What is Fat Data?
Nowadays, large companies tend to boast about the sheer size of their Data Lakesdata repositories where all structured and unstructured data at any scale are stored.
This is due to the trend to possess large volumes of data to produce increasingly accurate and reliable predictive models in order to offer the most personalised service possible and to anticipate what might happen to drive the organisation's strategy and innovation.
According to a Forbes survey, the obsession with accumulating data and more data without a well-defined strategy has led to 68% of companies employing data analytics not yet achieving success. This survey shows that companies holding more than 100 terabytes of unstructured data has doubled since 2019, and the problem comes when the vast majority fail to process it properly. All this raises doubts about whether all the data held in the organisation is real. These companies could be victims of so-called Fat Data.
Why is Fat Data harmful to your company?
The irrational accumulation of data carries serious dangers for the organisation. Much of it is obsolete data. Hence, this term has come to be known as 'fat data'. These are layers and layers of information that can block the data system.
Information is power, but accumulating data in an unstructured way and without aligning it with the business strategy can lead to the emergence of "Fat Data". Big Data is based on storing large amounts of data in order to make better decisions and Fat Data is all the accumulation of unstructured data that does not bring any value to the company.
Quantity is not synonymous with quality when storing data. The challenge lies in identifying what data is most valuable and defining what data is needed and for what purpose. The accumulation of Fat Data can create serious problems in the organisation:
- Waste of time in finding and analysing data
- Making the wrong decisions
- Unnecessary costs
- Serious economic losses
- Mediocre customer service
The bigger the "Fat" in your data, the more likely it is that these problems will appear.
At Bosonit We have specialised teams that deploy data solutions to ensure a data-driven approach in companies, assessing the quality of the data incorporated, improving the user experienceThe new system, providing greater adaptability so that information can be personalised, and, ensuring the quality and ongoing maintenance of clean, accurate and reliable data.