The dangers of “data drought”
Big Data is no longer a “nice to have.” It’s a necessity. When an enterprise neglects to capture and leverage its Big Data, here are a few of the likely consequences:
- Security breach or critical data loss – Did you know that the number of detected cyberattacks worldwide jumped 48% in 2014 alone? Without systematic processes for capturing, computing, backing up and protecting data, a security breach or critical loss is almost certain to occur. The average information security incident costs $720,000, and that doesn’t include the cost of losing customer trust.
- Obsolesence – As Big Data becomes a standard business tool, any enterprise without it cedes the edge to the competition.
- Compliance vulnerability – If compliance isn’t rigorously documented, your enterprise is at risk for regulatory issues.
- Costly inefficiency – Big Data reveals inefficiencies – and thus potential savings – in processes, logistics and more.
- Impaired decision making and missed opportunities – In the absence of Big Data, hidden patterns and emerging trends remain unseen. Not only will your enterprise lose the opportunity to capitalize on the information, your leadership will lack the complete, unbiased information needed to make data-driven decisions.
And what about solving self-imposed data drought? Many companies suffer from disparate databases that make it hard to analyze information that is related, but parked in different databases. EdgeData can bring that data together with the workflows desired, with patent protected technology that focuses on the presentment of aggregated data. Structured or unstructured, tiered or not, EdgeData can provide the workflows that combine the data you need.