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Big Data, How Can You Nurture Yours?

In a time where we produce terabytes, perhaps even petabytes of data, it is essential that businesses employ an organised infrastructure not only to simply withhold the vast, sometimes unfathomable data imports, but also in order to make the most out of it.  With this big mass of data comes the even bigger problem of deciding what is worth investing, maintaining, organising and finally, converting. To obtain this internal organisation, there needs to be a high-functioning level of data classification which prioritises and orders data on a level of importance, relevance and type, in order to distinguish it quicker.

However once you’ve prioritised what’s invaluable or even perhaps valuable data for you to obtain, you might also want to consider what is likely to be highly valuable to the obtainee. Data handling can be incredibly risky and if leaked into the wrong hands can be fatal. Therefore you need to act responsibly in your efforts using and disregarding data, otherwise you could find yourself in the hands of a court battle.

Now, with clearer guidelines however, technology users are more aware of their private data being passed on to third parties. According to  vice president of ebay, Zoher Karu, the days of one-way data sharing are over. He states: ‘consumers are willing to share if there’s value returned. One-way sharing is not going to fly anymore. So how do we protect and how do we harness that information and become a partner with our consumers rather than kind of just a vendor for them?’

Well if you’re actually using your data to benefit your users, then the exchange becomes more fairly balanced. If your data can help you provide tailor made products and streamlined bespoke technology to satisfy the needs of your consumer, based on their own consensual data then you’re onto a winner. To put it bluntly, if your consumer is willing to provide you with their data, then they should, and will expect an advantage from it.

Where to start? Whether you’ve started off with a small pool of data, or you’re battling with more data than you can shake a stick at, management and organization is key at all stages. There are a number of different services and solutions at hand which can ensure that your data is stored, filed and utilised efficiently at your fingertips.

If you’re a leading research and development business, you could benefit immensely from IDBS’s data solutions. Focussing specifically on scientific data, their biology eln is a fine example of refining your products to manage your exact data needs. Whilst easing the initial transitions into a paperless environment and combining preexisting data with a new data workflow, the notebook has been designed to support big data management by generating reports, not by the minute, but by the second! It could otherwise take light-years to collate big data, making it completely and utterly worthless to any mortal.

Investing in a data management device however should be one of the final stages when considering your big data collation strategies. Before using any device you should have implemented a process of elimination and prioritisation to ensure that the data you are collected is, useful, legal, resourceful, responsible, and able to convert into successful results for both your business and your consumer.

If you have any insights on Big Data management, comment below and get the conversation started!

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