Analyzing the potential of big data: A tutorial for business and IT experts

Abstract

Recent studies report that many Big Data projects fail due to insufficient alignment with the organization’s strategic objectives and no consideration of its operational capabilities. Our method for the analysis of the potentials of Big Data supports companies in making a rational decision to use Big Data as well as in systematically conceptualizing and realizing a specific Big Data strategy. The Potential Analysis helps to find a Big Data solution for a specific business innovation idea that promises to deliver the best trade-off between the potential business benefits and the investments required for deploying it. The development of a suitable solution happens in several iterations during which both the anticipated data-driven business solution and the required Big Data solution concept are revised. This tutorial addresses experts from business and IT. The participants will learn a systematic approach for developing a company-specific Big Data strategy.