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Boosting your business with big data analytics

BI & data analytics

Trends

Big Data analytics solutions can give a business an overwhelming boost in different ways. Let’s see how we can boost business processes in different companies.

How Big Data solutions help companies to develop?

Previously we’ve already talked about what is Big Data, where it can be used and how it can be helpful.

A quick rewind: Big Data term refers to huge chunks of data that are greater than ordinary data by three Vs: Volumes, Variety and Velocity. Big Data is primarily unstructured as well, and all those factors make it impossible for standard data analysis tools to process.

But understanding profit from this technology for a particular business demands seeing a specific application of a solution case that’s specific to a group your company belongs to (either by size or field of business).

By company’s size

Basically, all the organizations can be divided into four groups: small (1-100 employees), mid-sized (101-1,000 employees), large (1001-5,000 employees) and very large (more than 5,000 employees) organizations. Depending on the size of a company, we can see differences in their opportunities. It affects implementing data analysis solutions as well, but already in the year 2017, according to research conducted by Dresner Advisory Services, 43-45% of companies with staff count less than 5,000 were actively using the benefits of big data.Of course, using big data in action for the development of a company is costly, and being bigger means having more opportunities for solutions’ implementation, but that’s fading away thankfully to outsourcing and outstaffing companies. This makes implementation of even the most complex solutions much cheaper because there’s no need for hiring staff and dealing with their further movement in the future. Asking another company even for full-fledged big data development services is much easier and profitable in most cases.

By industry

The TOP-3 users of Big Data solutions are companies from telecommunications, financial services and healthcare industries. But it doesn’t mean that big data services can’t be helpful in other areas.

In retail & ecommerce

Retail & eCommerce can take the benefits of big data to create personalized experience for customers along with personalized goods advertising. Moreover, Big Data can help in stock management by predicting demands related to different shops/warehouses and comparing them with local inventory, thus allowing more optimized stock refilling.

In healthcare

In healthcare, Big Data can be used to improve a wide range of areas: from simple treatment optimization to predictions of disease outbreaks or research for new ways of treatment.

But these fields are narrowly specified and for this reason I’d strongly advise contacting a Big Data development company to develop a custom solution. Of course, the solutions available now will deal with data analysis pretty decently, but a custom solution can have other analysis and scientific tools implemented, which can make the job faster and easier done.

In education

Education also can benefit from using Big Data solutions.

Analyzing massive chunks of data (attendance, grades, etc.) allows for analyzing the involvement of both students and tutors into educational processes. Moreover, using this data properly gives an opportunity to alter the curriculum so that the educational process would be more effective. And analyzing such data as job demands and specialists’ availability will help in predicting the most demanded educational courses in the future.

And these are not the only ways how Big Data can be put to use in different areas.

By technology

The TOP-5 Big Data technologies are the following:

Hadoop ecosystem created by Apache Software;

Artificial Intelligence;
R — one of the open-source Big Data technologies and programming languages.
NoSQL databases;
Data lakes which allow storing data as is. It means no need in transforming unstructured data into structured format.

All these and many other technologies allow for gathering, storing and analysis of big data clusters.

But implementation of these technologies can be expensive. For example, to run such software on Java Virtual Machine (i.e., to use Hadoop ecosystem) it’s advised to have a developer who’s passed big data certification for java developers. And sometimes using even a bunch of products can’t cover all your needs, which will lead to hiring a specialist who can develop big data algorithms interactively in python.

That’s when outsource big data solutions development tags in. Getting others to develop and implement Big Data into your business processes will save money and energy on specialized staff hiring, onboarding, care, etc.

At Innowise we offer a wide range of big data services which include:

Big data consulting taking into consideration your business needs and latest trends of big data technologies;
Full-fledged big data development services including development of custom solutions for gathering, storing and analyzing big structured and unstructured data chunks;
Maintenance & upgrading existing software products, etc.

Short summary

Big Data is the future of data analytics that can be used today. Its ability to deal with both structured and unstructured data in great volumes is overwhelming.

There was no way for Big Data developers to be undemanded. And the situation won’t go any other way in the near future. More businesses start considering and implementing Big Data solutions into their business processes, and more Big Data development companies emerge every day.

Data volumes are growing rapidly, and there is a need in analyzing it as productively as possible. Gathering, storing and analyzing such chunks of data as cookies, personal info provided via forms, feedback from social networks, customer’s behaviour on the website, etc., means a lot for businesses. Basically, it’s the most effective way to boost customer flow and revenue as well as optimize expenses. But doing all this is impossible without specialists who can set up Big Data solutions, maintain them and put the results of Big Data to use.

Big Data’s future seems bright, just as the future of the companies that implement big data development & analytics services in time and use them correctly. And options to create custom solutions with the help of Big Data development companies looks really sweet considering both cost and functionality.

There’s an enormously high probability that your competitors are either considering to implement or implementing Big Data solutions right now. Why not get ahead of them?

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Dmitry Nazarevich CTO

Date: Oct 12, 2021

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How Big Data solutions help companies to develop?

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