Big data is a trend and a challenge for enterprise management. And big data future is one of the important issues that technology application businesses need to consider.
Nowadays, information is an invaluable asset of all businesses. If businesses understand how to exploit well, it will not only help increase their profit but also help save time for customers in procurement and increase value for customers.
Multi-functional application capable of combining data to create added value
The abundance of public and private data is creating a new opportunity to mix the two types of data together to gain new insights beyond what a large data set allows.
The greatest value that Big Data achieved comes from combining large data packages together. For example, the Land O ‘Lakes’ WinField enterprise specializing in the supply of agricultural seeds and pesticide products combined large datasets including weather data, soil moisture data, data soil types, seed data and many other data types to help growers achieve maximum productivity.
The explosion in reform of open source Big Data
From an open source core, companies are building a platform of technologies, tools, and components of big data. This innovation is motivated by organizations using open source components and they are promoting it aggressively.
Moreover, traders are providing tools to alleviate difficulties in implementing large data solutions. As General Electric is providing tools to help manufacturers exploit their data. Microsoft is working closely with Hadoop provider, Hortonworks to help business customers and analysts access large datasets via Excel.
Biggest ROI of Big Data comes from Logistics (Logistics) and Finance
While the sales and marketing sectors account for the largest share of investments (30.2% of big data budgets), the logistics and financial sectors (accounting for only 14.4% of investment in data) brings a much larger rate of return on investments.
Big companies tend to move to Big Data
Big businesses are increasingly taking initiative with Big Data. 53% of the 1,217 large companies surveyed in a global study conducted by TCS – Tata Consultancy Services have implemented at least one big data initiative within the past year.
According to TCS – Tata Consultancy Services, businesses are very confident in their innovations. 43% of organizations predict profits from this investment will exceed 25%.
With the amount of data produced quickly, surely if you are a business owner, you will know what difficulties your business will face when not saving yourself with the support tools, advanced ways to handle the huge amount of information obtained. Big data future are taking certain steps changing the business way of companies.
Hopefully, this article has mentioned useful information about big data future helping your business. If you want know more about various aspects of technology as well as big data, please read the next articles.