"People don’t know it’s there, don’t know how to access it, aren’t allowed access, or the systems haven’t been set up to leverage it yet," Rouda explained. It crops up "all too often" in databases, data warehouses and data lakes, he said.
Such restricted or poorly documented pools of data are often referred to as the "dark web." Bringing them to light is generally the domain of data-discovery services, often using machine-learning algorithms, Baer said.
6. Dirty data
Last but not least, "dirty data" is nowhere near as fun as it sounds. Rather, it's simply a data set before it gets cleaned up.
"A matter of nature is that things are dirty until you clean them," Baer said. "Unless you've performed some operation on it, data is not going to be clean."
Those operations can include preparation, enrichment and transformation, Rouda noted. "Otherwise a lot of wrong answers are possible."
One more thing...
Using data to grow your business is a lot more than just understanding the lingo.
"There's a gap between all the data that has become available and our ability to use it for insight," said Brian Hopkins, a vice president with Forrester.
Bridging that gap could be a matter of using Hadoop, or it could be accomplished through simple self-service tools, Hopkins said. Either way, it's the link that has to be made in order for meaningful action to result.
"Vendors and analysts are great at creating new buzzwords," he said. Rather than getting bogged down in terms, "my advice for CIOs is to stay laser-focused on outcomes that will transform your business."
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