The big data market is expected, by one estimate, to grow more than 30 percent annually until the end of the decade. But more than half of big data projects fail--and even those that do succeed can fall apart if the findings aren't applied to operational efficiencies. Ron Bodkin, CEO of Think Big Analytics, offers advice to help you prevent your business from becoming just another statistic.
It should be clear to every IT leader in every industry that data is eating the world. The retail sector is no different. And finding the people who can mine the gold out of the vast veins of data running through the retail world is proving particularly challenging.
IT executives are starting to realize that there's little value in big data without robust analytics systems that can crunch the numbers and give key decision makers (read: their bosses) easy-to-digest information. With so few real solutions on the market, though, this is easier said than done.