MANAGEMENT KEY BEHIND BIG DATA

In last couple of months I have writing extensively on Big Data management and its evolution in the industry. In my recent research I find that consumer companies who are the king of the ‘Big Data’ market are having various problems in using and implementing the data management process within the organization core skills. Consumer companies are finding difficult to implement the big data analysis through their cross border human culture. Finding the right people to implement the same is the biggest of all challenges which is faced by the consumer companies. Switching the business culture into data centric analysis approach is a critical task for the origination.

Reporting of the data analysis and making decision out of stands to be another big challenge for the organizations. Since the data analysis is not decentralized process and more of a centralized process which leads to the debate of making the reporting to the CEO of CFO of an organization. Much of the reporting system designs the fate of type of data analysis to be carried out from the big data analysis. Moreover quality of manpower decides the process of implementation of the analytics. Cross border or same country geographical differences creates challenges for the management to utilize the big data analysis. If the manpower is not able to concept the gap between the big data analytics then company faces one of the strongest hurdles to compete in the market. Moreover when the data analytics report says to discontinue one product and run another one the tussles of interdepartmental begins which further hinders the growth of the organization from the Big data analysis.

Further I find that big data analysis requires creative questions so that efficient utility can be achieved from the data usage. Old process of analysis to drive only sales and revenue is not going to work in the growing competitive market. Taking advantage of the insights is going to be key decision making ingredients for the successful implementation of the big data analysis. In my recent case study I found that Nokia uses its data analysis efficiently in product designing. Nokia uses its low cost handset data usage in emerging economies to find the internet users over its phones. The design the products accordingly and not very keen in the smart phone race but are focusing on niche segment of first time users of phones in the market. At the same time I find there is an huge lack of ‘Big Data’ analytics in the market. Well in short this is one difficulty is that the underlying business processes have been long established and represent a barrier to change. This creates pressure on the investment aspect of the organization and places substantial responsibility on the CFO of the origination to make the decision of rightly. Well I find there is a substantial blockage in the Big Data analysis. The challenge becomes herculean when such as developing new product lines or new business models through Big Data analysis. That’s the reason why raised the question about reporting of Big Data analysis.

In 2011 McKinsey & Company, a consulting firm forecast a shortage by 2018 in the US alone of 140,000-190,000 people with deep analytical skills, as well as 1.5m managers and analysts able to make effective decisions based on big data. In late 2012 Gartner, a US-based technology research company, predicted that some 4.4m IT jobs alone would be created globally by 2015 to support the advent of big data, well globally the number is too big and in an country like India its an huge opportunity for midsized IT companies to grow their business. But only data analytics would not help, one needs to have an in-depth knowledge about the functioning process of the industry and its futuristic growth models then only one can finds proper analytical reports. At Dabur, for example, the company created a dedicated data team about a year ago, comprised of senior sales people with a technology oriented background. The key advantage is the specific business and industry knowledge that these teams bring to the task.

Well the key metric over here is the place to seek to gain an edge from the data collection, and the ability to get more creative in how the companies mine it, and the kinds of patterns can be uncovered, will be crucial to their ability to reveal new product categories, or customer service initiatives for these companies. Thosee organization  who are more actionable proper policies are required for successful implementation of Big Data analytics.Those who can properly adapt to a data-centric world will increasingly gain competitive advantage from it.