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Much Interest in Big Data, But There Are Fewer Companies Investing In It

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Read Time:4 Minute, 15 Second

The big data has become a crucial element for companies. Companies have to be able to accumulate data and use them in the best possible way to achieve better meet consumers make better business decisions and be able to anticipate the needs of its customers and requests that they have service and new products. The data have become a sort of element that can make the success or failure of a company and its strategy.

But the data are not available to everyone, or at least that’s what it seems at first glance. Large companies, those questions both muscle and reach, manage to accumulate much more data are in a more privileged position than that occupied by the smaller companies that do not have easy access to information and they do not have so easy to accumulate data.

It is a somewhat logical question. As the size of a company grows, so does its potential number of customers and their actual customers, which makes potential data at your fingertips are much greater and the possibilities that can develop when playing with the data being even higher.

The issue is not limited to data and possible have access to, but also is marked by another element, the monetary. In order to succeed in the world of big data, brands have to make a prior investment. Expenses are varied and touch many areas as companies need to sign specific talent, they need to make an investment in technology infrastructure because, even though the cloud has made the least expensive prices, brands need room to store all that data and need, also, the technology required to read and manage these data.

The investment has grown, but not interested companies

All this means that despite everything there is a border between those who can and who are unable to take benefits of big data. There is more to look at, in fact, the latest study by Gartner on the issue to see it. The overall grows of investment showing that this tool has great potential for businesses.

What do the numbers say? As noted in the findings of the Gartner, investments in big data continue to grow (although starting to show signs of shrinking market) and, although investments are on the rise, the number of companies willing to invest in this tool is going down.

Overall, 48% of companies have invested in big data for 2016, representing an increase of 3% over the previous year. If you look who plan to do so in the near future, things are not so buoyant. The percentage of companies planning to invest has risen from 31% in 2015 to 26% in 2016.

The key is what

Why they have decided to reduce their investment and not as enthusiastic as in the past? The key may be in the technology itself, paradoxically. “The investment in big data is growing, but the study shows signs of a slowdown with fewer companies considering investing in the future,” says Nick Heudecker, research director at Gartner. “The big problem is not so much data as to what use,” he says.

That is, the brands have understood everything you have told about how important the data, but once you have passed that stage, have been stalled. They do not know what they are these data and how to use them. “Although companies have realized that the big data is not just about a particular technology, need to avoid thinking about the tool as a separate effort,” said Nick Heudecker. The marks are still in a kind of nebula, in which they know that the data is good for some things, but they have nothing clear yet general use and, above all, how they can integrate it crosswise.

Companies should make a holistic approach to efforts but have not yet managed to cross that border.

Brands are stuck in the pilot phase

Perhaps for this reason, brands have been stuck at the beginning of the story. Companies have been in the early part of big data and have not gone beyond, have failed to leave the beta. Three-quarters of the companies surveyed by Gartner are, in fact, investing or have invested in big data, but most are still stuck in the pilot development. Only 15% have come up with the production stage and only 14% have a strategy and implementation so solid that has not had to change it in the last year.

And like a snake biting its own tail, all these realities are closely related. This impacts all of the above and this happens because the marks are not prioritizing data as well as other issues the big. Only 11% said that their investments in big data are as important as or more important than the rest of the investments made in IT. 46% puts them on a lot of the less important.

The fact that they may not see a clear ROI of this investment (again, cause and effect at the same time all these movements and adjustments) makes companies are even less enthusiastic in their spending on big data.

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6 Rules to Building a Simple, Elegant and Sustainable Service-Based Business

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Read Time:4 Minute, 14 Second

On developing YOUR unique expression through business to reflect an elegant simplicity with depth and meaning.

1. Be Nimble

Take a page from the tech startup playbook, and adopt a “Rapid Prototyping” mindset.

You’ve gotta start somewhere, and you won’t know until you take the action, see the results, and learn from real reactions from real people.

Don’t chase your tail in circles, waiting for all those marketing exercises to look perfect. Stop thinking if you get the approval of some business coach, your business will be bulletproof.

Hone in on your genius by doing good work… and see where you excel.

Be willing to pivot. Commit to excellence, not convenience.

Don’t get too attached just because you’ve invested time and money in some training or certification. Everything builds up to a final expression that’s uniquely yours because you’re bringing to the table a one-of-a-kind combination of skills and experiences.

2. Don’t Spread Too Thin

We’ve been told a million and one things we need to “fill the funnel” – the freebies, the tripwire, the eBook, the online course, the big group program, the small group program, the private coaching, and the live event.

When those coaches break up the numbers and show you how to get to “6 figures,” it sounds pretty darn good… if you can do 7 things all at once.

Yet, chances are, you’re not a genius in delivering every single format. You may suck at some and drag your ass on others… people can smell it miles away if you aren’t excited about it.

If it’s just something to check off the list, don’t do it.

You don’t have to fill up every single “rung” of what a “business model” should look like. You don’t have to offer everything everyone is selling.

You need to find the expressions that allow you to be in your zone of genius as much as possible. And get unapologetically good at it.

3. Redefine “Leveraging”

What about “leveraging?” You may ask – because that’s another irresponsible sound byte so many are tossing around.

Irresponsible because it’s defined rather narrowly in most cases and often send us down a rabbit hole.

Think outside “leveraging = 1: many” box in the form of digital products, online courses or group programs.

(Note that you have to invest time and effort to create those content before you even get paid… there’s always an opportunity cost. Is it the best way to spend your time and genius? Have you done the work to make sure you don’t hear cricket when you launch?)

Leveraging can just simply mean that you hone your skills, get amazingly good at it, articulate the value and relevance so you can charge a premium.

4. Forget “Charge What You’re Worth”

This is my big pet peeve.

Don’t tie your self-worth with what people pay you… so disempowering.

I’ve heard coaches being told in whatever training that they’ve to charge some crazy amount per month (even if they’re just starting out)… otherwise, they’re not doing it right.

Stop.

Before we talk number, let’s talk what the number is about.

It’s about what you bring to the table. It’s about how you create meaning and deliver value.

It’s about whether you can say it out loud with confidence and conscience.

Your fee is only as good as what people are willing to pay – and it depends on how confidently and genuinely you can articulate the value, and do good work to deliver above and beyond your promise.

Those who charge $10k a month, and make it worth every penny and more, didn’t start there. They deliver, and they demand a fair exchange for the value they create for their clients.

Get to work. Don’t put yourself on the pedestal. Put yourself in the trenches.

5. Get Out Of the Bubble

All the coaching, programs, and training are putting us in the echo chamber.

It took me almost a year to detox so I can hear mySELF think.

Do what’s right for you. Don’t get sucked into sound bytes and rhetoric.

We’re seeing a backlash to all the sales messages, online courses, and coaching program in this space. When everyone wants to sell you something that sounds just like the next guy, the market gets jaded, skeptical and resistant.

You need to be surer than ever what YOU and your business need at this moment before investing. It’s not “if you’re unwilling to invest in yourself (and whip out the credit card now) you can’t expect others to invest in you” rhetoric – which is selfish, fear-based BS.

It’s not just the money. It’s the TIME and mental space – if you spend time and mental space on one thing, you won’t have it for others that actually matter.

6. Be Honest With Yourself

At the end of the journey, YOU are what matters.

Enough asking your Facebook group buddies how to make your decisions. Don’t be intellectually lazy. Take responsibility.

Most people you meet along the way will eventually fall off – what you do needs to be meaningful to you.

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