At a strategic level, many folks have a perception of what Big Data is but many I have talked with are reluctant to move in that direction due to a fear of the unknown. In other words, they think they know what Big Data is but there is an uncertainty as to whether the concepts of Big Data can be achieved. A recent Industry Watch by AIIM titled “Big Data – extracting value from your digital landfills” points out that:
-
70% of respondents can envisage a killer application for big data that would be “very useful” or “spectacular” (18%) for their business
-
Lack of in-house expertise is the most prominent issue facing users, followed by cost, and then the difficulty of connecting their datasets
What we are talking about here is the ability to find and mine all relevant data and information needed to make more intelligent decisions in running our businesses and organizations. The source of this data could be internal, external and more likely a combination of both. The same AIIM survey shows that nearly 40% of respondents indicate they have too much data and not enough analytics. When asked “Would it be useful if you could link structured and unstructured data sets for analysis?”over 60% cite they would find it very useful if they could correlate text-based data with transactional data, but only 2% are able to do so at present.
In my view, the concepts of Big Data are sound and extremely beneficial. Of course like most things related to information management, there are challenges in getting there. I see this as a concerted effort leveraging search, findability and analytics to a higher degree than we have seen in the past. That said, it also requires more thought and planning around what information is valuable and how it get managed. Internally, you can focus on elimination of redundant content and consolidate storage perhaps moving from shared drives to a central repository. To make it more findable, perhaps the development of a management structure that includes categorization, taxonomy and metadata to help gain consistency. Think about the types of information that are used and the forms it takes. Is there a way to standardize formats that may make mining your information and data sources more effective and efficient?
I know that this only scratches the surface and the discussion can and should take many more directions than what I present here. There are cloud applications, search applications and external resources that need to be considered. In addition there are issues related to security, retention and all of the familiar elements we discuss in the land of ECM not to mention how all of this impacts your business processes. Bottom line is that Big Data is on the move and there are many benefits to be gained as a result so do not be afraid of it, plan for it. Develop a framework that suits the needs of the organization and begin your journey toward establishing a Big Data environment that supports and grows. If you need help, find training or experts who can provide guidance in the areas where you want to focus.
What say you? Do you have a story to tell? What are your thoughts on this topic? Do you have a topic of interest you would like discussed in this forum? Let me know.
Bob Larrivee, Director and Industry Advisor – AIIM
Email me: blarrivee@aiim.org
Follow me on Twitter – BobLarrivee
www.aiim.org/training
#BusinessProcessManagement