Neosoft Technologies – Big data analytics is on the verge of a major change. Many of the upcoming data analytics trends are the result of multiple “transformational” technologies at once. As more data sources enter the mix every day, businesses are increasingly looking to AI, machine learning, and natural language processing to help them quickly identify and act on hidden insights in uneven datasets. Here, we are going to explore the technology currently shaping the future of data analytics. Analytics is perhaps the foremost main tool a company has today to gain customer insights. This is often Big Data Space is set to reach $ 273 billion by 2023 and many companies like Microsoft, Amazon and Google invest a lot in not only collecting data, but enabling data for the endeavor. As AI and machine learning continues to grow, so do we use analytics as well, development and change keeps on happening.
Big Data is everywhere
Big data is indeed ubiquitous these days, and sometimes we may not even realize how much it affects our everyday lives. Without the presence of Big Data in your life, it is becoming harder and harder to function in normal society. Many of the changes are so subtly convenient that we barely notice them. It is no enhancement to say that Big Data is everywhere today. Here are five methods used in your daily life.
- Mobile Maps and GPS
- Online shopping
- Urban Planning
- Energy Consumption
- Wearables
Expectations are sky high
The data explosion is accompanied by a wave of excitement and urgency. IT and business leaders know that there is hidden value within the data, and expectations are high that capturing new insights from this data will unlock operational efficiencies and business growth. These expectations translate into different business objectives, which are influencing data investment, including better decision making, improved security, increased productivity, and enhanced customer experience.
There’s a need for Data speed
Business is advancing rapidly, but this century has gained momentum as the Internet leverages the playing field for new entrants in small companies and industries. Today, companies of all sizes must be agile and decide quickly to remain competitive. The good news is that they have a wealth of data. The challenge to speed up decision-making is faster query processing and number constraints.
Security Remains top of Mind
Despite greater focus on enterprise security, high-profile data breaches continue to make headlines – such as 500 million Marriott records in 2018 and the 2017 Equifax breach, which exposed the personal credit details of 145 million consumers. IT leaders understand the need for existing due diligence: concern over data security is the top deterrent to the handling of big data, and security is the area that needs the most improvement from data initiatives to ROI performance. It is a big hill to climb. Given the high volume of data, variety of formats, and the need to support data-driven communication and collaboration beyond traditional firewalls, IT leaders must find the right mix of in-house and third-party technologies and processes to defend , Must detect, and respond to potential data breaches. For example, more than two-thirds (68%) of organizations say they are taking additional measures to protect unread data such as text, video, photos, and email.
Integrations is a major Hurdle
Emphasis on security itself is a small data explosion, as security monitoring tools generate large data sets that are analyzed for threats. Security, however, is one of dozens of data sources trying to cut IT across multiple applications, databases and business systems.
About Neosoft Technologies
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