Introduction
In rapidly growing corporations, organizations, companies, and businesses there is a concomitant increase in the size of data generated daily. An increase in the size of data generated directly increases the amount of data handled and required in different departments of the institution, company, organization, or business for marketing, planning and budgeting, decision making, report writing, or research work. Although large amounts of data in any organization are of exceptional importance in policymaking, it comes with some accompanying problems. Problems of large data storage, insecurity, and inaccessibility are among other problems that accompany large data creation. These problems call for restructuring and improvement of the IT departments for the effective management of data. The restructuring involves acquiring new technology and equipment, which may be expensive but on the other hand, creating job opportunities for the IT technicians acquired. Thus, what are the problems and opportunities created by too much data in organizations, and which is the best way to handle such data?
Problems of Too Much Data
The generation of a large amount of data or information in an organization sets up a storage problem. Such a large amount of data comes from email, invoices, price lists, ordering levels, checklists, and pick lists among many others. Data storage and retrieval are two crucial processes of handling data, and they significantly determine the validity and versatility of information in an organization. According to Conole, White, and Oliver “…no matter how expensively the data was obtained, it is of limited utility if it cannot be retrieved speedily and effectively” (2007, p.122). Since data retrieval substantially depends on storage, poor storage leads to delayed retrieval or total loss of the data, which ultimately affects the utility of data in the generation of useful information in an organization. The problem of data storage escalates when the data obtained is not in a uniform format, which calls for sorting before storage. Such a process might be cumbersome, time-consuming, and expensive. Moreover, large amounts of data require electronic data storage devices and improved technology for effective storage and easy retrieval. Hence, for organizations to utilize a large amount of data effectively, they should have efficient storage and retrieval systems that have enhanced capacity to cope with an increasing amount of data.
Data insecurity in case of handling large volumes of data becomes a significant problem calling for attention to ensure privacy; otherwise, secret information about the institution, organization, or business can easily leak. With the electronic data storage devices, especially the removable discs, theft of data becomes easy and therefore, security of the data is of paramount importance to protect the data from corruption or destruction by malicious hackers. According to Oliver, “disk encryption prevents unauthorized access to data storage” (2003, p.26). This technology has largely alleviated the insecurity problems, and with the availability of encryption tools in the market, data insecurity has reduced significantly.
Moreover, the management of a large amount of data is extraordinarily expensive because it requires experts, training, and data systems. It is extremely expensive to acquire experts or train personnel who carry out data analysis, storage, retrieval, and utilization of organizational information. Effective management of information also requires modern data systems that process a large amount of data quite effectively, thus demanding the acquisition of extra and expensive equipment. Since the information in an organization is increasing proportionately, it is reasonable to provide updated data systems that can cope with increasing volumes of data, which is a serious problem in upcoming organizations with conventional data systems. Thus, it is unreasonable to limit a certain amount of data as the right amount because organizations need a large amount of data to grow and develop. For efficiency in both the goods industry and service industry that handle a large amount of data such as in the insurance and actuarial system, improved technology plays a vital role. Therefore, improving data systems to accommodate the ever-increasing volumes of data and acquiring trained personnel remains an expensive process that companies or organizations should bear.
Opportunities Created by Too Much Data
Even though large volumes of data have problems, they have opportunities. For instance, little data require minimal technology, but large data need high data technology. Wickelgren observes that “the problem of large data increases when the data are not of the same format” (2009, p.1651). The creation of a standard format enhances the processing, storage, analysis, and retrieval of information. The problem of standardizing data provides an opportunity for IT specialists. The IT specialists play a significant role in processing, analyzing, storing, retrieving, and utilizing large volumes of data in an organization. Although IT specialists are expensive to employ and maintain, they provide useful information that organizations use in formulating and implanting their policies.
With the vast amount of data aggregated today, other study subjects for undergraduates in computer science and statistics have come up. These are new skills, which include data management, data visualization, and data analysis skills. Acquiring these skills brings about a better understanding of the data, which would not have been possible with small data sets. Hence, too much data that needs effective processing, analysis, storage, and utilization requires experts; therefore, this has led to the emergence of career subjects in colleges and universities as consequent opportunities of too much data.
Societal growth and expansion of the human population have led to a similar increase in data concerning health, customer spending, and population growth trends. The large database generated here provides a better opportunity for the government to analyze customer-spending patterns. Moreover, insurance companies use the same database to access the likelihood of risk occurrence. Moreover, scientific research heavily depends on large volumes of data, and as Shulman observes, “…the conclusions drawn from the research are informative” (1986, p.11). For Scientific information or findings to be true and informative, it needs large supportive evidence involving the handling of too much data for comparison purposes. Therefore, too much data provide an opportunity for scientific research to be carried out.
Conclusion
For any growing organization, there is an equal growth of data created which in the end becomes a particularly valuable asset to the organization. With data increase, also come problems and benefits. Problems of storage and privacy become a concern because of bulkiness, time consumption, and structures required to handle such data. The opportunities created by large data, however, overwhelm the problems because, in the same data, the secret of growth and existence exists. Therefore, large data for an organization, business, or country remains a valuable asset and requires proper handling to round the problem associated with the same. In a recap, information is slowly becoming contemporary currency in that large data coupled with effective data management are two pillars that will propel modern-day businesses to thrilling heights.
References
Conole, G., White, S., & Oliver, M. (2007). The Impact of E-learning on Organizational Roles and Structures. New York: Routledge.
Oliver, M. (2003). Looking Backwards, Looking Forwards: an Overview, Some Conclusions and an Agenda. In J. Seale (Ed.). Learning Technology in Transition: From Individual Enthusiasm to Institutional Implementation. The Netherlands: Swets and Zeitlinger.
Shulman, S. (1986). Those Who Understand: Knowledge Growth in Teaching. Educational Researcher, 15(2), 4-14.
Wickelgren, I. (2003). Spinning Junk into Gold. Science, 300(5626), 1646-1649.