Big Data is a game-changer that has already transformed specific business functions, and further applications of Big Data-driven analytics are expected to continue to take the world by storm over the next few years, utterly changing the way data is used and consumed. A huge number of companies today are sitting on massive amounts of data coming from multiple sources, including point-of-sale information, digital and social data, mobile/app data, financial data, research data and other information sources. There’s no denying that a combination of Big Data analytics and advanced technology produce incredibly powerful tools that can transform operations. However, at present, Big Data is still largely a potential revolution rather than a fully realized one. Many misperceptions about Big Data remain, including a mistaken impression that new tools make it simple to analyze enormous datasets. In reality, harnessing Big Data is still a very labor-intensive business. Here are five big misconceptions about Big Data:
