The opportunity to harvest insights from big data, much of which is marketable or can generate income, is obvious gold up for grabs, says Mervyn Mooi, director at Knowledge integration Dynamics (KID).
Besides that, the transition of data or information from a localised operation to the cloud has huge cost reduction benefits for both small and large companies. The wealth of information at hand immediately empowers users and complements and facilitates business processes. These are factors of which organisations, consumers and marketers must take cognisance.
For those who have geared for big data, the benefits have become a reality, whereas those who lag still have some investment to make. For the non-conformists, like those who are not leveraging big data, the future might be gloomy with respect to quickly discovering new insights, trends and opportunities.
However, managing big data as an asset comes at a cost, whether it is stored locally or in the cloud. As more and more services are provided in or from the cloud, the price tags for information and other resources gradually become unaffordable or non-viable to many, especially those who have no focussed exploration or legal right strategies, called usufruct.
Big data certainly has both positive and negative implications for businesses across the spectrum.
Besides that, the transition of data or information from a localised operation to the cloud has huge cost reduction benefits for both small and large companies. The wealth of information at hand immediately empowers users and complements and facilitates business processes. These are factors of which organisations, consumers and marketers must take cognisance.
For those who have geared for big data, the benefits have become a reality, whereas those who lag still have some investment to make. For the non-conformists, like those who are not leveraging big data, the future might be gloomy with respect to quickly discovering new insights, trends and opportunities.
However, managing big data as an asset comes at a cost, whether it is stored locally or in the cloud. As more and more services are provided in or from the cloud, the price tags for information and other resources gradually become unaffordable or non-viable to many, especially those who have no focussed exploration or legal right strategies, called usufruct.
Big data certainly has both positive and negative implications for businesses across the spectrum.