The Ultimate Cheat Sheet on Big Data Analytics
Did you know that by 2020 about 1.7 MB of new data will be created every second per human being on the planet?
We know that the data volumes have exploded in the past few years and is being generated like never before. We are just at the beginning of a revolution that will touch every business and affect each individual, yet, many businesses are still ignoring the benefits of big data analytics. It's high time that businesses educate themselves about big data and leverage it in their business operations.
Companies must find practical ways to use big data to surpass their competitors and learn new ways to capture and analyze the growing data about products, services, and customers. The new data sources include sensors, personal devices, machines, social sites, website interaction, etc., which can be used to source information for analysis. Read detailed cheat sheet on big data analytics in this article.
The 3 Vs of Big Data
Big data allows organizations to store, manage, analyze, and manipulate large volumes of data at the right speed and at the right time. To obtain the right insights using big data, it is broken down it three major characteristics, which are listed here -
- Volume - This refers to the massively increasing amount of data, which is growing at a rapid rate
- Velocity - This term refers to the rapid response or the movement of information in and out of the system
- Variety - This term refers to the huge differences in the types or sources of data encountered during the data analysis
The Three Layers of Big Data Technologies
It is important that business organizations understand the concept of big data and use it for their benefit in the best possible manner. Generally, there are three layers of the big data technologies, which include -
This is the first layer and it comprises of the infrastructure which is needed to integrate and store the data. The data may come in different formats and need to be integrated carefully.
This is the second layer and comprises of a really powerful processor which processes all the data. The high volumes and high-speed requirements have driven the need to develop better analytics engines.
This is the third and final layer and comprises of different visualization and big data analytics tools for users to explore and communicate the data in a very intuitive way.
Why Companies Need Big Data Analytics?
The hardest part of any business is to achieve the organizational and financial goals and objectives. Big data analytics can be leveraged to achieve this. Some of the key reasons why companies need big data analytics include -
Better Decision Making
Big data analytics aids every business to improve their decision making, discover new and useful insights, and optimize their business processes in the best possible manner. This provides them with the opportunity to promote innovation and make timely decisions based on the results
Provides Customer Insights
It provides them with insights about their customers and how much they are satisfied with their products and services
The real-time feature of big data is another major advantage for the companies. Many companies look for real-time data which enables them to take quick decisions and act on them. Real-time data allows companies to personalize the look and feel of their website to suit their customers' preferences
The Future of Big Data Analytics
The future of big data analysis looks very bright and provides a lot of opportunities for businesses. Some of the points which can be expected in the future include -
Data Will Continue to Grow
The data volumes will continue to grow especially considering the number of devices increasing at an exponential rate
Number of Tools Will Increase
The different ways to analyze the ever increasing amount of data will continue to improve and the number of big data analytics tools will also grow
Machine Learning To Dominate
Machine learning will have a big role to play in big data analytics in the coming year and will be necessary for data preparation and predictive analysis
Security Concerns Will Continue
A major challenge for big data will be the privacy of the massively increasing amounts of information
Teams of Big Data Analysts Will Come into Being
More and more companies will have a dedicated team handling the complexities associated with data management with a have chief data officer leading the team
It is predicted that big data will only get bigger and the companies which fail to tap big data analytics and integrate it into their systems will be left behind by the competitors.
Choose Outsource2india to Leverage Big Data Analytics for Your Business
Outsource2india is a leading outsourcing company offering a gamut of data management services to global clients for over 24 years. We have a rich multi-domain industry experience of having worked with clients from different verticals, which empowers us to handle any kind of big data challenges and provide top-quality big data analytics solutions within a quick turnaround time. O2I is one of the premier big data analytics companies and outsourcing big data analytics to us gives you to access to state-of-the-art infrastructure, cutting-edge technologies, latest big data trends, and skilled workforce at highly affordable prices.
Therefore, if you are looking for a quick, efficient, and affordable big data analytics service provider, then just get in touch with us today!
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