Big Data is changing all of business and society on a fundamental level. The days of manual processing of large volumes of data are over. When organizations are investing in new technologies, every piece of their conversation and data is crucial. Until about a year ago, the strategy contemplated was to develop the necessary architecture to store the unbelievable volume of data but the rapid evolution of technology has forced businesses to rethink. They are now finding ways to use that information to scale up and maximize their profitability.There are several important aspects in industries and businesses that are mounting with the help of Big Data thus creating value and innovation in businesses:
Big Data builds instantaneous connection
Big Data and Internet of Things rely heavily on machine-to-machine communication; incorporating networks of data-gathering sensors; the power lies in its mobile, virtual, and instantaneous connection. Industry veterans have claimed that Big Data will make everything in our lives smart and instant.
Big Data aims at exceeding customer expectations
The idea behind introducing Big Data in industries like fleet management is to reorient the companies offering e-hailing services along the digital highway. Information is shared on a real-time basis and one can keep updating himself all the time to understand customer expectations and preferences. The applications using Big Data bring about digital-driven changes in the e-hailing industry thus exceeding customer expectations.
Big Data enhances data storage
The need for data storage applications and architecture is set to grow exponentially and so will the importance of generating quality data and using it effectively. With Big Data, you can process large volumes of data and generate insights for the companies to add value to what they do. It is all about cognitive and linking the organizational data to deliver unprecedented statistical reports and heat maps on consumer behavior that help them get to decisions, improve performance and drive revenues.
Big Data driving transformation
Creating intelligence using Big Data for the front end application development gains companies an edge in the market against their competitors and creating apt processes. The data that showcase the success level of many organizations that use big data analytics illustrate how immense the implications of Big Data-driven transformation could be. The current lack of perfect information in the organisations can be compensated by integrating everyone’s data on a larger platform for big data processing and making the stored data usable and actionable.
Big Data revolutionising ecosystem
Organisations, have started to realize the state of context and the content where the interplay between the user and the provider is in well simpatico using big data, have their archaic ideas crushed on what is real understanding toward the end user and the market.
As big data begin to rise, state of practice in analytics evolve. Today, the industry has witnessed advanced and intricate implementations of big data, such as Mechanical Turk that uses crowd sourcing bringing value-added tools to the market and revolutionizing the ecosystem.
The author is the CEO and Managing Director of NDOT