With every innovation in the world of big data and analytics, corporate IT departments dive into new contracts with vendors to stay ahead of the competition. This is only natural, considering that the cost of collecting and maintaining data is one of the heaviest cost centres on a CIOs balance sheet.
But, in a world where F.O.M.O., the fear of missing out, is guiding decision making, it’s easy to get suckered into a bad deal.
Thankfully, more and more is being handled internally by corporate data scientists. Hadoop completely changed the way we store and interact with data – significantly lowering costs. And the more manageable data becomes, the more we’ll be able to reduce reliance on external contractors.
But, there’s one significant advantage to utilising outside contractors, even if your internal team can handle the nuts and bolts of data management. By working with outside vendors, you gain access to fresh perspectives, innovative sources of new data and cutting-edge concepts.
And no, using a qualified outside vendor does not constitute a data security risk. I hear from c-suite personnel that they worry about trusting their information to an external vendor. There are a ton of easy steps you can take to limit your …