Technological advancement has provided businesses with numerous opportunities to leverage in their business field. The modern technological solution enables businesses to perform all their business tasks seamlessly and in a cost-efficient way.
Almost all businesses have to deal with a large amount of data these days. There are numerous sources like social networking sites, business websites, apps, etc from where entrepreneurs can avail of numerous data. And when it comes to managing and processing this data, then big data grasps the spotlight.
Dresner Advisory Services’ recent report shows that more than 53% of businesses are considering to opt for big data analytics. This modern technology has gained huge popularity among the organization as it helps them to maximize their business potential and helps them to take their business to the next level of success. One more modern technology: cloud computing has created a buzz in the market these days. Both technologies have been adopted by almost all sectors in recent years. Combo of cloud computing and big data analytics can prove very beneficial for businesses as it helps them to transfer their business and make it future proof.
What Is Big Data Exactly?
According to Gartner, “Big data can be termed as high velocity, volume, and different types of information which demand cost-effective and deep processes to have insight into process automation.” This technology allows businesses to use modern tools and techniques and helps businesses to have insight into their customer’s purchase behavior. Before the advent of this latest technology, it was quite tough for businesses to have insight into their customer’s purchasing behavior. Big data mainly encompasses 4 Vs:
- Volume.
- Velocity.
- Variety.
- Veracity.
The real value of big data can be experienced easily when businesses collect and analyze the right information to have insight and use the same information for enhancing their business process and performance.
What Is Cloud Computing Exactly?
Cloud Computing is a modern technology that provides virtual service to users who opt for it. These services are secure and reliable to use, businesses can easily access it through the internet after storing it on the cloud, it provides numerous opportunities to the business startups, this latest technology provides them with great storage facilities that also at a pocket-friendly rate, they can later analysis this data and can make use of same for enhancing their business activities.
In 2018, more than 3.6 billion internet users started accessing cloud computing services, while this number is quite high from 2013 as there were around 2.4 billion users during the period. According to Gartner, in 2017, there was around 18% growth for the cloud, this simply means it reached around $246.8B during the same year.
It was also found that more than 94% of businesses experienced an improvement in security improvements after opting for cloud solutions while 91% of government compliance was solved easily with the advanced technology, whereas more than 77% of businesses responded that cloud computing enables them with competitive advantages. (Source)
Explore To Know Which Advantages You Can Leverage With Cloud-Based Big Data Analytics
April 2018 Gartner’s report showed that Cloud Computing had experienced an increase in its user base and at the same time in its value as it has increased and has been reached to $153 billion in 2017, this value is estimated to grow high and reach to $302 billion by the end of 2021. According to another report by LinkedIn, it was found that Cloud Computing based skills are in great demand among the organizations during 2019, and the demand is expected to grow more during the upcoming years.
A combination of big data and cloud computing provides great opportunities for businesses. Businesses can easily leverage the efficiency of both technology to strengthen their business, this boosts their business success and helps them to satisfy all the needs of their business. Explore to know which benefits businesses can leverage the use of cloud-based big data analytics.
Save Time And Money
Businesses can integrate advanced data center solutions for their organization, this can help them to have insight into data and make use of the same for improving their business activities. Now businesses do not have to spend a huge amount on maintaining all the technical solutions. This ultimately results in saving a huge amount of cost and time for the organization.
With the cloud-based solution, it becomes easy for all the members of the business to access all the data and make use of the same, this saves a huge amount of time, which they used to spend on transferring and receiving files and other information through any of the networks.
Data Backup
A large amount of data is generated by organizations on a regular basis, thus it becomes essential for businesses to store all their business data in the safest and secure way. They can take the help of cloud computing and big data analytics to perform various activities on the data and store it in the most secure way. The cloud-based solution allows businesses to perform numerous processes on the business data, it also makes a copy of the data so businesses can retrieve the same whenever needed. This can help them to overcome numerous milestones like data theft, technical errors, and many more.
Mobile Access
It is predicted that there will be a drastic increase in the number of smartphone users by the end of the year 2020, it is estimated that it will reach around 6.1 billion by the same year, while more than 26 billion connected devices will be used by people worldwide. Thus it becomes essential for businesses to have their presence on the device where their customers are present. They can opt for advanced app solutions like instacart clone or any other to expand a business and reach more number of customers in less time. Besides this, they need to provide them with remote access whenever they need it.
This is one of the primary reasons due to which most of the organizations are an option for cloud computing, it provides entrepreneurs, as well as their customers with quick cloud access in any pf the device which they are using, thus it makes it easy for users to access any of the information or data from any of the place, and anytime they desire.
Share Information
Businesses deal with a considerable amount of data on a regular basis, they share the data, receive data, perform an action on data, and much more. Thus they need a one-stop solution from where they can access and share data without any hassle, and cloud computing provides them with one such solution. Now it is quite easy for businesses to receive, share, and retrieve any of the data they want, even if it is not as time-consuming as it during the past years.
Reduce Fraud
Nowadays, businesses need to deal with a great amount of data, which sometimes results in fraud. Thus they need to opt for the latest cloud-based innovations, which help them to eliminate the frauds.
Before the advent of cloud computing businesses used to make use of traditional methods for fraud prevention, but many a time, this traditional approach fails, which causes huge loss to the business. Thus it becomes essential for businesses to consider big data and cloud computing technology as it helps them to prevent fraud at the earlier stage, it provides automatic alerts when any fraud is detected and recognizes the problem and eliminates it at the early stage.
Concluding It Up
A combination of cloud computing and big data offers multiple advantages for businesses. These technologies are evolving at great speed and provide businesses with an affordable and accurate solution that helps them to perform all the action on the data in the most effective and systematic way.
