Breaking down Big Data myths

There are mixed views on whether companies are keen to use the term Big Data to describe data mining and analysis, according to two IT experts.

While some companies are overenthusiastic with labeling all new data uses as Big Data, Tibco’s Chris Taylor said some of his customers are taking the opposite approach and avoid the label as they think it’s too limiting.

His colleague Matt Quinn said Big Data isn’t a concept that has emerged from nowhere; rather it has developed organically from decades of businesses picking and choosing data as a basis for making decisions. Quinn said Big Data’s three V’s – volume, velocity and variety – is a bit of a misconception as there has always been variety and volume. According to Quinn, the big difference is we now have velocity i.e. the ability to manage and mine data.

Quinn advises that rather than rushing to adopt technologies to mine data, executives should take a step back and analyse the important questions which needed answering but seemed impossible and launch from there. As important as finding the answers is the next step and putting it into operation.

Taylor and Quinn will take an in-depth look at Big Data myths and decision making at the Interop Las Vegas conference in May.