Data has become a strategic asset for most organizations. The capability to analyze large data sets and discern patterns in the data can provide organizations with a competitive advantage. Netflix, for example, looks at user behavior in deciding what movies or series to produce. Alibaba, the Chinese sourcing platform, became one of the global giants by identifying which suppliers to loan money and recommend on their platform. Big Data has become Big Business.
In order to achieve tangible results from investments in Big Data, enterprise organizations need a sound Big Data strategy. How can return on investments be realized, and where to focus effort in Big Data analysis and analytics? The possibilities to analyze are literally endless and organizations can easily get lost in the zettabytes of data. A sound and structured Big Data strategy is the first step to Big Data success.