IDG Contributor Network: Data hoarding is not a viable strategy anymore

For years it has been normal practice for organizations to store as much data as they can. More economical storage options combined with the hype around big data encouraged data hoarding, with the idea that value would be extracted at some point in the future.

With advances in data analysis many companies are now successfully mining their data for useful business insights, but the sheer volume of data being produced and the need to prepare it for analysis are prime reasons to reconsider your strategy. To balance cost and value it’s important to look beyond data hoarding and to find ways of processing and reducing the data you’re collecting.

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Source: Network World