Data are now key factors for every sectors and functions in any size of company. Every sector and department couldn’t strike without dealing with data. So, Bigdata is playing an important role in the improvement of a company. The use of Big Data is to retrieve important and useful information from the large amount of unstructured or semi structured data.
Bigdata is one of the most trending word in today’s market. The effect of big data in every business- from fortune 500 enterprises to start-up’s is so huge that each and every company wants to leverage it. It doesn’t matter, in which field you are working and what is the size of your company? Data collection, analysis and implementation impact your business in several ways. This is the time where you can’t ignore big data analytics and if you are still saying that ‘Big data is not beneficial for my company’ then you are definitely moving out from the competition.
Can I outsource big data to vendors? Before going to the answer of this question let us look at the different terms used in this question i.e. ‘Outsource’, ‘Big Data’ and ‘Vendors’.
What is outsourcing? Outsourcing refers to the contracting with another company for business purpose. It can be international and domestic contracts. Sometimes outsourcing also refers to exchange or transfer of employee and assets between different firms. It helps the firms in reduction of cost and improvement in quality.
Today, retail is driven by data and technology. Big data is becoming really important to retailers. Retailers must adopt big data and digital skills to get succeed in a sector. According to a survey from “101Data”, 96% of retailers reported that big data was important to them and 48% of retailers reported that big data best fit with their marketing department.
Today Big Data is changing the way of our thinking. It’s changing the way of living and working. We are leveraging Big Data in our growth so that everyone can contribute and take advantages. The big data analytics makes life easier and more goal centred. Analysing huge amount of data gives us more accurate decision making ability. With these benefits it is also affecting our social life. Our social life can revolutionize after applying the big data analytics. There are many area from which Big Data can revolutionize social welfare. I am listing out some of them with reasons that how it can revolutionize social welfare.
Online life will be safer– Now a days everything went online. Our life is almost dependent on online services. From Shopping to Education, Transaction and many more we used online services. But this method is no more so safe. Others may hack your information and misuse those data. Big data can help us in this problem. By analysing the hacker’s pattern it can improve the security of your website.
Education– Today’s education cost is rising twice than any other sector. So we need to find an alternative of these traditional education system. Big data can help us to provide these study materials online. So that all could have easily access to the education.
Health Care– The most impact of big data on our social life is in healthcare sector. It helps doctors to find the pattern of any disease and on the basis of that pattern medicines for that disease can be invented.
Transport- The advantage of big data is also in transportation. In transportation there are multiple of uses of big data from analysing the traffic to road safety and security purpose. Data scientists can find the behaviour of people on road. By analysing the transportation data the pattern of accidents can be identified and their solutions can be generated.
Career opportunities- There are many websites which help job seekers and employees to find their jobs or employees. Job-seekers find the opportunities according to their skills and employees used to get their best meet on the basis of candidates skills
Business future- To plan the future of our business we need to go for big data analysis. Those business decision will take your business far away from your competitors because those decision will be based on the real experience of your customers.
Weather forecasting- Big data can also help our social welfare in weather forecasting. It will give great benefits to all but specially to farmers because most of time they dependent on weather. So use of big data in this area will revolutionize the whole society welfare.
Big data creates a lot of opportunities for every sectors people just need to catch those opportunities for the development of their own and as well as society. One more great use of big data towards revolutionize social welfare is in anti-poverty programs. Big data helps to create difficult policies for the anti-poverty programs. For these type of applications a large database set is needed and linked to different social data sources to get huge amount of information regarding our social life. Then only we can apply these benefits to revolutionize social welfare.
Small business owner may think that big data is for large companies with big time technology budgets. In reality, it is not. Small business can also stand for big data benefits within available – small budget. A small business needs to look at big data in different perspective as they may not know how to start and where to start or may not know if big data exist in the company.
Hiring right talent according to the need is the key factor for a company to be successful. “A good fit for the job equals a good fit for the company” is one of the most appropriate quote during hiring a resource.
Big data value chain is mainly divided in three steps. They are data integration, Big data development, and Big data analytics. We need different skilled resources for these three different phases. A person should be hired when his skills meets the needs of the requirement. Let’s look at these steps one by one..
- Data Integration– As we know that in Big Data, data comes from multiple sources. Connecting these data from different sources leveraging big data technology through big data lab, Amazon web services etc. for collecting data and ingesting to the operations is called Data integration. Data coming from different sources have to connect with the appropriate technology. We need ‘Big Data Admins’ for this purpose who will able to make connection between these two, they must know how to use different data integration tools i.e. Sqoop, Flume, etc.
