Hexigo's CEO - James Cattermole was recently asked for an interview to provide his top five predictions for big data. Since a lot of enterprise decision making and decision management involves managing and analyzing large amounts of data, and Hexigo is a decision management platform for enterprise, James has some very good insights. These were his top five big data predictions:
1. A much higher volume of companies will implement a Big Data strategy. At the moment Big Data is a buzz term and has gained a lot of attention but not necessarily a lot of understanding. As more companies get their heads around what Big Data is and how it can benefit their organisation, they will move from watching the Big Data space to actually implementing a Big Data strategy, even if it’s a pilot.
2. Companies will realize that Big Data only brings benefit if it is aligned to the company’s overall strategy. Just crunching number means nothing. Big Data only brings value if there is a very clear understanding of the strategic objectives. A Big Data strategy is exactly that; a strategy, and like any strategy it must have key objectives in order to be successful. These objectives and the decision processes behind them must be clearly understood before a Big Data strategy can be successfully implemented.
3. There will be a lot more Big Data players, in more specialized fields. Big Data is not just technology, it also involves knowledge management, strategic planning and decision management. Over the next 12-months there will be a proliferation of these Big Data related organisations. With this proliferation will come specialization whereby technology suites and consulting firms will start to hone a generic Big Data offering to target specific industries.
4. Big Data will start to be owned by the end user. Currently most Big Data programs are owned by the IT department and operated by specialized data scientists. However the power of Big Data will really be demonstrated when business users can analyse the data themselves. An increasing number of tools will focus on driving the utilization of Big Data into the hands of the end user by simplifying the data integration process and making the user interface easier to use.
5. There will still be a lot of confusion. Even though Big Data will become more mainstream in the next 12-months it will still be largely controlled and understood by technical people. In addition to this the term “Big Data” will be applied to just about every system out there which will further confuse people. Finally, while there will be a lot of new providers there will also be a lot of acquisitions and mergers, which means the players in the market will be in constant flux. All of this means Big Data will still be a largely misunderstood arena in 12-months’ time.