Big Data is nothing new. The majority of companies now collect a wealth of information about their customers and processes, leveraging the insights to streamline operations, drive marketing, and ultimately increase profits. The opportunities made available by Big Data are truly astounding. However, many companies are still not seeing a return on their investment in data. There are a number of reasons for this, all of them easily fixable.
1. Stuck in ‘gut instinct’ mode
2. Lack of C-suite buy-in
3. Big Data silos
4. Focusing on the wrong Data
5. Not taking action