It may be difficult for businesses to understand the importance of big data for their business, especially when it can be difficult to quantify the ROI (return on investment). However, there’s plenty of evidence to support the idea that companies that use big data see a huge ROI. Just look at this article published by Datanami. A survey was conducted by Teradata and they found that 2/3 of companies reported substantial big data ROI, while 1/3 were still looking for the ROI.
The VP of Product and Servies Marketing for Teradata told Datanami that, “It’s not just, ‘Lets go buy some technology deploy it and it’s great.’ It’s about being able to build data into the DNA of the company, which means you have to deal with people and process and technology, and build a culture to adopt it.” (source). This is an important distinction that companies looking for ROI in big data need to realize. Data analytics isn’t a magic cure-all that’s going to fix all of your problems without effort. Even with a great analytics tool, like Pushgraph , companies still need to work with the data and build a culture of data adoption.
While this is a hard topic to quantify, we at Chalklabs believe we’ll be seeing big growth and continued reliance on big data, across industries and uses. This isn’t a quick trend that will fall by the wayside. It’s definitely going to continue growing, and it’s up to companies to stay on top of it and use it to their advantage.