According to Gartner, the world’s leading information technology research and advisory company, Big Data reached its peak towards the end of 2013. Does this mean that Big Data is out? No, not at all, it simply means it´s no longer a buzz word.
Gartner´s Hype Cycle is a graphical and conceptual presentation of the maturity of emerging technologies through five phases.
Their analysis claims that in 2014 Big Data slipped into the “Trough of Disillusionment”. After climbing the slippery “Slope of Enlightenment”, it seems Big Data has now reached the “Plateau of Productivity”. What does this all mean?
Understandably, there is always disappointment when expectations are not met, and since Gartner´s analysis is largely based on “industry noise”, it is no wonder Big Data may have “slipped off the chart”.
There will always be new buzz words and hype about the latest products and technology, but how many of them actually make it? Big Data is no exception.
Many Big Data projects overschedule, over budget and fail to return on their investment.
DATA WILL NOT MAGICALLY TRANSFORM BUSINESS. Basically the more data, the more complex the problems. As the creation of data is constant and exponential, it is no wonder that 90% of all the data in the world today was created in the last 2 years.
There are mainly three reasons why Big Data fails:
- The inability to operationalize results and the general failure in placing data into a business concept.
- The existing systems used to extract, transform and load the data into the data warehouse are unable to handle the new complexities.
- The product is not directly linked to a specific business goal or issue.
In all this so called adversity, Big Data has still managed to survive all the hype and has proved that it has the potential to become “the norm”.
It is important to understand data in order to make more informed business decisions and improve overall business performance. Big Data can lead to more accurate predictions and companies that managed to seize Big Data technology in its infancy, have most certainly gained a competitive advantage.
I agree that there should be a human element to process, analyze and obtain conclusions from the data, but there is no doubt that the IT Industry is moving away from the HIPPO syndrome (highest paid person´s opinion). There was a previous tendency to allow senior management to let their “gut feelings” trump data in decision making but this should no longer be the case.
Although I think we can agree that the Big Data Train has left the station, it´s journey most certainly has not come to an end…
PS.: Check out the link below for info on Gartner´s Hype Cycle. Thanks for reading this.