, a magical cure that’ll solve all your company's problems and make you the greatest business ever. It certainly won’t produce any overnight changes.
Organizations need to temper their expectations remember that proper data implementation will take time and energy before yielding results. Companies need to make sure they have the right systems in place to leverage the insights big data analysis produces. Just collecting information and storing it won’t do anything. It’s only through proper analysis and decision making that you’ll learn the right insights to further your business objectives.
Big data adoption is high
You’d think with how much people have been discussing the big data trend, and how many experts tout it’s ability to improve decision making, that most companies would be fully immersed. However, the reality is that many businesses are interested in big data, but few have actually taken the plunge and adopted a solid, large-scale data strategy.
If anything, this should serve as a powerful motivator for companies to get started. If the promises of big data are true, businesses who start taking the right steps to adopt the technology now will have a significant advantage over those who are procrastinating. This is particularly true for small or medium sized businesses who could really see significant improvements thanks to the tools recently made available to them.
Machine Learning Overcomes Human Bias
A popular discussion in the realm of new tech improvements is whether or not big data could ever replace human intuition. Many argue that human emotion impedes good decision making, whereas a computer’s ability to make unbiased decisions makes them more accurate. Especially now as machine learning has become a major component of big data, computers can be taught to learn and make decisions without constant human oversight.
Bio: Rick Delgado, @ricknotdelgado, is a technology commentator interested in enterprise technology.
- Open Innovation in the Age of Big Data
- Big Data and Humanitarian Efforts
- What is Big Data – answers from thought leaders