Capitalizing on Big Data potential goes hand-in-hand with investment aimed at getting hold of unstructured and external data: begin on a small scale and subsequently build up the capacity to harvest the unstructured and external data.
That is the challenge, that is the Big Data potential that is consistently mentioned: accessing unstructured and external data to develop new insights. That is, concisely summarized, what the term “next-gen Business Intelligence” refers to. It is ultimately a question of “data intelligence.” It represents a whole new generation of approaches, tools, insights, and different ways of working (faster, better and much more efficient).
Nevertheless, data integration and Big Data are already familiar faces in some organizations and among individual experts, think tanks, and particularly in more scientific and data-intensive organizations such as forensic institutes, academic hospitals, telecom companies, banks, insurers, credit card companies and energy suppliers. In such settings, Big Data technology complements traditional research methods such as data-warehousing, data-mining and Business Intelligence. In several cases, in-house experiments are carried out with new technologies, and the impact of the new technology on the existing operational landscape is closely scrutinized.
In terms of technology, the potential of Big Data lies in its capacity to interpret and apply external and unstructured data. In terms of organization, we are dealing with a major transformation. The Big Data potential of every organization is developed along these two axes – the capacity to process unstructured data and the capacity to transform your organization.
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