With the advancement in technology and its wide use in enterprises, the amount of data is exploding. Apart from the data and information captured by enterprises, social media, multimedia and the internet are also fueling growth in data. There is approximately 2.7 Zetabytes of data in the digital world today and it is growing manifold as you read.
Gartner defines Big Data as high volume, velocity and variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making. Most of the Big Data is unstructured that is disorderly — words, images and video on the Web and those streams of sensor data.
According to research by MGI and McKinsey’s Business Technology Office, this data also referred to as Big Data–is fast becoming a key basis of competition, underpinning new waves of productivity growth, innovation and consumer surplus.
This data if harnessed and analyzed using the right computer tools can provide knowledge and actionable insights to make faster decisions, as it contains tons of information about potential customers. With integrated storage, analytics, and applications, Big Data can help drive efficiency, quality and personalized products and services, producing higher levels of customer satisfaction and experience.
It is being used extensively today by many enterprises to drive business benefits. Walmart for example using the Big Data analyzes sales, pricing and economic, demographic and weather data to bring down their prices, plan sales, apart from tailoring products for stores.
This big data has been used to their advantage by the Big Apple also. Siri, the talking question-answering application in iPhones has been feeding on data since 2010 when it was introduced. Today, Siri is like a personal assistant that can learn from user behavior to anticipate its users’ requests and give all kinds of information such as; reminders, weather reports, restaurant information, hospitals, medical info etc. and is continuing to expand.
So, how can enterprises take advantage of this Big Data? Partner with the right Big Data Solutions provider that has the expertise and the necessary tools to analyze the Big Data apart from proficiency in Big Data Hadoop platform, as it can help create Big Data solutions tailored to industry and business requirements.
They being the experts can help build Big Data adoption roadmap and an architectural model based on client’s requirements to bring out maximum benefit. The solution can help find value in your big data by writing customized software to convert and store data in the Hadoop Distributed File System (HDFS), and analyze that data. Thus, leverage big data for real time reporting to drive better data-driven, operational business decisions using the right Big Data solution.
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