Question

6-16: Should all organizations try and analyze big data? Why or why not? What people, organization, and technology issues should be addressed before a company decides to work with big data?

Answer 1

The big data deals with a large volume of data both structured and unstructured that overflow through the businesses on a day-to-day basis. Big data can be analyzed for better decision making and strategic management of the business. But analyzing big data is costly and it is not very effective for small size data therefore it is not suitable for all organizations to try and analysis big data. The organizations with better resources to collect the data and having trained human resources and other facilities to analysis it should use big data analysis tool to analyze and identify gaps in quality, risk, resources utilization and consumer behavior insights etc.

The organizations have to evaluate their strategic goals first and should do a cost benefit analysis before going for big data collection and analysis. The skilled human resource and the cost and availability of the appropriate software and hardware technology should be addressed before a company decides to work with big data analysis.