Are you still considering whether big data implementation is the one for you? Hesitate not, big data analytics helps businesses increase their revenue and it’s the future of the business world!
By definition, Big data is a combination of structured, semistructured and unstructured data collected by organizations that can be mined for information and used for business projections, or other strategic decisions.
The large volume of data with wide variety has proven to be one of an organization's biggest assets in the age of digital. Examples of big data can be your customer’s buying behavior, that can be processed to gain more insights to drive your supply chain forward.
In oil and gas companies, big data helps identify new drilling locations to be explored further and monitor the already-ongoing pipeline operations.
Meanwhile, the financial industry uses big data systems for risk management and real-time analysis of market data.
Almost in every business, big data is used to track electrical grids in their utilities. Moreover, we’ve seen governments use big data for smart city initiatives.
Where to start? You can start by utilizing the data that’s already within your environment. Then after you have identified the potential data in your organisation, time to manage it through:
In this phase, we select the right software and hardware to be used, choosing between both cloud-based or on-premises platforms.
Just ensure your choices enable stakeholders to easily access the information they need for decision-making. The ultimate aim is to align technologies with business goals.
Then, you can work closely with the management to find out what data is useful for the company and build some modeling to represent your core business concepts and their relations.
This is where you can witness your data transform into an important business asset, while the other data entities can be efficiently stored (or, retrieved and shared when it’s needed).
Monitoring database performance and making necessary configurations to maintain data availability.
We need data integration to achieve connectivity among your systems and to consolidate it into a single dataset; therefore, you can use it for analysis and make results that can be used for making strategic decisions. No more hassle in extracting valuable business insights.
No less important is the role of data security to prevent breaches into your valuable asset. Data security prevents access by unknown users to your digital assets.
With all these steps of data management, we can get valid and relevant results from big data analytics. Once the data has been gathered and prepared for analysis, we can apply many methods, which include: Machine learning predictive modeling, data mining, statistical analysis, streaming analytics, text mining and more.
Even though it sounds like a humongous effort (and, it is!) with the precise execution of big data analytics, your organisation will achieve stunning results.
Let’s invite all members within your organisation to adopt the data culture, making it a shared mission to improve your organization using data.
In still everyone’s confidence in data, help them realize the value of data assets, and form an internal discussion to share the best data practices.
If you need assistance in making it real within your organisation, Telkom DWS is more than happy to have your success story in our project portfolio.
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