A Brief Insight on Big Data

Big Data – The Epicentre of Everything

“Big Data is not about storing fast-growing pools of data, but about deriving the most from these data mines and taking consequential and correct decisions at right time.” – Sunil Jagani, CTO & Founder, AllianceTek

What is Big Data Technology?

With the ever increasing sea of data, the need to organize and store data, analyse it and ensure optimum level of data quality is imperative for every business.

Big Data can characterized by 3 V’s:

1. Extreme amounts or Volumes of data that is being stored 2. Wide Variety of data ranging from any category, both structured and unstructured 3. Velocity or the speed at which this ocean of data can be reached and analyzed.

With vast experience in technology and systems, Jagani knows how to redefine the processes and systems of business to get them to the top and give them an edge over their competitors.

Jagani explains Big Data as techniques and initiatives to handle the fast changing and ever growing data that is diverse in nature and too much for the conventional technologies and applications to handle.

You will mostly find either Operational Systems or Analytical Systems or combination of both.

• Operational systems mainly focus on capturing and storage of data in real-time. They generally aim at serving high concurrent queries or requests but display low inactivity for replies with high selective access conditions.

• Analytical Systems exhibit retrospective multifaceted analysis that emphasis on high throughput and the analysis may in process may cover most or all of the data available in the system at that point of time.

Benefits:

Big Data helps companies to identify the information that can improve their decisions.

Predictive analysis of data helps business to keep themselves abreast with the latest market trends and developments. In short, it meets the analytical needs of any business.

According to Jagani, “Big Data makes possible real-time monitoring and forecasting of developments or events that can impact the business”. He further states.“ With the help of Big Data, companies can act more dexterously while incorporating changes as compared to their competitors.”

How Companies are Leveraging it?

A comprehensive and centralized individual customer data where each single data of customer is synthesized can provide information about customers’ behaviour and their preferences, taste, buying behavior, and search history. All these can be figured out from the consumer’s digital footprints. Companies use this real-time data to strategically target their products, services and marketing campaigns to motivate and bring in new customers.As per Jagani,“Leveraging Big Data is the key to effective product development and formulating marketing strategies. Using this data to improvise customer services is what taking the companies one step ahead of their competitors.”

• Companies leverage information from Big Data to predict the future impulses of a customer and recommend their products and services accordingly.

• Amazon has been using buyer’s search history and other related data of customers for recommending its products. The more information you have and the better the analysis is, the more successful you are.

While saying the amount of data and access to information that has potential to transform a business is changing, Sunil Jagani upholds the fact that companies must understand, data is that missing link to convert marketing strategies into results.

Big Data is all about vast pools of data and deriving the value within. Growth in real-time data analytics in future of data mining is imperative and businesses without a solid data strategy will be left behind. Extrapolating the acumens from Big Data and incorporating these inputs is the best step you can take for your business.

Sunil JaganiPresident and Chief Technology Officer

AllianceTekPennsylvania - Corporate Headquarters

100 Deerfield Lane, Suite 250Malvern, PA 19355