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Big Data strategies for business growth

Over the past two years, one of the seminal issues regarding Big Data was storage, especially with respect to the exponential growth and size of unstructured data that did not fit into databases. Today, however, the competitive landscape is very different. Proper storage is merely a pre-condition to finding the real jewels in Big Data-turning data from massive streams into knowledge, and thereby actionable intelligence in real time as events unfold. The following five steps are imperative to master Big Data and drive business growth:

1. Infer, Infer, Infer- Inferences transform data into knowledge, which results in greater process transparency and improvements.

2. Empower a C-Level Data and Predictive Analytics Champion. - With big data analytics changing rapidly and straining information structures, corporations and governments need “executive horsepower” behind its data initiatives.

3. Assess And Modify Your Supply Chain In A Multidimensional Global Context. - Analysis of supply chain will ultimately include relationships with parties such as customers, manufacturer, etc. 

4. Give Your Data Time-Critical Situational Awareness. - Analytics help a business line identify potential points of improvement.

5.   Rely On a Core Platform That Creates Derivative Intelligence and Knowledge in Real Time -statistical inferences can turn data into actionable intelligence that supports reasoned decisions. Read more at: 

http://www.forbes.com/sites/benkerschberg/2014/01/03/five-steps-to-master-big-data-and-predictive-analytics-in-2014/

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