Although businesses are learning the value of analyzing big data with analytics, the process can be difficult to manage on a large scale. Many enterprises begin with basic data analysis but become bogged down as their efforts progress, preventing them from receiving the full value of their big data analytics.
Organizational adaptation is needed on a large scale to drive growth. This usually involves a change in priorities—businesses need to identify the areas most critical to success and apply analytics across the entire enterprise.
Barriers to Change
Investing in analytics can be a hard pill to swallow for bottom-line focused executives, as early analytic applications don’t always drive defensible returns. However, this fundamental fear undermines the true value of big data analytics—innovation and meaningful insights can only be found by assessing data in context and with the necessary scope. Executives (who fail to see how analytics can improve decision-making) prevent this large-scale assessment from taking place by underfunding the analytic tools, training, and quality controls that quality data analysis needs.
On top of that, businesses without established analytic infrastructure have a tough time of capturing the value that analytics provide. Often, industry-wide shifts are necessary to set an enterprise towards better analytic governance, and yet top-level executives are wary of this transition and its costs.
Scaling to Increase Impact
Despite the barriers to change common in companies beginning to leverage big data, new technologies are developing that help address the challenges of achieving scale:
- Analytics software is improving in sophistication, allowing more targeted solutions that better address the specific needs of each business. This translates to a more direct and demonstrable impact on a businesses’ bottom line.
- Users of analytic tools are gaining confidence in the value of analytics; this push towards adoption is a necessary part of analytics generating enough momentum to become a viable option at scale.
- Aside from the improved tools on offer, businesses hoping to achieve scale must adapt their internal policies to reflect analytics’ increased role. Decision-making must become intertwined with analytic reporting, along with a general push towards a culture of data governance that involves redesigning jobs and placing faith in analytics.
Analytic solutions are becoming more accessible than ever, changing the way businesses will handle big data. As technology continues to grow, a foundational culture of analytic reporting and data management will become a necessity for businesses hoping to stay lean and profitable. Businesses need to speed up their data-analysis transformation practices.
Written by Desh Urs
Desh Urs brings more than 20 years of entrepreneurial, start-up and Global 500 corporate experience in sales, marketing, and general management to the customers of iBridge. He has led sales organizations as SVP at Qsent, Inc. and VP at Acxiom Corporation, and has focused on the usage of data in data distribution, direct marketing, fraud prevention, and law enforcement.
As a Vice President of Global Sales, Services, and Marketing at Silicon Graphics, Inc., Urs managed engineering and non-engineering functions, developing solutions in sciences, telecommunications, manufacturing, media, business, and defense intelligence, for companies with revenues of several billion dollars. During his tenure as Vice President at Think Tools AG and Brio Technology, Inc., he ran business development and alliances providing solutions in Business Intelligence and Decisions Cycle Management to Global 100 corporations worldwide. In the late 1980s, Urs founded Indus Systems, Inc., which he profitably sold to a systems integration company.
Urs serves on several Advisory Boards, as well as many company Boards, in the United States and India.