Many businesses have started to realize and understand the potential of Big Data solutions have to offer. With the every next person and businesses praising for Big Data, it is natural to think that much of it is exaggerated, but the reality is that Big Data can surely be transformative. Big Data has the potential to change everything we know about how companies and businesses are operated.
Big Data leads to helpful insights which in turn will lead towards better strategic business decisions. Management is that where every day new decisions are made, some small decisions some are relatively mundane, whereas others might be game changer for the company. This decision making has quickly be turned on its head with the introduction of Big Data.
Initially Big Data was looked up as a way to greatly enhance the abilities of decision making for management. It’s like if management is having more information on which they can take up their choices, they will surely be in a better position to make the right choices and this is been proven to be true in many instances at business all over the world. Companies have been using Big Data has intensely for discovering hidden insights, improved production, reduced waste and has increased product quality, let that be in any domain whether, manufacturing, healthcare, transportation and retail.
Does Big Data Erase the need for Management (Human) insights?
The technical challenges of using Big Data is a reality, but when it comes to managerial challenges they are even greater than it.
One of the crucial aspects of Big Data is its impact on decisions. How decisions are made? And Who will make it? When data is expensive to obtain or is unavailable in digital form it always makes sense to let the well placed people in an organization take the decisions, which can be best taken up by the experienced and well observed and internalized people.
For particularly some important decisions, the people are on a well reputed positions or are sometimes an expensive outsider brought in house because of his expertise in that subject matter. Many organizations in Big Data maintain their rule book that whenever any important decision is to be taken than they should rely on the expertise people.
The Management Challenges
Organizations will not always reap the full benefits of a transition to using Big Data unless and until organization’s are able to manage change EFFECTIVELY.
And some of the areas are particularly important in this process –
Organizations succeed in Big Data era not only because of more and better data, but because of their leadership teams who set the ways for clearer goal. Big Data power does not erase power of human insights. The successful upcoming successful companies will be the ones whose leaders can do all things the way their organizations make many decisions.
There are different tools required to handle the Volume, Variety and Velocity of Big Data and have immensely improved in recent years. However these technologies of combining commodity hardware with open source software which provides tools for analysing data. These technologies requires a skill set that is new to most of the IT department who need to work hard and integrate all relevant sources.
A successful organization is the one who puts the right information from data to get the relevant decisions in the same location. People who tend to understand the problems need to bring all together with the right data and with people with trouble shooting techniques which can effectively exploit them.
At the end of the day when everything is brought together and utilizes the resources whether that be “New Techniques” or “Human Insights”, in a fusion way, everything falls into place!