As discussed in previous posts on big data and data overload, an effective data management and analysis plan will make all the difference between actionable insights and information stockpiling. Data is vital and all businesses depend on it to make the right decisions going forward. However, there comes a time when the data becomes too much and you are faced with data overload.If you are in market research, you are constantly faced with the challenge of focusing in on the right segments of data. It can be hard to sort through the 2.5 quintillion bytes of data that is created each day by Internet users alone. Therefore it is important that you understand big data barriers.
First, there are three main attributes to describe big data:
If you do not have an effective plan in place to manage and analyze data, it can quickly escalate into data overload. Some common barriers experienced in market research include:
Despite the many challenges that come with data, the benefits of having an effective data management and analysis plan pay off. You will gain the visibility into your competitors, marketplace, and consumers--the visibility needed to position your business as a leader in innovation and consumer approval.
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