Big Data is all the rage across many enterprises. The potential payoffs are compelling. For example, research out of MIT found that firms leveraging Big Data achieve, on average, 5-6% greater productivity and profitability than their peers. McKinsey calls Big Data a game changer for sales and marketing along with other areas of the business. But like anything else, getting the most out of data means knowing what not to do. Companies looking to extract value from their terabytes of data should make sure they avoid the following 6 mistakes.
Boiling the ocean
Big Data can be big work. It is easy to burn through a lot of time and cost finding insights that don’t materially address major business challenges like getting closer to customers or improving operational performance. One way to ensure value is to ask research questions whose answers will directly impact key corporate goals. This focused method…
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