You cannot achieve tomorrow’s results using yesterday’s methods, and this line is the need to understand and accept the impact of BIG DATA and growing demands of business.
Big data means access to big information, leading to abilities in doing things you could not do before.
Case in point – a small exercise…
Before you read ahead, check the posture you are sitting in, now look around and check the posture of others sitting beside you, observe… what do you see? Someone is slouching. Someone has their legs crossed, elbows resting on the armchair, palms pressed against their chins, a constant moving of the limbs. Not everyone sitting around you has the same posture. What if we put many sensors on the chairs around you to help record and create an index, which is unique to you, which says person X sits in these particular postures during specific intervals of the day?
In addition, say what if this data was sold to car manufacturers as an anti-theft design to help recognise that the person sitting behind the wheel is not the same and say until he keys in a password the car even though entered would not start.
Now imagine what if every single car in the world had this technology, think of the benefits of aggregating this data. Maybe we would be able to predict which postures while driving would lead to an accident say in something as close as the next 7 seconds do, and alert the driver to change position or take a break from driving.
Now my dear reader THAT is the power of BIG DATA. It can help record, collect, understand, predict, and prevent events from a random collection of information.
So if that is so useful where lies the problem? Why is the world not already a better place?
Because there is a gap between opportunity and demand in skilled professionals to help comprehend and present valuable insights into specific relevant trends, big or small from the available data.
Big data is all around us and there is a calling need to preserve all the generated data for the fear of missing something that could be important. Hence, comes the need for big data Analytics, Big data is crucial to do better business, to take accurate decisions and in always being a step ahead of your competitors. Therefore, if you are a professional in the Analytics domain there is a sea of opportunity waiting for you to dive in.
Big data Analytics is Unfathomable and depending on the environment one can choose from
- Prescriptive Analytics
- Descriptive Analytics
- Predictive Analytics
Big Data Analytics market is predicted to surpass $125 billion in between 2015 – 2020, which in turn in some sense means handsome pay brackets for the skilled individual.
- Salary Aspect
To improve the performance of the organisation, most companies have either already implemented or are in the process of implementing Big Data Analytics, as they already have the data at their disposal.
- All Organisations adopting some form of Data Analytics = Growing Market
There is a big gap in skilled professionals who are able to convert the data available. The ability to see small trends from the pool of big information. Which ultimately advances the organisation in the right direction. There are two types of talent deficits. Data consultants – who have the ability to not only, understand but also use the data at hand in the appropriate way and the other is Data Scientists who can perform analytics.
- Skill Deficit
Big data Analytics is not restricted to any specific Domain; it can be and in recent times is being used in Healthcare, Automobiles, Manufacturing and more, creating a massive global demand.
- Global demand across industries
Analytics becomes a competitive resource for organisations, according to certain studies Analytics has already become the most important asset in current times. Because we are emerging from the undeveloped analytics trends to more advanced forms. It is undeniable that Analytics plays a vital role in decision making and taking strategic initiatives for the business.
- Importance of Analytics for Better Decision Making in Organisation
So in deduction to the above, Analytics no matter how advanced is human dependent. These are exciting times for skilled people who can comprehend data and give valuable insights from the business point of view. A trained individual with the right Analytics insight can master an ocean of big data and become an indispensable asset to the organisation becoming a springboard to the business and their career.
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