Companies who use big data seem to follow one common mantra – knowledge is power. Businesses collate so much information that it can be very time-consuming to make sense of it all manually. That’s where the use of big data practices is so invaluable. The concept takes huge packets of information, studies it in an attempt to establish discernible patterns and conjugates key trends that decision makers can use for the future direction of the business.
A study of businesses using big data showed that the most oft-cited benefit of its implementation is the ability to make better strategic decisions owing from the neat presentation of vital information. Some leading business thinkers argue that companies resisting the use of big data are selling themselves short and leaving themselves inadequately equipped to make crucial business decisions.
Despite its clear benefits and widespread implementation, there remains a significant number of businesses not wanting to adopt big data practices. Some feel that they don’t have the requisite budget or know-how to implement it, or perhaps they feel that big data cannot guarantee the safeguarding of confidential business information.
This infographic from Colourfast (http://www.colourfast.com/) delves further into the primary reasons for and benefits of adopting big data practices, with some helpful advice on how to make the most of the concept. With 40% of companies worldwide already big data converts, we can expect that figure to grow even more in the months ahead.