With help from modern technology, we have started connecting everything. From our mobile devices we can control the lightbulbs and temperature in our homes and see just how many calories we have burned today. All of these connection have data attached to them and all of this data goes somewhere, but it’s too much to be stored just anywhere. On-hand databases don’t have the ability to compute all of this data- making it big data.
The official definition of big data according to the Meriam-Webster dictionary is: extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.
Big data is set apart by the ability to analyze the trends and patterns in behavior. More data than we know what to do with is at our fingertips and ready to be translated into useful insights. How can you put this to work for you? We have come up with 10 things about Big Data you need to know to strengthen your business.
1. Operations Efficiencies
Machine-to-machine interactions are only part of this puzzle. Sensors are collecting data at incredible rates everywhere. This data can be used to make operations more efficient. More insights means increased productivity.
2. Software Growth
A growth in software can be expected as big data grows. Software related to big data such as collaborative applications, data access, analytics, data delivery, and data management are going to be in high demand with the growing demand of big data. These software types are incredibly useful when interpreting big data to create valuable insights.
3. “As a Service”
The tools of yesteryear won’t work with big data. There is too much data being provided too quickly for a simple spreadsheet to handle. Data analytics as a service are here to save the day. This is how data can really to put to work for your business.
4. Chief Data Officer
If you don’t already have one, plan on adding one to your company soon. CDO’s are going to be essential for your growth because of the demands big data analytics creates.
5. Privacy Concerns
A big fear when it comes to big data is privacy. With all of this information exposed, how is our data secure? This is a valid concern because of the many security breaches that have happened, but this won’t stop big data. It is too valuable to a company’s growth. Just like advances in other areas, we can expect security to catch up to the needs of the consumers.
6. Customer Intelligence
More sources of data are used to collect data on your customers now, including social media. Data that in the past was uncategorized can be used to help companies understand how to treat each customer to gain high levels of satisfaction. This is an area where the ability to understand patterns from big data really pays off.
7. Business Process
Companies are becoming more and more data driven. Mobility coupled with this data means that everything is immediately actionable. Things will move and evolve even quicker than they have in the past- yes it’s possible.
8.The role of Wifi
Wifi’s role in big data is growing and has helped to encourage the growth of big data. In the future, it will have an even larger effect when location analytics can improve business intelligence, customer interaction, and security operations. Wifi brings more applications for big data in both consumer and enterprise markets.
9. Data Quality
How do you know the quality of data you are getting from big data? All of the data is dumped in the same place when it comes to big data meaning the most and least useful data is there and it is your job to soft through what to use and what to discard. This is one of the messier sides of big data.
10. What is being Used?
With unfathomable amounts of data being collected from a multitude of sources everyday, it would be nearly impossible to use all of this data. 88% of the big data out there is not being analyzed. Is this a waste of data or a smarter use of time? There is a fine line with knowledge being powerful and too much knowledge bogging you down. Insights from data are incredibly valuable and with big data, you will never be lacking.
GadellNet is an award-winning IT consulting firm that provides full-service technology solutions to small businesses. Since 2003, we have been delivering efficient, profitable and happier workforces. GadellNet’s best-in-class engineering team is highly successful at implementing and maintaining value-add hardware and software technology.