Big Data Analytics Solutions: What exactly does your company need?

From making its appearance in the first decade of the 21^st century, where only a handful of the enterprises were aware of it, big data today has proven itself as a large-scale enterprise capability. As of 2013, the available enterprise data was to the tune 3.2 zettabytes. If the projected growth rate of 50 times per year is considered, the world will have 20 zettabytes of raw information by the end of 2020.

Why has Big Data Become so Apropos?

Ever since its discovery, big data has always been an integral part of an organization’s business strategies and processes; however, it has only recently assumed such epic proportions with the emergence of connected devices. As with any new technology, the implementation of big data too allows businesses to improve consumer experiences, cut costs and enhance strategic decisions.

1. Going Beyond Mobility:

The connected, digital world of all things is opening up new vistas of accessing customers and their information. Of the businesses surveyed, 2 out of 3 or 66% believe that smart objects will be a key to determining a company’s position in the market or in gaining a competitive edge.

2. Experience is what matters the most:

In a survey by Gartner, 89% of the business leaders believe that customer experience is at the cusp of implementing big data analytics solutions.

3. Increasing Consumer Demands:

The demand for connected home devices is already rising and research suggests that 2/3 consumers will purchase such devices within the next 5 years. In addition to it, the demand for connected consumer electronics is set to double year-on-year by 2016.

4. Context-based Experiences:

Big data analytics solutions combined with the usage of personalized devices generate highly contextual data, which in turn allows businesses to craft user experiences unique to each user.

5. Personalization:

Any business, irrespective of retail or tech, has resorted to applying personalization to deliver enhanced user experiences. Companies that have successfully integrated personalization into their products or core services report to having an edge over competitors. 60% businesses even suggest a positive increase in their ROIs as a result of personalization.

What Does a Business Need to Address Big Data Analytics Solutions?

For businesses to be able to draw effective and. quantifiable results out of their big data reserves, they need to have a few things in place, apart from the requisite tools, technologies and expertise.

1. In keeping with the 3 V’s of Big Data – Volume, Velocity, Variety – enterprises invariably require large volumes of data.

2. They also need raw information, that too in detail and not just in chunks or segments.

3. If the raw materials are not available at the right time, production most definitely is delayed. In today’s world of split-second decisions, real-time availability of usable data is a priority.

4. In addition to real-time availability, the enterprises need information that is consistent, correct, complete and concise.

5. All the aggregated records would be of no use if the enterprises lack the requisite storage spaces, processing tools and access to analytics solutions.

   The enterprises require the essential infrastructure to collect, aggregate and store their big data following which big data analytics solutions can be implemented.
   

For implementing big data analytics in-house, businesses require huge resources, ranging from infrastructure to personnel, which can be quite daunting in terms of costs and effectiveness. In such cases, enterprises that do not have full-fledged system architecture in place, the analytics services and solutions of a web application development company can be considered by the businesses.