Emerging Technologies alliance is Accelerating Big Data’s Growth

The big data analytics industry is set to witness an exponential growth as the latest technologies are inventing day by day. All the credit of this goes to the internet as the rate at which is being released is growing exponentially. We all are living in an advanced era where communication is not just limited between human beings.

Factors that drive the growth of Data Analytics –

Increase in Data Generation at Individual level

The growth of Smartphone penetration has directly resulted in an increase in the amount of data that is being generated. Well, the number of Smartphone users is growing rapidly as high-speed internet as well as mobile app development services are becoming more accessible and easily affordable. In driving greater data generation, Smartphone’s are playing a major role. Recently, a study conducted by BlueOcean Marketing Intelligence indicated that there are 383 million Smartphone users and 243 million internet users around the globe.

Increase in Data Generation at the level of organizations

The creation of data by corporate business is also witnessing an exponential boom. Big data projects have also received a tremendously favorable response from venture capital firms. Besides this, digitization of transaction is another factor that has boosted the growth of corporate data. Virtualization and compression technologies are enabling companies to do extra with their technological assets. The growth of e-commerce and e-mail exchanges has led to data coming in from multiple sources, and enterprises are looking for solutions that can extract valuable information from this data.

Compelling business needs to maintain a competitive edge

The deployment of analytics is critical to business for developing new competitive strategies. Dominant e-commerce portals are managing volumes of operational data every day and evaluating delivery plans. Various industries such as airlines, car rentals, hospitality are able to maximize their revenue by building better business models. This is because data analysis allows companies to compare availability and pricing with inventory.

Analysis Tools are getting better

The increasing efficiency of tools and products is a major reason behind the growth of business analytics. Due to the exponential growth of analytical complexity and data volumes, in-database analytics tools are gaining increasing adoption. Because of this, mobile app development companies are also beginning to develop in-house tools designed for specific data analysis purposes. One of the most widely used tools for analysis, Hadoop help you to store any kind of data either structured or unstructured and run applications on clusters of commodity hardware without any hassle.

Increased awareness of the process of data analysis

In the present times, there are various Android app development companies that are adopting data analytics to optimize their functioning. This preference for big data analytics in more developed economies is inspiring other companies to invest in the same.  Due to increased demand for cloud-based and predictive analytics solutions by industries such as telecom, healthcare is now emerging service units which have assimilated specialized tasks that were traditionally part of a large policy-making unit in workplaces. The network created between different organizations is also allowing them to learn from each other’s mistakes and successes in real-time, as the adoption and maturity of data analysis increase every day.

How big data is beginning to merge with the latest technological trends?

Blockchain and IoT

The blockchain is excellent for tracking and verifying data. Blockchain can be made immensely secure with various encryption methods and verification keys. Multi-step verification & distributing processing makes blockchain difficult to hack. As the Internet-of-Things grows, transactions, access, control, and various other aspects will become vital. The companies that are selling IoT devices are setting up huge servers and advanced authentication and security systems. However, doing so can get expensive and unwieldy. Further, the more data is gathered in one place, the higher the risks of security breaches. If you need an app for your business, then get in touch with mobile application developers.

IoT won’t work with AI

IoT is one of the most popular technology buzzwords of the year. Nowadays, IoT is producing a treasure trove of big data that can help cities predict accidents, give doctors real-time insight into information from pacemakers and crimes and enable optimized productivity across industries through predictive maintenance. Besides this, IoT is also helping us to create truly smart homes with connected appliances and provide critical communication between self-driving cars. In a nutshell, the possibilities that IoT brings to the table are endless.

  

Final words

It does not matter you are running a small business or a large organization, you need to understand your target audience, what are their preferences and how can you anticipate their requirements. Overall, big data play an important role in your business to analyze all issues and achieve your brand’s goals.