How many times have you heard someone comment, “the data says this…” in support of their argument? It’s a common enough phrase, pre-dating the rise of big data, but what many companies don’t realize is that it can be detrimental to their business to rely on such a phrase.
IBM reports that 2.5 quintillion bytes of data are created every day. That’s a mind-blowing amount of data, but even more astonishing is the fact that 90% of all existing data has been created in the last two years. But at the end of the day, data is just data. It tells us what is and nothing more. Big Data may be a buzzword in the business world, but the smartest leaders know it’s not the ultimate resolution to all their problems. Yes, big data can be extremely powerful, but true business intelligence goes beyond the hype. The biggest mistake companies make in big data is in giving it too much power. [···]