Big Data is complicated. Why complicate it further by thinking of it as an “Information Value Chain?” Because the Information Value Chain makes Big Data simpler.
Traditional approaches to Big Data focus on how to collect and store data, and often how to present it. They leave out how to use it and what value it is to deliver. This is a critical omission. If we don’t specify how we expect our “Big Data” to be used, and what value it is to deliver, how can we expect to collect the right data, or turn it into the right information? We can’t.
The central message of the Information Value Chain is to see our information systems as part of a sequence who’s end result is action that delivers value.
When Fraysen does systems analysis for a Customer, the first thing we write on the right hand side of the whiteboard is a “$” sign! Then we write the actions that will deliver that value. The we write the decisions that lead to those actions. Now we can write who (or what!) will make those decisions, on what timescale and what information they will need to make them. Then, and only then, do we know what data to collect and how to process it.
Try it yourself! We have found this approach moves Big Data from a “nice to have” to a compelling business tool with clear purpose and value. Isn’t that what this is all about?