In the past, analyzing data helped teams write sales forecasts, determine inventory needs and decide the ideal time for buying a new piece of equipment. With big data, that’s all evolved into a setting where enterprises can predict customer behaviors, personalize marketing and buying experiences, and create new product lines based on social media analytics.
The impact of big data is currently taking another turn, and it means that all data processing will be big data processing. The advancing technology surrounding how data is used to drive business means it’s no longer just analysis and processing, but action-oriented.
Stop waiting. If you’re usually a late adopter of technology and prefer to watch the more risk-taking companies test out new tools and features while you wait for the 2.0 version, you may want to rethink that strategy when it comes to big data. Advances in big data are not slowing down and there’s no “later” for companies that pass on the advantages it offers now. Simply put, your competitors are likely jumping into big data, and they will far outpace you if you’re not engaged in these strategies.
The shift in big data processing: The reason you can’t afford to wait to implement big data processing is that all processing is becoming big data processing. It’s shifting from a system of gaining insight into a set of business metrics to becoming a system of taking action in real time based on data flowing in from a variety of sources.
Early big data analysis centered on offline batch analysis, with line of business managers pushing for faster, more comprehensive, smarter reporting. As this technology developed, it became feasible for data to become transaction-focused.
Two other trends are influencing the shift towards big data becoming action-oriented:
- Internet of Things (IoT) devices are sending a massive influx of real-time data, and edge computing makes it possible to process and analyze that data right at the source so that enterprise systems act on that data immediately.
- Artificial Intelligence (AI) and machine learning are making it possible for big data to use extremely effective predictive models.
Enterprises will increasingly see big data as the driver of their actions, rather than simply informing decision-making. Is your enterprise ready for big data processing? If you’ve been holding out on implementing big data technology, the time is now. Contact us at Truth Comm for more information on how real-time data flows and machine learning could disrupt your business processes.