Big data is a collection of structured and unstructured data that is extremely large in volume. With the help of extensive amounts of information stored in big data, companies have access to much better insights into their customers’ behaviour and strategies. Excellent database applications and experienced data professionals are required to analyze and process the information stored in big data. Using this process, companies can improve their operations and create personalized marketing campaigns to increase their revenue and upscale their business.
Year-on-year, the big data volume continues to grow at a fast pace. This has influenced various enterprises to leverage this data to upscale their business. Moreover, many companies are adapting to the concept of transferring their big data processing to the cloud.
However, due to the unavailability of better infrastructure, the absence of skilled professionals, and high cost, achieving fully optimised results is becoming a challenge for organizations. This has made businesses realize the importance of investing in big data projects. Companies are ready to explore opportunities that will ensure their success and help find better and agile work processes. Achieving this goal will be easier if companies leverage the power of cloud computing in optimizing big data projects.
Many businesses claim to have data repositories in the range of hundreds of Terabytes. Having access to such a large volume of data enables organizations to integrate and stream data, conduct ad hoc analysis, and use machine learning at its best. Moreover, companies are witnessing a broader utilization of big data across various teams in their workspace.
As per the 2021 Big Data and AI Executive Survey by NewVantage Partners, 81% of the firms are positive about adopting this concept in the pursuit of becoming more data-driven in the coming future. Moreover, around 96% of the respondents in the survey claimed to have a measurable business growth as compared to only 48.4%, five years ago.
Additionally, the growth in the big data trend has prompted an increase in the popularity of open-source engines and technologies. Some of the widely known tools among them are Presto, Apache Spark, and Flink.
IDC Technologies is well versed in offering big data services that can help companies make smarter decisions to drive their business growth. They provide deep insight into the data by offering Data Consulting, Data Engineering, Analysis & Dashboarding services to help you make the right decision for your business. We have a team of highly experienced professionals with a deep knowledge of hybrid cloud and big data, driving comprehensive business intelligence and strategy. In addition to this, we can assist in implementing effective business intelligence tools, streamline access to multiple data sources and provide scalable storage & computing. This will help reduce costs and provide powerful insights into structured and unstructured data.