• Problems with big data have been around for a while, and we haven’t noticed them. It’s about time that we take note of this and find a solution to these problems.
Big data is known as the information that arrives from numerous sources. Another striking feature of this information is it is prone to continuous change. Today, most companies hold immense volumes of classified data. Analyzing this data can help businesses with actionable insights that help improve their decision-making. Upon analysis, data offers varying insights on market trends, competitor moves, and customer sentiments. By using these insights, authorities can decide what they can do to stay ahead of the competition. Currently, there are numerous sources of big data. These sources include different social media platforms, transactional information, phone call information, and internet activity, to name a few. According to a report, Walmart handles more than a million customer transactions that are analyzed to improve their performance. All the information that Walmart holds sums up to nearly 2.5 petabytes of information. Problems with big data lie not for managing such constantly changing information but in acquiring actionable insights from this information.
ANALYTICAL PROBLEMS WITH BIG DATA : Even though big data is changing businesses by providing actionable insights, there are certain problems related to it. A problem with big data is that it grows constantly and organizations often fail to capture the opportunities and extract actionable data. Companies often fail to recognize on where they need to allocate their resources. This failure in allocating the resources results in not making the most of the information. Apart from that, organizations often end up with talent that does not understand how they should use big data analytics. Such a dearth of trained employees who can extract information results in companies not making the most of information held by them. Furthermore, while extracting insights from the big data held by them, companies fail to identify the right objective and end up with insights that are not so helpful for their growth.
DATA THEFT IS EVIDENT : When organizations store large amounts of data sets, these sets consist of almost every type of information that is even minutely meaningful for the company. As a result, when authorities fail to install proper security measures, they are susceptible to the threat of data theft.
This information theft means that a company is losing out on vital information. Moreover, data theft can also disclose confidential information that the business has hidden over the years. This could mean a lethal blow to the business’ reputation.
Consumer information is the primary target for an attacker. By stealing such information from an organization, attackers can sell it to other companies for monetary benefits.
Problems with big data are avoidable with proper solutions. CTOs and CIOs can start searching for ways through which they can avoid the problems of big data analytics. Securing big data is also an aspect that companies can take into consideration. Necessary changes in the infrastructure may be imperative to ensure that the data stays safe and usable.