Expensive Myths About Big Data

Dateline: October 20, 2017

Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.

In a world of increasing dependence on data and the data-driven decisions that result, there are still many misconceptions that can send managers off in the wrong direction and cost an organization big bucks.  Mark Wilczek, a digital strategist blogger, recently wrote a blog about the Five Big Data Misbeliefs that Could Cost Organizations Millions.  He suggests,

Here are five misbeliefs about big data that many organizations cling to. They can convince a firm to invest funds where they shouldn’t, or not invest where they need to.

#1: More data delivers greater value
#2: Cloud storage is ‘free’
#3: All data is equal
#4: All users are compliant
#5: We’re safe and don’t need to prepare for a data breach

Which of these myths does your organization believe?  How can you make sure your leaders don’t fall into one of these traps?

That’s a WRAP!  Have a great weekend!

Speak Your Mind