With Twitter planning 1000-character limit for tweets and Microsoft ready to unveil its ‘Surface tablet’ in India – the world is anticipating more and more killing applications that can help in connecting the dots between the explosion of data (Big Data) being generated and the volume of data that can be analyzed effectively. For years, big data has been a mainstay of diverse portfolio of businesses across the globe. However, to harness the big data for analytics uses, it is indispensable to have sophisticated data management and analytics technologies that can support the business mission.
Big Data refers to a large data sets gathered using various equipment (computers, satellites, mobile devices, cameras, sensors, log files, microphones, and more) that comprises of both structured and non-structured flood of information. This latest tech-industry phrase is believed to be evolved from web search organizations in a quest to query extremely large amount of unstructured data. Big data analytics is a technique that allows managing these complex data sets floating across Petabyte to Zettabyte (well, it is believed to surpass this limit as well).
In this blog, we will focus on how Big Data Analytics can help organizations to stay agile and gain competitive advantage in today’s Internet-reliant marketplace.
According to Wikipedia, Big Data is a massive collection of structured and non-structured data that is intricate to capture, process, and manage using conventional relational databases and software metrics. Brighter side is escalating data volumes present opportunities to extract real value from the stored data for making confident decisions in the business. Besides, several challenges are also twig to big data in tandem to:
Organizations need to integrate robust big data and analytics solutions to analyze this escalating volume, variety, and velocity of information. Accuracy in these complex data sets has the potential to transform the way companies manage their operations and also when they plunge to a final decision. Those who neglect upon this factor are struggling to maintain big market share.
Analyzing this information flow requires computing power depending on the amount of input data and the analysis needed. It is best-suited to pay-per-use cloud hosting ecosystem, which allows you to provision computing capacity and resize (both vertically and horizontally) the environment when and where required.
Not at all an exaggeration, companies leveraging big data and analytics strategies are prudently differentiating themselves from their counterparts. These implementations help them to explore new revenue streams, drive product innovation, and determine patterns to curtail fraudulent activities.
Study reveals that companies adopting big data, mobility and cloud computing solutions grow 53% faster than their competitors not adopting these technologies.
--- Dell & TNS Research
--- Dell & TNS Research
Making use of advanced analytics techniques such as text analytics, predictive analytics, and natural language processing, data mining, statistics, and machine learning, organizations can quickly analyze previously inaccessible or untapped data sources to gain new insights. It goes without saying that, quick data insights result into faster decision making and high returns in a real or near real time.
Analyzing the potential of big data in current workspace, big data analytics programs are in the top of the IT priority list for many companies. Of all these factors, many organizations have started offering strategies that can aid this ever-growing data bucket and provide quick insights into it. Prior you opt for a vendor, it should be checked that they are capable of articulating a clear set of organizational objectives with a real-time framework. Tools like Hadoop. MongoDB and a NoSQL database are a few of the hyped big data tools that might seem like the right choice for many.
The Bottom Line:
Hi-tech innovations are soaring, playing a dual role (positive+ negative) in today’s digitized world. For organizations capitalizing on the technology-rich innovations, such enhancements are the driving forces behind their success feats. However, for those who have been unable to keep themselves abreast with the latest techniques, these innovations act as a bane. Businesses embarking on big data platforms using advanced analytics strategy can analyze all relevant data to determine previously hidden correlations, which ostensibly fuels up the speed of decision-making and business processes.
Is your company struggling to keep up with unparalleled data growth? Connect to erudite professionals to seek absolute assistance at our toll free no 1800-212-2022.