Is your federal organization struggling to use data to affect business outcomes and drive insight into day-to-day decision making? You’re not alone. Research indicates that organizations only use 12% of the data they own, while poor data quality costs organizations $13.5 million per year.
To move from data chaos to actionable insights, more organizations are turning to big data platforms, creating “data lakes,” or centralized repositories that store large amounts of structured and unstructured data. By bringing together vast amounts of data, organizations can now correlate activities in one part of the organization to effects in another, aggregate disparate siloed databases, and reduce overall operations and maintenance costs.
Implementing a big data platform is not without its challenges. For example, using proprietary analytical tools can mean organizations get locked into a one-off solution that doesn’t integrate naturally with their big data platform. As they navigate this and other challenges, federal agencies may have misconceptions about what big data platforms are, what they aren’t, and how to use them effectively.
Here are 5 myths of big data platforms for government organizations—and the reality.