1. Understand the possibilities. Combining hundreds of dataelements and terabytes of data doesn?t automatically produce results. Businessanalysts and IT experts must understand how the data can be used and how it canbe mapped effectively.
2. Tap into IT systems that manage data and provide deepanalysis. There?s typically no single tool or approach that addresses anorganization?s needs. Enterprises require a portfolio of products, tools andcapabilities from different vendors, Tata consultant Kalyan Viswanathan says.
3. Build workflows and policies that facilitate the use ofbig data. An organization must define ownership and how different groups canaccess and use data. It must also develop ways to transform findings andresults into actual programs and initiatives.
4. Focus on security and privacy concerns. Big data createsremarkable opportunities, but it also creates risks. As different groups withinan organization use and analyze data, there?s an urgent need to ensure that theproper protections are in place.
5. Find the needed talent to put big data to work. McKinsey& Co. states that a talent shortage is looming in the data-analytics fieldthat could reach 190,000 people by 2018. Organizations that get a head start indeveloping internal expertise are likely to realize a competitive advantage.