The promise of a Big Data enterprise is enticing. For companies that have successfully implemented Big Data strategies are seeing big payoffs.
Despite its promise of enabling seamless customer views and creating tangible business results, many marketers and customer experience leaders today are stymied by their data. Rather than quickly acting on data across all business units, numerous leaders have information overload when it comes to capturing, analyzing, and acting on Big Data.
In today's feature, "Delivering on Big Data's Promise," Judith Aquino talks to companies like AeroMexico and M.Frederic, which are transforming their companies through Big Data. Here are three additional pieces of advice for creating a Big Data game plan that gets marketers moving.
Inventory and classify your existing data.
Every organization has Big Data, but many organizations don't see the value from their Big Data efforts because they're not extracting the right data or the complete set of data. Data architecture team must first establish a plan to first source the desired data--structured and unstructured--to reduce redundancy and create a standardized path to the most critical data in your firm. Then create a classification taxonomy to tag data in terms of relevance. It may seem like a good idea to classify and tag everything but experts warn against that practice. Instead, choose the most frequently used data and sensitive data (customer, employee, account, etc.)
Access workflow and develop a change plan
After classifying the data, ask yourself what workflows will be impacted by the changes brought by a Big Data initiative, document these processes, and understand how they will change. One of the most common scenarios within companies is that Big Data is limited to departments.
Ask yourself if you have access to all the data you need, or do you need to collaborate with other departments to integrate data? Consider your options for combining data from multiple sources and start tearing down those data silos. The IT department should define the integration, set up data warehouses, and synchronize repositories.
Create an information governance plan
Big Data plans can often disappoint when organizations lack the right people and capabilities. Companies need a road map for assembling the right employees who will thrive in the new data-rich environment. In this case, it's important to focus on the new organizational skills needed for effective implementation and determine who will have the ability to access and analyze specific data sets.
When a plan is in place, execution becomes easier. Over time, of course, you'll adjust the initial plan. Indeed, one key benefit of having a Big Data game plan is that you can learn things about your business that you simply couldn't see before.