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Information Technology & Big Data

The next revolution in Information Technology is Big Data. Companies are willing to make huge investments in this domain. 10% increase in available data may yield up to $65 million increase in net income for Fortune 1000 companies. Unfortunately, they have been largely unsuccessful to harness this opportunity. Information Technology companies and service providers hence need to take a review of how their services would now be based on solving their clients Big Data Problem?

Companies like Google and Facebook are demonstrating that a solid data management strategy can make a huge difference to a company’s bottom line. Corporations everywhere are paying attention; C-level executives are waiting to make decisions through insights gained from analyzing Big Data. As a result, companies are promoting IT from cost center to partner in strategic data management.

Unfortunately, most of the companies have been largely unsuccessful to harness this opportunity. Information Technology companies and service providers hence need to take a review of how their services would now be based on solving their clients Big Data Problem?

Why Big Data Cannot Be Ignored?
  • Are you competing in Real Time: Big Data analytics allows insights from large volumes of data. Use of tools like Hadoop, SAS, R, Python etc. helps companies drive correlation and arrive at informed conclusion; a conclusion imperative to in business decision making. From IT partner perspective the IT/ITES companies need to help their customers in:
    • Reducing Cost of Running Business,
    • Improved Decision Making,
    • Identify New Products & Services.
  • From Data Warehouses to Data Lakes: When the business is digital, data keeps flowing in all the time. Since 80% of data flowing into the company is unstructured planning and optimizing infrastructure is essential. “Data Warehouses” are evolving into “Data Lakes” that need to be optimised consistently lest they turn into “Data Swamps”.
  • Internet of Things: Data is now beyond conventional IT devices including handhelds. IoT and wearables are new data generating touch points that bring in humungous amounts of data into the Data Lakes. IT/ITES companies need to factor in IoT as one of the key data sources for Database Design and Management.
Challenges

Big Data is a promising future, however according to a Gartner survey, it was found that companies still don’t have a good idea as to what they are doing and why. Big Data may come with high expectations but here are the key challenges:

  • Slow Onboarding of Data from Growing Variety of Technologies.
  • Poorly recorded Data Provenance.
  • Help Consume difficult Target Data
  • Industrialising Big Data environment – difficult to manage.

IT / ITES companies that provide IT and related solutions to their customers needs to be Big Data experts in order to help their companies take control and advantage of unstructured data flowing into their Data Lakes every second.

The Data Lake Journey

The Data Lake concept is well taken by the enterprises to capture data and store raw data of many different types and scale. While consumer facing web-based companies were the first ones to implement Data Lakes but now everyone is looking to implement data lakes for their respective businesses. How do IT / ITES companies help their customer implement Data Lakes, namely inexpensive storages and schema flexibilities? How do they enable insight discovery?

Advantages of an upskilled Workforce

  • An upskilled workforce will be able to easily unify data from more sources and reduce data onboarding time.
  • They can federate and query virtually – any data from the Data Lake.
  • They are easily able to put all data to action together.

How can SkillUp Technologies help you leverage Big Data?

(Leave us a line, if you have not done so already and we shall get in touch with you)