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Big data is an almighty big stick, but it can be a useless weapon

If the value of Big Data were based purely on the number of mentions the phrase gets in the media – or the frequency with which it is tossed around boardrooms – it would already be a billion dollar concept.

Put simply, the corporate world has fallen head over heels in love with Big Data. The potential insights it offers have encouraged many companies to amass and analyse huge quantities of data.

This is no bad thing. Used right, Big Data can help companies to reduce risk, reduce cost and identify new revenue streams.

But when companies use the wrong people do the analysis, and thus don’t use the data properly – or fail to act on the insights gleaned – the exercise is all but pointless....