In this great blog by Syncsort, author Mary Hiers posits that there is a dearth of big data going to waste due to the fact that companies do not have the processing capabilities necessary to get the true value out of Big Data. While it is true that many companies struggle with the collection, processing, and processing of Big Data, I think the real issue in “Big Data Waste” is not knowing how to operationalize the data analysis that business managers know they want. For a business manager, the availability of a new ETL tool is meaningless. Business managers are smart people, they know the questions to ask, and the general ballpark of the answers they want from those questions. What they don’t know is how to reach the answers or what to do once they receive the answers (Raw data.)
At Oversight, we speak every day with business managers who need the answers to the questions they already know to ask; questions around accounts payable, T&E, and purchase card transactions. Even if they had whiz-bang ETL solutions, they wouldn’t know what to do with them, let alone know to enable the solution to derive which of their 10,000 business travelers represent the greatest monetary risk related to compliance violations. SaaS solutions need to be comprehensive and user friendly. Difficult operating platforms lead to big-time big data waste.
The best technology solutions for business managers are those that package data analysis challenges into a solution. SaaS solutions (like Oversight Insights On Demand) address the technical side of the equation including extraction, transformation, and loading of data into the sophisticated algorithm of analytics designed to produce actionable answers to the questions these business managers have. Insights On Demand also makes it easy for these business managers to consume the results via easy-to-understand dashboards that show trends, risk, and appropriate action items. Oversight Insights On Demand is also one of the few SaaS solutions to provide an integrated case management system that allows end users to dig into the details of findings and inform action.
Ultimately, Big Data goes to waste when the “cure is worse than the disease” or when the cure isn’t even tried. By focusing on solutions that lead to actions, business managers can harness Big Data and avoid the distractions associated with Big Data tools, data science projects, and big data waste.