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Learn the Mantra to Unlock 'Crown Jewel'

Christo Jacob
Monday, April 1, 2013
Christo Jacob
Today while the whole world is embracing about the huge opportunity of Big Data, it’s not too far for Big Data applications and stores to become the 'Crown Jewels' of an organization. As per the proponents of this new technology, Big Data would allow us to see and measure things as never before - much as the microscope allowed scientists to examine the mysteries of life at the cellular level. It will open the door to making smarter decisions especially for telecom carriers, banks and many more. While this rosy picture holds good like a Steven Spielberg neo-noir science fiction film movie predicting the customer needs, the sad reality is that most organizations do not know the real mantra to understand and experience the impact of this 'Crown Jewel'. Today organizations are still struggling to extract strategic value from their Big Data.

For instance, recently "The Cisco Connected World Technology Report" reveals that while most companies are collecting, storing and analyzing data, many are struggling with both the business and IT challenges of Big Data.

Today data volume is expected to reach 35,000 exabytes by 2020, representing a 20-fold increase in the next 10 year, what we lack is the talent that can handle the massive information today. McKinsey states that the U.S. alone faces a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts to analyze big data and make decisions based on their findings.

Big Data being at an inflection point, having a core set of deep analytical talent is not enough to transform an organization, especially if the key business leaders and analysts do not know how to take advantage of this big data capability. All of the business leaders in an organization need to have deep understanding of analytical techniques in order to make maximum use of it, which will help them to deliver maximum value to their customers.
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