Mistakes to avoid when setting up a big data firm

徐晨瀚


D0740916




Through the rapidly develop of information technology, it is clearly that big data has become the mainstream. Most of companies enormously collect data for their company, drowning in data lakes, and worse, they are not able to make a good use of big data. 

Without the doubt, founding a firm could carry out some risks and frustrations, and big data has no exception. To solve these problems, you need to clearly understand what you are doing and avoid it.

Looking for talent is a process for every industry, as correctly, they should be proficient in Mathematics,Statistics and business analysis skills. However, in the meantime hire people, even people fresh out of college, with right acquire motivation can be prior condition. 

When it mentioned to client, do not hard sell your algorithm, tell the whole program in detail. Because every client could be at different situation in big data, some may experienced, others may have just started. Thus, find out the pain points of client and help them articulate their problem statements.

 Big data has not attained that level of maturity that enterprises can easily calculate the return on investment. In some way, it is where eCommerce or Cloud Infrastructure were in their nascent years. In general, the CxO’s  know the benefits that will result from Big Data initiatives but it is difficult to quantify these benefits and hence,they not able to decide how much to invest in a data initiative. 

To sum up, the best way to deal with this issue it is to help build compelling business cases and deeply figure out the questions, solve it and do not let those factors deter your plan. 

Comments

Post a Comment

Popular posts from this blog

How Big Data Can Boost Weather Forecasting

張岳庭 D0741017 Source:  https://www.wired.com/insights/2013/02/how-big-data-can-boost-weather-forecasting/ Considering the number of variables involved and the complex interactions between these variables, weather forecasting has always been extremely challenging. The significant increase in data collection and processing capabilities has greatly improved the ability of weather forecasters to pinpoint the time and severity of hurricanes, floods, snowstorms and other weather events. Globally, more and more evidence of climate change is prompting governments and scientists to take action to protect people and property from its effects. But to take effective measures, they need to know more about the weather-from everything that will happen tomorrow to what will happen next year. According to the professor of economics and finance , Alan Anderson, PhD , “Example of an application of big data to weather forecasting is IBM’s Deep Thunder. Unlike many weather forecasting systems...
Read more

How Big Data is Changing the Production Industry

Blog#4 : How Big Data is Changing the Production Industry Name : Aileen 蔣慧玲 Student ID : D0726917 Source :   https://www.productionhub.com/blog/post/how-big-data-is-changing-the-production-industry Information technology plays a major role in Hollywood. Producers have to use big data analytics to get the right consumers and communicate with them well. Big data technologies will help filmmakers figure out the best ways to share their ideas and deliver messages, develop movies and content that involve ethical and societal issues. Therefore, information that we can get from the help of big data can help filmmakers make key decisions. Big Data is Changing the Production Game Big data technology can help filmmakers to connect and engage with consumers more directly using social media, mobile devices and traditional advertising outlets. Using this technology, producers can develop promotions that reaches the right consumer at the right time. It is not enough just to mainta...
Read more

Big Data case study: 5 relevant examples from the airline industry

D0740712 Connie  吳霈晴 Website: https://blog.datumize.com/5-relevant-examples-of-a-big-data-case-study-from-the-airline-industry With the summer vacation coming, travel is the one that people love to do during vacation, especially long vacation, going abroad may be the first choice for many travelers. So this makes me think of what is the relationship between big data and airplanes? How will it apply on the airline industry? This article tells about the benefits of big data on airlines, which covers three main advantages. 1.      Smarter maintenance 2.      Safer flights 3.      Improve service The first one includes the fuel of airplane, by analyzing and predicting, the article takes some specific airplane company as an example, giving the real number and how much they save the cost. Second, safety. Like this kind of transportation has a higher risk to take, if have the big data’s help, th...
Read more