- Big Data Development– Data comes from different sources in structured, semi structured and unstructured form. Those data need to be stored in an organized manner so different development tools can read it for processing. We need big data developers for this purpose who knows the different data processing technologies like Hadoop, Informatica, Teradata, etc. Their work is to make the data to be readable by data processing technologies. They should also know about different database in which data will be stored.
- Big Data Analytics– This stage contains data processing and converting the processed data for the decision support. Data analysts and Data scientists work in this phase for analyzing data to find out hidden pattern in the data and build statistical models. One of the favorite definitions for data analyst is “A data analyst is someone who is better at statistics than any software engineer and better at software engineering than any statistician.” – Josh Wills” This one line defines the characteristics and needs of a data analyst. A data analyst must be good at problem solving. Companies generally prefer engineering, statistics or computer science background people for this role.
To summarize, some of the key skills needed for Big data team are as follows:
- Hadoop– It is one of the famous big data working framework. Big data people must know this framework.
- NoSQL– On the operational side of Big data field distributed storage like HBASE are used. To work on these databases NoSQL should be known to the person.
- Statistical analysis– This is one of the important skills to be in a big data person. They should be familiar with different statistical modelling tools like R/Revolutio, SAS, SPSS, Alteryx, Mahout Libraries, Matlab and there are many more
- Data Visualization – Person should be familiar with different visualization tools like Tablueau, Spotfire, Qlikview, Rapid miner, MS Excel, etc.
- Programming language– Person to know the general purpose programming language like c, java, python, etc.
- Problem Solving– A big data person must be good in problem solving. So, they can find the solutions of different problems during the analysis.
Big data is comparatively a new field with a lot of opportunities. During hiring process, Companies need to pay attention to what they wanted and go for that. Though, it is not advisable to find people having expertise in all big data tools in three phases mentioned here and it is not necessary. But, it is important that people have a bend of mind for learning new tools.
Defining, articulating and representing business problems is a crucial initial step in any Big Data initiative. To deliver quick results from big data, it is good to have powerful and well organized analytic capability. And, if not? Nothing to worry. Reach out to a right big data partner who can deliver quick results – this could be a Proof Of Concept (POC). Once recognize the POC is successful and could generate business value – yes, go ahead to the next level.
‘Big Data’ is the word which appears on everybody’s lips these days. In recent years, there has been a huge hype of ‘Big Data’ which is use to analyse by different companies and vendors to capture meaningful insights from a vast amount of data that can be used to improve business and decision making. When the data is too big, and too diverse to handle in standard database; then it is called big data.
As it is clear from the above that big data is huge collection of data. So, it is impossible to use all that data at a time. You can, however, make use of a small portion of the data that is beneficial for your business.
Unfortunately, many small and medium size companies are missing out on the benefits of utilizing big data because they believe that leveraging big data is too costly and too complex. But the truth is that big data is neither too costly nor too complex. Small and medium size companies can also leverage big data because Big Data solutions have become much more affordable in recent years.
There are many ways by which small and medium level companies can leverage big data. Here are just a few ways small and medium size companies can leverage big data towards their success.
Look for unused data– Small and medium size companies should look for those data which never used in the entire value chain. These data can be their feedback by customers, emails, vendor transaction, and many more. By leveraging these data, we can get some meaning insight that can be used to improve the business – the way it runs and operate.
Look for affordable and effective big data partner– Small and medium level companies can outsource their data to a suitable third party vendor for processing because developing internal capability may not be a wise decision for them at the initial stage. So find an affordable and effective big data partner for your success.
Go for small– If your company is small and medium level; then go for a small start towards big data. After getting some quick positive results from the vendor then only go for big implementation.
Look for the necessity – Small and medium size companies can go for leveraging only those part of data, where analysis is required. Analysing the whole data can be a waste of time and money for them.
Location– Cost is an important factor for any size companies including small and medium size companies while leveraging big data. So, find suitable big data vendors – today there are good small players in the marker out there where you get what you wanted at lesser cost at higher quality and quick turnaround. For eg: leveraging big data is costlier in USA rather than leveraging in India.
Adopt new tools and techniques- For collecting and leveraging big data; use new tools and techniques from the market – essentially freeware.
Every business needs to know the way to success and increased ROI. Leveraging big data is useful for all level of companies. The point is – how you are using and implementing it. According to a survey of Gartner, investment in big data technologies continues to expand every year. They found that 73 % of respondents have invested in big data or have plan to invest in big data in next two years. So, if you are a small or medium size company and thinking that big data is not beneficial for me then for sure you are leaving your boat.
In today’s tough competition, big data analytics is playing a vital role in deciding the winner of the market place. Today’s business is mostly centred on the customers, especially retail sector. So, companies prefer to craft personalized marketing strategy according to the changing behaviour of customers. If ‘Technology’ brought big data concept; then ‘Marketing’ used it most for the organization’s growth.