Big Trend of Big Data

We are moving slowly into an era where Big Data is the starting point - not the end.

Digitalization means big data, we are moving slowly into an era where Big Data is the starting point - not the end. Big data empowers businesses with the ultimate competitive advantage, the ability to anticipate and detect trends. The big data market is still emerging and requires maturation. There are many nuances that need to be considered. What’re the big trends or big challenges of big data though?

The emergent advanced analytics trends: Cognitive Computing, Advanced Analytics, Natural Language Processing, and Machine learning are all interrelated and all start with the foundation of Big Data. One of the main issues that are critical to the use case for big data is the ability to stream new data elements in real time. Real time streaming has to be combined with batch approaches such as Hadoop. That means analytics has not and will not changes simply because the volume of data, what will change is the tools to do the analysis effectively.

Big Data management agility: Big data is good for insights, strategic questions are good to help frame what you are trying to decide, but making confident decisions also take a few other critical elements. First there needs to be a method for quantitatively understanding the uncertainties and risks. Second there needs to be clear governance for making the decision. in many cases, compelling analysis insights left untouched because the decision makers were not engaged appropriately. And thirdly, management practices: there needs to be a way to communicate and engage organizations in the effectively implementing a decision and managing the change. Where big data can really help is in monitoring how it's working and making any indicated course adjustment

Big Data vendor maturity:  The real issue is how you shrink the Big Data into meaningful patterns that provide context to beginning addressing real market problems. Big Data vendors are increasingly providing more offerings to round-out the solutions and continue to simplify customer deployments and remove friction. These are some of the signs of maturing offerings that are ready for prime time.

Big Data Best/Next Practices, the key benefit of big data is to eliminating of friction between business users and data required for timely business insight. 

1) There is going to be clear segmentation in the adoption of Big Data.
2). Companies which have some form of Big data projects running will graduate into certain production system.

3).Companies which are thinking of adopting Big data will focus on building business case with strategic and transformational value.
4).Many companies will still be focusing on strong analytical foundation for churning out value from the enormous amount of data.
5). Data-As-a-Service: The dedicated cloud companies hosting data for enterprises and increasing the value proposition by giving data analysis for the hosted service. However,  as there is privacy concerns, perhaps not all businesses will feel ‘comfortable’ yet to share that wealth with a third party and get them process it. 

Big or small data is only any good if it provides meaningful insights from which business owners can take or make actions on business improvement decisions with confidence.  Most of time, challenge inside an organization at this point of time is not to process the data but to infer insight from it. Any organization who aims to derive insight from its own customer, their habits, patterns related stuff, will treat the data as a treasure.

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Posted in: Big Data