Forbes interviewed some of the top CEOs in the world about the big data trend and they all agreed, big data may be in its infancy, but it is going to change the way organizations operate and analyze. The problem is, organizations still don’t comprehend what big data is, and how they are going to use and analyze it. Even the experts seem to disagree about what big data is.
According to Lisa Arthur, the CMO at Teradata Applications, “big data is a collection of data from traditional and digital sources inside and outside your company that represents a source for ongoing discovery and analysis.” But, as we mentioned in a previous blog post, according to Peter Fingar, the author of Business Innovation in the Cloud, big data is “finding new meaning from new data sources.” Lastly, the analyst company Gartner defines big data as “high-volume, -velocity and -variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.” Despite varying definitions, big data will clearly help to change the way organizations in all industries do business.
According to IBM, 90% of the data in the world today was created in the last 2 years alone. This data springs from such diverse sources as weather, social media posts, digital pictures and videos, purchase transaction records and cell phone GPS signals, to name a few. As the amount of data in the world multiplies exponentially, organizations struggle with the increasing volumes. What good is BIG data, if there is no way to contain, interpret, and analyze it?
This is where the foundation of Observato comes from. Observato helps organizations to cope with large amounts of data by providing a back up, or tracking of data that is created, manipulated, and/or destroyed, within its systems. This makes unlimited data more managable, because it keeps a footprint of where data comes from, what is done with it, when, and where.
Whether an organization is receiving information from a CRM, ERP, MWFM system, or other software, Observato gives organization a backbone structure while telling the story of who touched the data, when, where and why. While it may not be able to analyze the data, Observato gives organizations the ability to comply with audits while managing data quality.
Just like you can’t lasso a bull without a rope, you can’t manage data of any scale without a proper auditing system. Observato fills the holes of other auditing solutions, both built in and home grown, by tracking multiple systems at the same time, giving a full picture of every data file from origin to deletion, and not burdening the pre-existing systems.
While your organization may not be ready for the big data explosion just yet, and you may be grappling with what it can do for you, you can ease yourself into a big data transition by providing yourself with the tools you need to manage this new technological trend.