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If you are regular user of internet then you must have heard a lot of facts about Big Data & analytics. Most of the facts over the internet about Big Data may be true & similarly there are several myths that somehow keep making the rounds within organizations and around the internet. In this blog post let’s discuss about a few of the key myths in Big Data which we hear often.
Unveiling The Top Big Data Myths-
Big Data Is Only For Big Companies
Most of the people are of the thought that Big Data & Analytics are only for companies that have big budget, big teams & that are working across big platforms. Thus is just a myth without any reality. Big Data initiatives are as valid for a small company as they are for the world’s largest companies.
Compared to the large organizations the amount of data provided by small organizations is limited. This doesn’t mean that there will be a different approach for analyzing & extracting the information from the data. The same set of analytics models & techniques are used & the only difference lies in the objectives & goals of the businesses.
More Data Is Better
Most of the people are of the assumption that more data leads to better results. This is just a myth & it’s always reliable to invest in good data management than trying to collect more & more data.
In the quest for accurate insights, collecting enormous volumes of data wouldn’t simply justify the actions. Adding more data isn’t always the answer. We shouldn’t overlook the fact that better accuracy leads to less trustworthy models as there are high chances for the model to be over-optimized for. As data increases it becomes complex for Data Scientists to precisely clean & analyze the data.
So in most of the cases, it’s always ideal to invest in good data management system than from investing in more data.
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