Big data and data science can provide a significant path to value for organizations. These technologies, methodologies, and skills can help organizations gain additional insight about customers and operations; they can help make organizations more efficient, be a new source of revenue, and make organizations more competitive. Although many companies are still analyzing structured data, “newer” data sources such as text data, streaming data, and geospatial data are becoming part of an evolving data landscape.
This TDWI Best Practices Report examines organizations’ experiences with and plans for big data and data science including both technology plans and organizational strategies. It also looks at various big data challenges and how organizations are overcoming them. It examines the importance of new open source models. Finally, it offers recommendations and best practices for successfully implementing big data programs in the organization.
A unique feature of this report is its examination of the characteristics of companies that have actually measured either top-line or bottom-line impact with big data and data science. In other words, it explores how those companies compare against those that haven’t measured value.