The Potential Of Big Data and Analytics

February 13, 2017
Big Data

Since the time its popularity hit the roofs, there’s one statement about Big Data that’s remained a constant. “It isn’t about what you know, it is mainly all about what you do, with what you now.” While this may seem as a bit of gibberish to some, industry experts claim that it happens to be a valuable lesson, that companies across the globe will soon end up learning, in the coming years, especially when it comes to the field of Big Data.

Innumerable industry experts among us claim, that 2017 will be the ‘It’ year. The year when data science and big data are bound to go mainstream. Did you know that there are a number of teenagers out there, who are entirely dependent on Google analytics to monitor their brands, regardless of their size. There are a number of parallels drawn between, the thriving start-up culture on one hand, and the increasing developments in the field of predictive analytics and target marketing.

As we are well into the year of 2017, it can be noted, that there are a number of changes in store for Data Science. There are signs of a meaningful shift, gradually taking place when it comes to business and big data. It probably would be the first time, when data analytics, would be the driver of a number of business operations. This change will be a very rewarding proposition for all of those working in the data science industry. While on the other hand, those companies who are lagging behind in this race of technology, could be in for some serious liabilities.

According to Harvard Business Review, “A majority of business outfits today, are nowhere close to recognizing the value and benefits, that data analytics can bring to their firms.” Industry experts believe there happen to be a number of reasons for the same. From lack of communication to absolute absence of a proper, well-designed plan could result into businesses, being entirely oblivious to kind of benefit data analytics can bring. While this news may lead you to panic, there are still a number of things that you, as a business entrepreneur can do and you, as a data science professional can be well aware of.

When it comes to gathering the generated data, almost every single person in the company must buy into the value analytics. If your firm fails to do so, it runs the risk of your company ending up with data, that is either worthless, or enormous amounts of data insights, which will rarely be put to use. Every company and firm out there, needs to make a proper action plan, especially when it comes to the professionals, who are responsible for managing data, reporting it, gathering information, inputting the data and most importantly, who analyzes this data. If these processes aren’t outlined properly, your data will almost never pay.

As the whole world comes to terms with the potential of Big Data and data analytics, there is an increasing need for trained professionals, who are adept in working with data analytics tools. A number of data enthusiasts have begun to look for institutes like Imarticus Learning, which will offer them industry endorsed training programs, in various data analytics tools like R, SAS, Python, Hadoop and so on.

Post a comment

2 + 3 =