The most popular and comprehensive Open Source ECM platform
Let us know more
Big Data: Data-First Philosophy Enables Businesses to Think Before they Act
Data First is a philosophy of using data as a guiding factor in all business decisions and actions. Advances and successes in Big Data and analytic technologies have businesses clamoring to try it out.
Pedro Cardoso, technology consultant, identified three phases to a Data-First approach: assess, improve and control.
Central to the Data First movement is the ability to assess the nature of a problem by gathering as much data as possible about the problem domain. Data combined with analysis and profiling can help businesses fully understand issues and risks. During assessment possible solutions or courses of action can be defined and mapped out.
During the improve phase the solution plan derived from the results of the assessment is developed, tested and rolled out.
During the control phase the solution is maintained and monitored.
Randy Bean, CEO of NewVantage Partners, wrote a piece for the Wall Street Journal where he identifies four principles of how Big Data is enabling a Data-First mindset:
- Big Data is driving self-serve business analytics
- Big Data is thriving because of cheap storage and processing power
- Big Data encourages discovery of new insights via rapid analysis and a foundation for testing models
- Big Data works best when decentralized access is wrapped with lightweight data governance standards
