Effective business decision-making has come to depend on real-time access to business intelligence (BI) analytics, which offer firms deep insight into particular processes, customer behaviors or market trends. However, that capability has become a challenge in the face of ever-expanding big data, which many enterprises are looking to overcome. According to industry experts, in order to harness this information for meaningful application, firms need to take a more strategic approach with the support of robust BI solutions and database experts.
A series of reports recently released by Aberdeen studied how corporations are struggling with big data while the demand for fast access to analytics is rapidly accelerating. Nathaniel Rowe, an Aberdeen analyst, argued that firms need to delve more deeply into business metrics and customer desires. He recommended investing in real-time integration tools that can allow companies to rapidly incorporate raw data for analysis, thus fueling faster and higher quality decisions. Rowe revealed that organizations using these tools are able to deliver timely information 89 percent of the time, while this is only possible 73 percent of the time without such tools.
Rowe also suggested that evaluating supplementary integration technologies may be useful, especially since modern IT environments are constantly evolving and becoming more complex. Ideally, he asserted that enterprises should deploy a single skilled professional or team of such experts, such as DBA services, to meet big data needs. According to Rowe, organizations that do so are able to reduce integration costs while sustaining productivity.
Taking a unique approach
Wired contributor Doron Aspitz reported that the majority of legacy BI tools fail to efficiently and accurately interpret big data. Enterprises are bogged down by a multitude of reports, all of which break down data but don't offer actionable insight that can have any kind of impact or concrete results. To create ROI from BI solutions, Aspitz argued that firms need to deploy the most advanced tools and expert advise for analyzing information in a way that fits the business' specific domain. He explained that by doing this, companies can better understand what information specific to the industry is most valuable based on trends and patterns within the market.
There is no one approach to harnessing big data that can work for all organizations. The most effective BI solutions and experts can not only interpret large stores of data, but also provide context around the information for more relevant events and a more holistic understanding.
RDX's business intelligence and big data experts assist customers in leveraging data contained in large data stores. For more information, please visit our Business Intelligence and Predictive Analytics pages or contact us.