Even with all the evolution big data and the internet of things has seen in recent years, a 2015 study concluded that the failure rate of big data projects is still around 60 percent. This high rate, experts suggest, is more likely human- or politically-based, rather than the big data technologies themselves.
In order to avoid project failures, what can project managers do?
First, ensure that your project is able to demonstrate the value of itself to both your managers and your end users without leaving them bewildered.
Beyond this, here are five ways to help improve your big data success:
- Never begin a big data project before first checking for cost reduction or ways to increase revenue.
- Make sure your stakeholders remain engaged.
- Don’t allow big data projects to go on for too long.
- Give your project time to show its results.
- Frequently conduct checks to assess your project for success.