Is there anything hotter than Big Data these days? Everyone seems to want in on the latest and greatest technological advance of this century. And, who can blame them? There are massive advantages to jumping on the Big Data bandwagon…as long as you do it the right way.
Unfortunately, far too many people just dive in without doing their due diligence. They get what they think they want, and it turns out to be MUCH more than they bargained for. Fortunately for those who have not yet made those mistakes, you can learn from their blunders. Here are four stupid Big Data mistakes and how you can avoid them.
1 – Trying to get “all” of it
First, there is no such thing as “all” the data. Yes, theoretically, an amount equal to “all the data” exists, but you do not have the ability to capture it. Further, you should not be going after “all the data” you can gather either. Think of it like one of those bouncy castles. They’re lots of fun as long as you keep them properly inflated, but if you fill them full of kids and then OVER inflate them, that could create a host of problems. The lesson here is one of capacity. How much data can you optimally utilize? If you set your sights there, you will be more successful.
2 – Waiting until you “need” it
If you are waiting for your customers to start demanding Big Data based applications, you might as well lie down and grow out your beard Rip Van Winkle. It will never happen. Instead, you need to focus on deciding what YOU need at this moment. Your customers might be willing to thank you for better service, but they are not programmed to demand something they cannot possibly understand.
3 – It’s too expensive
Look, everything is too expensive until you do a cost-benefit analysis. Then “suddenly” stuff that was out of your price range becomes just another item on the balance sheet. Eventually, Big Data will be the same. Yes, it can be pricey, but it can also be very affordable considering the myriad benefits garnered. The trick is understanding what you are getting and why you need it so you can do a proper cost analysis.
4 – We have to catch up!
No, you don’t. Playing catch up is a terrible way to develop a Big Data strategy. You are not building a program to keep pace with your competition, you should be building a strategy that best benefits your business, allowing you to lap those guys. The Joneses are nothing special, stop worrying about what they are doing and scale for your success.
Understand, it’s only natural to be tempted, but if you let your Big Data potential be impacted by these mistakes, the fallout is entirely on your shoulders.