Table of Contents
Introduction – How Big Data Has Changed the World of Business
What is big data and how to deal with it? What is data analysis and how has big data changed the world of business? These are the questions that every business owner asks himself when thinking about applying big data analytics in developing a business strategy for the next decade. In this article, we’ll explore what big data is and how to measure if your business is ready for big data insights.
About Big Data Again
Big data is something very complex and really large. Big data sets are so massive that can’t be managed using standard data processing software programs. These massive volumes of data enable you to solve such business issues you wouldn’t have been able to solve before. Thanks to quality data insights you can manage successful product development, customer experience, operational efficiency, drive innovation, and much more.How to Deal with Big Data in Business
Big data can provide you with valuable insights to take new opportunities and develop new business models. Explore the three key actions to deal with big data:Integrate
Big data is extracted from various web sources and applications.
Traditional data integration mechanism ETL – extract, transform, and
load requires new technologies to analyze big data sets at large scale
like at terabyte, and even petabyte. During the integration, it is
necessary to collect the data, process it, and ensure that it is
structured and available in a form that you can use for data analytics.
Manage
Big data needs storage, and the solution might be on-premises, in the
cloud, or both. Big data can be stored in any format that can be used
for future data analysis per request. You can choose your storage
solution according to where your data is currently stored. The cloud is
becoming more and more popular as it supports common requirements
and enables you to power up resources upon necessity.
Analyze
Your investment in extracting big data pays back when you analyze your
data and take corresponding actions. Use big data to get helpful
insights and make new discoveries. Build data models to make trend
analysis. To be short, make data work for you.
Is your Business Ready for Big Data Insights?
If you want to understand whether your business is ready to use big data insights, go through the following points:- Database in place – If you are using databases and have a team managing these databases, then you’re ready for big data insights.
- Reporting is distressing – If making various kinds of reports is painful for you, then you are ready for data integration.
- Poor data quality – If your data is incorrect, unstable, or you are just losing data, you have to practice proper data integration with clean and accurate data to ensure proper analysis.
- Your Sales and Marketing teams are enemies – To enhance communication between these two teams you need to integrate corresponding databases, so both teams have an idea about each other and build a proper action plan.
