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Corporate Big Data strategy (PART 2 of 2)

Latest reply: Dec 29, 2021 14:30:44 1131 81 58 0 0

Continution to previous post - Corporate Big Data strategy (PART 1 of 2)


Step III: Determine which business scenarios should be prioritized.


Start out small, think big, experiment often, and capture the essence of use cases while developing a big data approach. Determine which big data use cases can help you achieve the business goals you set out in step one. 


Examine your vast volumes of data with big data analytics to identify underlying patterns, associations, and other findings. These activities should aid in the development and refinement of use cases.


The very next stage is to start prioritizing these use cases based on their business effect, financial requirements, and resource requirements. Nailing down use cases and deciding which ones to start with may be tricky depending on how many functional branches you represented in the process. 


Make sure to keep focused, jot down use cases when they are approved upon, and formulate a strategy as a group.


Step IV: Establish a framework for big data.


One can now begin to build a big data strategy after you've identified your company goals, understood the significance of your data and present competency state, and identified use cases.


This vital phase is frequently the most time-consuming for businesses. Recognize that your big data strategy is merely an outline when building it. You can modify and improve your strategy as time goes on. Imagine your intended outcome and move backwards from there, trying to ensure your end aim is explicit, unambiguous, and straightforward.


The goal of the strategy exercise is to address the gap in data architecture, technology and tools, operations, and proficiencies. The process evaluation will almost certainly lead to a re-evaluation of the use cases that were emphasized in step three. 


Stakeholders will once again serve an essential role in prioritizing these undertakings based on their complexities, money, and expenditure.


What steps should you take to ensure that your big data strategy is implemented?


There's no point in having a strategy if you don't have a plan in place to make sure it's implemented across the board. 


As a result, it's critical to think about the following aspects:


  • Determine the problems with the infrastructure. 


    You may have to undertake infrastructure adjustments to successfully exploit your data, especially data stored in older databases or obsolete systems, that might not be compatible with big data analysis.


    Look at areas where infrastructure modifications will be required and include your stakeholders to ensure that essential data is not lost by various departments or consumers.


  • Examine the employee's potential.


    It's easy to devise a winning strategy; however, without the appropriate roles and technical skills in place, the approach will fail miserably. In your big data approach, don't overlook your human resources department. Your big data workforce must possess the appropriate technical skills to interpret data and communicate conclusions to diverse line-of-business executives.


    Without such a strong team, the entire goal could be jeopardized. Human resources can help you identify and hire the people you need. Furthermore, don't undervalue your current personnel’s ability. Your current workforce may be able to fill crucial positions needed to implement your strategy with a little reskilling or upskilling.


  • Always remember to be flexible.


    Make sure your strategy allows for flexibility. Based on changing circumstances and insights, you must be able to rapidly and simply modify your budget, workers, use cases, and objectives.



Making steps towards your big data strategy for your company


When it comes to adopting a big data strategy, staying adaptable may be the most crucial rule to follow. A big data strategy cannot be an another exercise since data sources and big data technologies are not constant. 


However, a consistent and devoted effort to strategize about data will pay off. A well-thought-out, well-executed, and adaptable strategy will aid your company in gaining useful business intelligence, making better business decisions, and maybe reshaping its strategy.


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user_3915171
Created Dec 6, 2021 17:35:36

thanks
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user_4358465
user_4358465 Created Jan 17, 2022 20:40:31 (0) (0)
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wissal
MVE Created Dec 7, 2021 17:24:42

Useful content
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user_4358465
user_4358465 Created Jan 17, 2022 20:40:37 (0) (0)
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Unicef
MVE Created Dec 8, 2021 02:11:56

WELL DONE
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user_4358465
user_4358465 Created Jan 17, 2022 20:40:43 (0) (0)
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Lucfabrice
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Thanks for sharing
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user_4358465
user_4358465 Created Jan 17, 2022 20:40:53 (0) (0)
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Anno7
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great one
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azkasaqib
azkasaqib Created Dec 8, 2021 16:13:57 (0) (0)
 
user_4358465
user_4358465 Created Jan 17, 2022 20:41:00 (0) (0)
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manpham
Created Dec 8, 2021 05:23:26

Good share
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zaheernew
zaheernew Created Dec 8, 2021 07:48:37 (0) (0)
useful info  
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DragonVN
Created Dec 8, 2021 10:29:04

Good one
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JohnTr
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Thanks for sharing
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NgTrang
Created Dec 8, 2021 14:10:52

Nice share
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