The data generated by businesses can offer value in ways companies do not always realise, it has been suggested.
Oliver Arscott, conference manager at Big Data World Europe, suggested that business information can help companies develop brand loyalty and build their customer bases.
So in this respect, Big Data should not be considered so much a challenge to be overcome, but an opportunity to grow and develop, he noted.
"We recognised that big data is increasingly being seen not just as a problem encountered by academics, but also as something that most businesses are now dealing with," Mr Arscott stated.
"Within their data, businesses are able to find value that can fundamentally change their processes."
This can help save companies millions of pounds and enable them to develop closer ties with their customers, he added.
Mr Arscott said that if companies take the right approach to data - and are able to use it intelligently - they can tackle the issues associated with growing volumes and "squeeze value from their data sets".
According to Quest Software, businesses need to ensure they take all reasonable steps to safeguard their data.
Adopting a 'least privilege' security posture - one that gives each employee the least privilege necessary to accomplish required tasks - helps protect business information, the company said.
Assigning appropriate access directly to users based on well-defined roles, limiting access to administrator accounts, and making sure passwords are frequently changed can help reduce the risk of breaches, Quest noted.
Posted by Alex Boardman