Digital Transformation

Factors for Successful Value Creation for Big Data Initiatives

One of the major challenges of Big Data initiatives is the Value Creation. What is the business value of the data in question and how to leverage it to successful business strategies. There are various factors influencing the successful value creation.

big_data factors

Source: McKinsey Global institute

IT intensity – This is a big factor when doing analytics it is important to have the right tools, support and IT engagement. Many organization struggle when IT is mainly performing just infrastructure maintenance and support.  How well invested in right tools and knowledge workers makes a big difference.

Data Availability – many organizations have incomplete data or in silos and or not in a position to make it available on time to the consumers. The reasons could be many from not having the technology, people, process, and awareness.

Covid 19
COVID-19: Digital Insights For Enterprise Action

Access Perficient’s latest insights into how you can leverage digital technologies to not only respond to the pandemic, but drive your operations forward and deliver experiences your customers need.

Get Informed

Data Driven – This is an important cultural factor. How well the organization seeks and used the data in decision-making process will spell the success of the Big Data initiatives.

Analytical Talent – This is a major factor. Some organizations are heavily invested in analytical talent based on their industry requirements. This is a premium talent and everybody competes for the top talent in this area.

Understanding where you stand in these factors and appropriately augmenting the shortcomings with the right tools, people, process will go a ling way in implementing successful Big Data Initiatives.

 

 

 

About the Author

Shankar RamaNathan is a Senior Enterprise Architect with 25+ years of experience in successfully developing and implementing IT strategy and Information Governance ( Master Data Management, Metadata Management, Data Quality and Data Governance) programs.

More from this Author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to the Weekly Blog Digest:

Sign Up