Forrester: Ignoring big data will weaken competitiveness

Forrester estimates that, in general, companies use only less than 5% of the data they can get. It is also estimated that the data is growing at a 40%~50% rate each year, but the average enterprise captures only 25%~30% data. This means that large amounts of data are not being fetched and used, and that the gap is increasing over time.

Some companies have found ways to exploit data that might be overlooked. Some manufacturers have joined the "Big Data" corps, which has been abuzz with speculation. But Forrester thinks the future of the business may depend on your attention.

The data generated by customer-facing systems is a treasure trove of targeted marketing and retention insights-if your company knows how to get value from it. If you do not take any action to do so, you may be losing competitiveness with your opponents.

Forrester positions large data as a technology for dealing with extreme large-scale data. Large data contains three aspects:

-Technology and skills, which means your company needs to know who knows how to process data for value

-Massive amounts of data, due to the number, speed, variety and diversity that are beyond the reach of your existing technology.

-Economic value, or make a solution more affordable, helps you with your investment-specific business example

-CIOs need to take a pragmatic approach to big data. Set up a core of data monitoring mechanism, specifically for large data sets of special requirements. You may not have found and protected all the elements from hundreds of thousands of terabytes of large data.

There are no best practices yet, so we need to start with strategies and small work. Once you find the right business value, your project will take off quickly. Do not make overly complex rules, but need to act immediately.

(Responsible editor: The good of the Legacy)