When working on a big data project, it’s critical for companies to stay focused and understand the purpose behind what they’re doing.
Too often, big data projects suffer from aimlessness. Because of its trendiness, big data is an approach that companies may jump on without fully understanding why they’re doing so, and without carefully mapping out the scope of their projects.
What are the reasons behind your big data project?
If you don’t have a clear answer to this question, it’s possible that you haven’t given your project enough careful consideration. It’s also possible that big data isn’t the right approach for the particular questions you’re trying to answer. Maybe you need a different methodology.
The answers you give to the question of why should be as concrete as possible. What sort of data will you need to investigate the particular issue you’re looking into? What kinds of analyses will yield the most relevant and meaningful results?
Beyond that, and more broadly, you also need to ask yourself if the questions you’re looking into are worth investigating. In what ways will your big data project prove beneficial? For instance, do you expect to boost your company’s profits by a certain amount? Are you hoping to affect customers’ well-being, such as their adherence to medication or the efficiency with which you’re able to deliver treatments to them? You need to understand and justify the bigger picture of your project. You must understand its role in growing your company and strengthening your relationship with customers.
Furthermore, it’s important to consider what you’ll do with the data. Even if your reasons for the project are clear, ask yourself if you’ll be able to translate the insights from the data into concrete actions and solutions for your company. As mentioned in a recent article from PSFK:
With access to more data than ever before… companies need the right tools and processes in place to translate this data into actionable insights.
Big data has the potential to transform your company’s operations and yield key insights. However, without a careful approach, you’ll waste money on projects that yield few benefits or offer misleading results.
To hear more about how your company can harness big data and improve your overall digital strategy, be sure to attend Digital Pharma East, taking place October 24-27, 2016 in Philadelphia, PA. This year’s event brings together more than 800 pharmaceutical, biotech and medical device innovators who are implementing company-wide digital ecosystems to embed digital health across all channels to enhance customer experience. To learn more about this event please download the brochure or visit the website. Click here to register and be sure to mention Priority Code C649BLOG.