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The information technology sphere is buzzing with big data analytics. We wanted to gain insight into how to extract value from the analysis of data. SearchCIO facilitated a big data tweet jam on March 27 to tap into the expertise of our esteemed Twitter followers.
When the clock struck 3 p.m. on the East Coast, Twitter ignited with discussion under the #CIOChat hashtag. This was the first question asked @searchCIO followers out the gate:
— SearchCIO.com (@searchCIO) March 27, 2013
Most tweet jam participants agreed there is value in the analysis of data, but did not shy from pointing out that big data analytics is difficult to manage and time-consuming:
— JBA International (@JBAPeople) March 27, 2013
A1 Collecting, extracting, presenting big datais tough: is it worth it? Yes if the business has a data-driven culture. #CIOChat.
— Linda Tucci (@LTucci) March 27, 2013
— Michael Gerard (@michaelgerard) March 27, 2013
The analysis of data is useful, but what is it most useful for? Tweet jammers say predictive analytics and change management:
It's a multi-faceted question, depending on your industry. Social media big data? Meh. Predictive analytics? Yes please. #ciochat— SearchCIO-Midmarket (@CIOMidmarket) March 27, 2013
Data analytics can help in measuring performance, but should also inform change management & agile decision making.#CIOchat— Dun & Bradstreet (@DnBUS) March 27, 2013
Big data analytics can be a major time and money vaccum. Does this come as a surprise? Our March tweet jammers took that reality in stride and instead offered up some suggestions for pre-analytics consideration:
A1 Only if you have good questions.If you go "fishing", hard to know. Use big data to answer BIG Business Questions!#CIOChat— Charles Caldwell (@CCaldwellLogi) March 27, 2013
A1 Take for example Walmart: Before big data, they were hiring people who had stolen from them previously. Seems a no brainer. #ciochat— Wendy Schuchart (@wendyschuchart) March 27, 2013
A1. Before spending all the time & money on Big data analytics, you need to know what you're looking for…what are the questions? #CIOChat— Brian Katz (@bmkatz) March 27, 2013
A1: Effort should be to ID & collect all the data you can. Before addressing it a clear set of objectives/goals should be defined. #CIOchat— Mark Thiele (@mthiele10) March 27, 2013
Before investing any time or money in the analysis of data, IT teams must have questions, objectives and goals that will extract value for the business. Furthermore, as with any costly, time-consuming endeavor, IT leaders should practice due diligence before proceeding:
Do you think time and money spent in the analysis of data is worthwhile? Let us know in the comments section below.
Read more about what SearchCIO tweet jam participants had to say about big data analytics by searching the #CIOChat hashtag on Twitter. Follow the rest of our big data conversation at: Data interpretation and visualization techniques add business value ... Hire a data scientist or train a data analyst.
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Emily McLaughlin, Associate Site Editor asks:
How much time should be invested in big data analytics to extract business value?
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