There are numerous challenges of Big Data. Choosing Big Data solutions is a normal practice for most businesses today but that does not mean that it is free from challenges.
2. There are numerous challenges of Big Data. Choosing Big Data
solutions is a normal practice for most businesses today but that
does not mean that it is free from challenges. Based on the
findings of NewVantage Partners Big Data Executive Survey
2017, almost 95 percent of the business leaders from
multinational corporations cited that their companies had
accepted one Big Data project in the last five years or so. Also,
less than 48.4 percent cited that their Big Data strategies gained
3. 1. Budget is a Concern
• Though there are many benefits of Big Data analytics
solutions, the CIOs of Big Data services companies find it
hard to persuade the CFOs and justify the return on
investment on Big Data.To be candid, the projects are
expensive.
• Based on the findings of leading technology companies,
current projects are costing them at least 18 percent of their
total IT expenses on an average.
• This will increase 25 percent more in the subsequent years.
The survey respondents said that huge investments are
necessary to let the multinationals’ Big Data projects
mature.
• The major investments include hiring skilled staff as well as
4. 2. Managing data explosion
• Most Big Data solutions companies have problems coping
with huge amount of data generated daily.The noticeable
problem lies in the storage and analysis of this huge data.
• According to IDC’s Digital Universe Report, the volume of
data stored in the global IT systems increases two-folds
every two years.The total data volume will be adequate to
fill tablet piles reaching to the moon from our planet 6.6
times.
• Another aspect is that companies have some accountability
or responsibility for approximately 85 percent of such data.
Furthermore, data in the form of photos, documents, audios,
and videos is unorganized data and difficult to search and
evaluate.
• The Big Data solutions companies need to implement tools
and technologies such as Hadoop, NoSQL, Spark, artificial
intelligence, business intelligence software, machine
learning, and Big Data analytics solutions to find useful
5. 3. Data Storage
• Based on the findings of the State of Big Data Infrastructure,
the use of information in companies had increased at an
average rate of 16 percent in 2013-2014 and another 24
percent in 2016-2017.
• Then, these numbers could be skyrocketing for corporations
dealing with huge consumer data.The IoT will add more to
this problem.The question which then arises is, where will
you store such large amount of data?
• The solution is switching to a cloud environment, but all
enterprises are prepared for the same due to legacy
problems.
• IBM, for example, has been working on cognitive storage to
let computers know which data is important and what
6. 4.Visualization Issues
• When most of the data is granular, it is challenging, if not
impossible for Big Data solution providers to make sense of
such information.
• Pulling out millions of data rows is a cumbersome task for
analysts responsible for organizing, arranging, and
presenting the information.
• It is advisable to use data visualization tools to derive useful
insights from data overload.
• It is better if companies develop new user-interactive
systems supporting virtual and augmented reality.
7. 5. Hiring and Retaining Big Data
Professionals
• The Big Data solution providers need to hire the best talents
who can develop, control, and run the applications
generating useful insights.
• This leads to a high demand for Big Data experts with
average salaries ranging between $116,000 and $163,500.
• Therefore, hiring and retaining data analysts or business
intelligence professionals is a big challenge now.
• The companies meet the dearth of talent through salary
hikes, training opportunities to existing staff, and retention
policies.
8. 6. Incorporation ofVaried Data
• Companies offering Big Data services often face challenges
related to the integration of diverse data from numerous
sources.
• Information comes from multiple sources such as email
systems, social media, and employee-generated documents.
• Merging all such information and bringing them together to
generate reports is incredibly challenging.Although the
vendors provide a range of data incorporation tools and ETL
(extract, transform, load) to make the process a tad easier,
the companies are not happy with the solution.
• That is why they are resorting to big data tools, data
analytics software, and integration technology.
9. 7. Leveraging Useful Insights on
Time
• The companies specializing in Big Data services do not just
want to store information but leverage the data for gaining
useful insights, and realize business objectives.
• These goals help enterprises to become more competitive
provided they can mine the data with speed and accuracy.
• Many companies today are switching to new-age analytics
tools and ETL to attain the required speed in mining data
and deriving useful insights.
• These applications radically help in reducing the time
required to create detailed reports.
10. 8. Protecting Data
• Securing information is a major challenge for companies
dealing with huge data sets.
• The Big Data consulting services ensure the protection of
mission-critical information.
• They walk the extra mile to secure huge data stores from
hackers. Most companies, therefore, have their data security
measures in place for their big data requirements.
11. 9. DataValidation
• Companies receive the same kind of information from
diverse systems but the data does not always match.
• For instance, your e-commerce system may display daily
sales but your ERP system shows a different number.
• To make these records match, secure, and usable; the
companies switch to data governance.
• There are dedicated experts to monitor data governance and
create a set of rules, policies, and guidelines.
12. 10. Organizational Problems
• People can be a challenge when it comes to big data
implementation.
• Based on the findings of NewVantage Partners survey,
about 85.5 percent of the participants cited that their
companies had a data-driven culture, but a meager 37.1 cited
that they were successful in their endeavors.
• Companies should improve decision making by hiring
powerful leaders who know about the benefits of Big Data
and what challenges the company.
13. Conclusion
• The key to the growth and success of data implementation is
choosing the right Big Data consulting services and deriving
useful, actionable insights from huge data sets.
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