Big Analytics: Need of the Hour
Start thinking ‘Big.’ Learn how Infomaze helps you benefit when it comes to handling Big Data, regardless of the size of your company.Big Data seems to have become the talk of the town these days. And why not? It appears to be helping many businesses to improve themselves day after day and is creating its very own space in the field of software industries. Before we discuss any further, it is important that we know what exactly Big Data is.
As the name itself indicates – in a very obvious manner – Big Data is a collection of humongous sized data sets that is messy, structured or unstructured, hard to make sense of and even harder to handle with our traditional databases. Technically, it is defined by Doug Laney as a “three-dimensional data, the dimensions being Volume (amount of data), Velocity (speed of data in and out), and Variety (range of data-types & sources).” This is also known as the 3 Vs definition of Big Data. Many companies these days add two more Vs to this – ‘Value’ and ‘Veracity.’
Does your organization really need Big Data?The answer to this ‘Big’ question is an equally big YES. In the long run, companies which are prepared to handle Big Data will definitely attain a competitive edge over the companies that still depend on plain old Data Analytics. But before you jump on to the Big Data wagon and ride around aimlessly, it is important to know whether or not you should have a Big Data Tool in your hands. And to know the answer to this question, you would be required to answer a few more:
- What is your company all about?Look beyond the obvious here. For example, if you think that Netflix is only about streaming movies as per the demands of the customers, you would be wrong. Think of it as the business which maintains records about the viewing habits of people, logs generated by their website, etc.
- Do you think that better handling of data may change the way you do your business?It is important to decide how much data you require and whether you have that amount of data in your hands. If you don’t have that amount of data, how do you plan to acquire it? And when you do acquire it, how can you improve your market with its help?
- Do you want a team which takes care of Big Data in-house or do you want to outsource the team?This is where Infomaze comes in. Read on to see what we have to offer to you in this regard. However, the answer to this question depends on how important handling the Big Data is to you. How is it going to affect your business? If you are just starting out, you could try using off-the-shelf, open-source and easy-to-use products.
- If you need an in-house Big Data team, do you have skilled employees in-house or should you hire new hands for this particular purpose?In an ideal world, if you already have skilled hands, they should be working on Big Data. If not, you have to decide whether you want to train the personnel that you have with you, or hire new ones for this purpose, which would actually leave a dent in your budget.
- What depth of Big Data should your Analytics team get into?If you have a company which has been running for a few years, your company already has a lot of existing Big Data. Remember that you cannot really plunge into the middle. Encourage your team to get to the low hanging fruit first, and only then should they get into extracting the solutions for specific problems.