Five Misunderstandings of Big Data Analytics

In this post, we have provided five Misunderstandings of Big Data Analytics: Only by cracking the misunderstandings can we tap the value of data.

Big data will not cause you big trouble. In fact, big data can help you minimize business problems and help you make strategic decisions. But if you don’t figure out some misunderstandings about big data, it may also bring you unnecessary trouble. Let’s take a look at the five misunderstandings that everyone has about big data:

Misunderstanding 1: It is new

As a business user, you still face the same problems. What has changed is the way you solve these problems. Now the solutions to these problems come from an unlikely source: your big data. More than 85% of companies are implementing or preparing to implement big data plans. Big data allows business users to access more data, more tools and resources, and help solve business problems in a faster and better way.

Misunderstanding 2: It is complicated

If nearly 90% of the data tables have errors, then you are simply wasting time dealing with outdated and possibly inaccurate data. There are many intuitive BI platforms (such as GoodData) on the market that provide ready-made solutions to help process data.

While eliminating complexity, these systems can automatically and flexibly meet your specific business needs without human intervention and errors.

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Misunderstanding 3: It is expensive

In marketing automation, CRM, and social media platforms, you have a lot of data to track, but you don’t have to spend a lot of time to do so, because new big data solutions are not only cheaper, but also provide quick access. No matter what position you are in the company, big data solutions can help you find problems and solve them quickly, saving time and money. Your business should deploy these systems, after all, data is your most valuable asset.

Misunderstanding 4: The more data the better

How much data you have is important, but the type of data is even more important. Using KPIs and tracking indicators, you can know what kind of data to collect, and how to use the data to make wise business decisions, thereby obtaining a return on investment.

Misunderstanding 5: Only digital geeks can tap the value of big data

Mining the value of big data no longer requires data experts or analysts. Anyone can use the dashboard to get valuable data by clicking a button.

How much do you know about your big data? Now is the time to turn your massive data into business value.

The 5 Biggest Misconceptions About Big Data Analytics

“What are some common myths or misconceptions holding local governments back from taking full advantage of big data, analytics and other open data resources?” Let’s hear your views. Big Data is the Answer to All Questions. Unfortunately, this is a myth. Big data cannot answer everything with the push of a button. The 5 Common Misconceptions About Big Data Analytics has been explained to the best of our knowledge.

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