The transformational effect promised by big data evangelists has convinced companies to spend millions on data science projects that are forever stuck in the proof of concept stage. This has left users drowning in “self-service data” they can’t really comprehend and “self-service tools” they don’t know how to operate.
Here’s the honest truth: Big data has terrible Return On Investment as it focuses mainly on data exploration science projects. 70 percent of Hadoop deployments made this year will fail to deliver either the expected cost savings or hoped-for new revenues. You can’t just buy tools for tools’ sake and expect ROI.
But you can put your data to work. Most employees tend to do similar things most days, simply because businesses are not large science organizations, but strive to reduce transaction and production costs through some level of automation. The key to delivering on the promise of big data is to make insights part of the production environment. Make your Chief Digital Officer (CDO) work for your CRO (head of sales)!
While machine learning tools can identify potential customers that will likely churn, the real ROI is realized when these insights get translated into actionable recommendations and delivered to your customer facing teams at the point of their work.
Join GoodData and Fourth to see how to truly operationalise your data, make it part of every business process and workflow and help your frontline workers make better decisions at scale.