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Big data represents big opportunity and big risk, said SAS thought leader Anne Buff in her thought-provoking keynote at Data Summit.
In her talk, which covered how big data is causing a big shift in three areas - people, process and technology, Buff gave examples of the rich opportunities for greater customer insight that can be achieved as well as the pitfalls lying in wait for companies that fail to use their data wisely.
From data breaches to marketing campaigns that border on creepy, there are endless ways for companies to get into trouble. And, she added, there is a thin line that should not be underestimated between greater customer insight and segmentation vs. discrimination.
But, whatever you think of the overused term big data, the benefit is that the buzzword has finally caused data to get the eyes and ears of executive management. Forget about the 3 Vs – velocity, volume and variety, she said. What management cares about is the big P – possibilities.
Organizations now have the ability to connect information in ways never before possible, enabling greater awareness of customers as well as competitors. In this new data-drenched arena, the enforcement of data governance rules will become more important than ever, said Buff.
A video of Buff's Data Summit keynote is available here.