Last updated on October 24th, 2023 at 05:20 am
How big data is changing disruptive innovation?
It is for sure that big data has grabbed the attention of many as the businesses have understood its prominence in this technology-driven world. The meaning of big data goes by its name it refers to a large sum of data to be handled efficiently for a productive business. Online giants who rule the world of technology like Amazon, Facebook, Microsoft, and Google together store about 1.2 Million terabytes of data.
Which is really a staggering amount of data and now we know how influential are they to the society. A new update from DOMO states that approximately 2.5 quintillion bytes of data is being generated every day and the number is going to increase exponentially. So, this has ideally remarked an era where talented data scientists are on a pinnacle and young aspirants choose data analytics training to land on their dream career.
Understanding disruptive innovation
Well, you must read somewhere that "90% of the world's data is being created in the last couple of years" this is credited for the growth of online. Disruptive innovation can be termed as a new concept or model which alters the function of the monotonous market and influential in creating a new flow in the market. This disruptive innovation creates a disorder in the market place with its bang.
Impactful big data on the limelight
We often notice new innovations in technology and the way it affects business. Off-late Big data technologies like Hadoop and NoSQL has created quite a stir in the minds of businesses about convincing the customers. Wings of big data like big data analytics course are vital for data science aspirants to identify hidden patterns to understand customer preferences. Big data has jeopardized the conventional flow of the market by inducing advanced computing and eliminating the traditional way of computing for better business.
Let us look into four ways by which big data is changing disruptive innovation:
Big data proved trust-worthy
You may notice that when new technology is introduced in the market, the market takes a while to completely adopt it. But this was not the case with big data due to its flexibility and impressive tools used to leverage profitability in business. Companies invest in employees who learn these tools to keep them par with the trending market scenario.
Ease of access and flexibility
The smooth transition in the software we use in mobile and computer systems induced by big data is quite enjoyable and user-friendly. Users have become more dependant on big data for it has altered the prospects of users on new technologies. Thanks to Hadoop and NoSQL technologies of big data which has created a revolutionary impact on businesses.
Spending for a positive impact
The need for big data and data analytics is different for different companies. Hence, the money spent on big data also varies. But, the companies are spending a huge sum on big data confidently as it proves to be worthy enough. Businesses pay for big data but proper use of tools and techniques in big data may eventually lead to saving a lot of money. It is a kind of predictive science which monitors previous trends and forecasts future trends.
Action and accomplishments
Big data has been successful in creating a satisfied customer base for business by identifying and understanding the needs of the customer beforehand and diverting the business to concentrate on the right track. Target marketing strategy in big data has aided businesses in achieving long-term growth and stability. When new technology enters the market, it is obvious from the customer end to expect certain changes in its attributes, whereas big data leaves the customers surprised with its functionality which other disruptive inventions failed to do so.
To sum up
Convenience and usefulness of big data have made people realize the way a disruptive innovation should work like. When innovations meet the expectation of the customers it is accredited as a technology that helps a business in gaining a competitive edge. Unlike other disruptive innovation, big data is assisting businesses in identifying market trends and disruptions to grab the opportunities, upon failing to take the first step the competitors will surely do so.
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