What’s the ROI on Big Data?
I hear that question and I cringe. You might as well ask:
- What’s the ROI technology?
- On making better decisions?
- On developing new customer insights?
There are no accurate or great answers to questions like these, and I can build a model that can show astounding results. That’s all well and good, except that model will be wrong.
Think about it. Let’s say that both Company ABC and Google both deploy the same new Big Data solution. By definition, the “ROI” that each company realizes by developing or deploying the same solutions will differ. Ditto hiring data scientists, using gamification sites, and the like.
All companies continually build on what they have created. Just like platforms, Big Data is additive. Don’t let anyone tell you any different. ROI estimates should be taken with a 50-lb. bag of salt.
What say you?