What Value of Big Data Important for Business?

You may have heard talk of Big Data. But what Big Data means for you and your business?

The important thing, how you can understand the benefits of Big Data to solve the problem quickly, accelerate innovation and drive growth for competitive advantage?

big-data-businessThe potential of Big Data technologies found in the creation of business insights from massive amounts of data that have not been used in the digital world with the analysis.

To generate business insights, one must understand the changes in the data. The growth of data that is created as documents, photos and music downloaded etc. is not new, but the surprise was the increase in growth.

IDC’s latest annual study of the digital world has shown an increase of data doubles every 2 years until 2020. By 2020, IDC predicts that 62% of the digital world will come from developing countries.

Even more surprising, the amount of information made ​​on other people is greater than the information created for himself. In addition, most of the new data obtained are not structured.

Video, for example, is predicted entertainment will take 46.7% of the data in the cloud in 2020. This means that more often than we know about the data, unless the data is distinguished or characterized thus creating metadata.

Consumption data by increasing mobility and users of smartphones and tablets, which do not have large internal storage and relies heavily on consumption information from the cloud, meaning almost 40% of information in the digital world will be stored and processed in the cloud during its journey from the place of origin to point of disposal.

The importance of Big Data is data analysis and results of business insights that lead to smart decisions. While not all the data useful for the analysis of Big Data, some types of data was prepared for analysis, such as the patterns in the use of social media, relationships in the data from a separate study scientific, medical information relating to the data of sociology, security camera footage and so on.

Data and business insights to change the way we do business. Decisions based on data prepared to strengthen or weaken the human judgment and speculation, where managerial decisions are made or confirmed by predictive models and analysis of big data.

Business will run fine with adopting IT infrastructure faster, such as hardware, software, services, telecommunications and staff to be at the forefront of the competition, especially when the data are required for analysis of trends rather than looking for short publicity.

The investment cost per gigabyte declined because investment will drop from $ 2.00 to $ 0.20 and businesses will increase their IT investments by 40% in 2020.

On the other hand, insights missed by the organization has a much higher cost in solving problems quickly, accelerate innovation and drive growth. The cost of data collection will be an investment, but that is not cost effective analysis will be higher.

Basic real-time insight to optimize and increase profits is Big Data infrastructure. Cloud computing helps expand the company’s infrastructure in terms of flexibility and scalability are able to handle the increased volume and complexity of data.

To maximize the potential business initiatives, Big Data needs to be run in all parts ranging from finance, purchasing and product development experience to the consumer.

Business must address the sharing of information and processes across the organization, because the challenge of information such as the volume, diversity, and the speed, security and governance issues, if not resolved, may slow in creating organizational change, projects that are difficult to control, improvement of internal organizational vision, risk business and IT operating costs are high.

With more efficiency in their infrastructure, IT administrators can focus on value-added initiatives such as the policy of ‘Bring Your Own Device’ (BYOD), Big Data analysis, efficiency for customers, security, etc..