Written by: Tom Altman, Chief Technology Officer
Data sets so large and complex that traditional data processing application software is inadequate to deal with them? That’s big data. In 2018 the growth of big data in companies will be in greater demand than ever. Here are 10 goals to focus on this year to help your business enjoy reduced operating costs, better decision making, and a higher demand for services and products.
Goal 1: Focusing more on data quality
Until now, big data has been all about numbers and databases growing out of control. Quality over quantity will save you time and unnecessary expenditure. By storing and working on the most productive data, you will have it readily available to make important business decisions.
Goal 2: Utilizing fresh data streams
IoT devices are revolutionizing tasks in unprecedented ways, churning out more big data. You need to aggressively invest in data aggregation to handle the data coming in from devices, websites, and your other business feeds. Regardless of your domain or industry, recognizing the IoT gold mine will increase your profit margins exponentially.
Goal 3: Supersize the data
In a good way! If your business accesses and/or creates large data reserves, robust search tools are a must. A big data system that utilizes machine-learning technology will deliver more accurate results from increasingly complex and bigger databases. Powerful computer hardware, improved algorithms, and increased data drive this growth.
Goal 4: Creating simulations and visualization models from analytics
In no time, data discovery, simulations, and visualization will become commonplace. More than just understanding analysis, data discovery will focus more on models, relationships, and presentation. You must have a forward-looking technology team in order to draw deeper business insights from your data.
Goal 5: Ensuring big data security
Privacy intrusion, corporate espionage, and cyber threats will continue to present adverse business challenges. In most business, there is a concerning lack of internal resources primed for safe data storage. A well-composed technology plan can work with other entities to offer robust security – guarding your most important business tool: the data.
Goal 6: Recognizing artificial intelligence advancement
Artificial Intelligence is at advanced stages of developing algorithms intended to foster natural communication between humans and machines. Your organization should invest substantially in tools, processes, and skills that exploit AI benefits to the fullest. Your team should be well versed to handle model creation, training and algorithm methodology selection, data integration and its preparation.
Goal 7: Integration of stream processing data
If you are worried about data autonomy, where top cloud players drive big digital transformation ventures, multi-cloud is the way to go. For applications to provide timely alerts and explore emerging trends accurately for end users, real-time analysis of operating data will be necessary.
Goal 8: Laying off the traditional data warehouse
As the variety, velocity, and volume of generated data continues to surge, the requirements to analyze and manage it is far beyond what the traditional data warehouse is capable of. This calls for an overhaul of the entire traditional warehouse infrastructure. Moving to next-generation databases will save you expenses and agony. This move is easily achievable by leveraging advanced processor architectures.
Goal 9: Recognizing growth of prescriptive analytics
Prescriptive analytics will make it easier for businesses make better decisions, with actions becoming more effective. Prescriptive analytics works by combining with descriptive analytics, thus optimizing your business production. Improving your customers’ experiences directly translates into a comprehensive business data picture.
Goal 10: Humanization of data
The unique and personal nature of big data stands to benefit your business more when humanized. You should aspire to make data sets consumable by all, enriching the customer experience and converting leads. By appealing more to personalities, businesses can tailor their products and services exactly as the consumer wants.
We wish you all the best in your 2018 business prospects. Need assistance getting started?