The digital era wants your business to stay ahead in the game. Organizations are digitally transforming on the whole, right from its infrastructure to people management. Resources that stayed hidden for a long time are now key to an enterprise’s success. Undoubtedly, the primary reason behind is big data technologies
Gartner defines big data as “high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of data processing, enabling enhanced insight, decision-making, and process automation.”
In general, benefits of big data technologies are huge. It should be noted that the biggest industries of the world, including Banking, Manufacturing, and Governance, were the first ones to adopt it.
Big data simply implies data assimilated at a massive scale. Consequently, the next step is to break it down to meaningful insights and carefully plan a business’s future approach. Ever since its origination, the term has received significant attention and involvement. Concepts of big data can offer a competitive edge to varied departments of a business such as support team, production and manufacturing units, risk evaluation, disaster prevention, and lots more.
Here Are the Top Big Data Technologies Your Business Must Use in 2020
One of the most popular and highly revered big data technologies is Analytics. In general, analytics refers to understanding and evaluating the trend of any given amount of information.
Four forms of analytics, namely Predictive, Prescriptive, Descriptive, and Stream are used to provide business with timely insights.
Predictive analytics uses historical data to model the future performance of a business. The concept finds massive use in industries like cybersecurity, retail, and healthcare.
Prescriptive analytics analyzes specific situations and how to address them using existing resources, past experience, and current performance. Several techniques like heuristics, simulation, and complex event processing are employed to reach potential remediation.
Descriptive analytics uses past records to interpret business changes and challenges.
Likewise, stream analytics collects live data in many formats and uses various techniques to gauge insights.
2. Artificial Intelligence
The simulation of human intelligence has offered huge breakthroughs to companies namely Uber, Google, Amazon, and more. AI holds the key to advancement. Global companies around the world are investing every single penny of the budget to create quantifiable results.
By following its two subsets, deep learning and machine learning, AI is a massive engine to growth.
3. Data Lakes
A data lake implementation can help business leaders act upon opportunities faster. Data lakes are huge centralized repositories that allow storage of structured and unstructured data, irrespective of their size.
4. Apache Hadoop
An open-source framework, the Apache Hadoop ecosystem allows distributed data processing for large data sets. In spite of being not as popular as its other big data technology counterparts, Hadoop has received greater recognition due to its problem-solving utilities.
5. In-Memory Databases
Last but not least, in-memory databases are one of the other most popular big data technologies right now. Generally referred to as IMDB, this is a database management system that primarily stores data in memory rather than disk storage. If such a framework is deployed, the result is faster processing of information.
This technology finds application within many smart technology applications that require impromptu or instantaneous data processing. Additionally, the service is widely available from providers like Microsoft, Oracle, IBM, and SAP.