Data Strategy – Time to re-evaluate?
It seems a long time ago that the magic 3 V’s of volume, variety and velocity was unleashed on the world to describe the evolution of data organizations were about to see. In fact it has been a whole 17 years since Doug Laney first used the term.
The story was that we needed to get ready for a new wave of data. We needed to be ready to store more data, take data that might not look like we had traditionally from operational systems (such as textual unstructured data) and handle data arriving more quickly. This was in the web era long before mobile and social took off.
Then we had the Big Data storm where all the V’s got bigger, faster and more diverse. Social Media had arrived and the use of external data to help make decisions was on the rise. I went on record at the Gartner summit in 2014 saying I thought the buzz word would die out. It turns out it is still around but we hear it much less frequently nowadays.