Technological Innovation Driven by Big Data

Technological Innovation Driven by Big Data

G. Taviti Naidu, K. V. B. Ganesh, V. Vidya Chellam, S. Praveenkumar, Dharmesh Dhabliya, Sabyasachi Pramanik, Ankur Gupta
Copyright: © 2023 |Pages: 20
DOI: 10.4018/978-1-6684-5656-9.ch013
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Abstract

Large-scale research evaluations, as well as the acquisition and analysis of massive amounts of data, in order to follow trends and models form the organization. As the world around us continues to change, many entrepreneurs are interested in learning how big data might help them enhance their businesses. While businesses have traditionally analyzed data, recent technical advancements have spawned new entrants and unlocked the potential of big data. The extent of the consequences of big data, according to an SNS research, is presently $57 billion and expected to rise further.
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Automation

By robotic process automation, big data has the capability to intensify competence and functioning in an organization. For automated decision-taking, large volumes of real-time data can be processed fast and consolidated into corporate functions. Computerizing data collection and storage is achievable due to scalable IT framework and reduction of cloud computing costs.

Detailed Insights

Big data can be utilized to expose chances that organizations were ignorant of earlier possessing the ability to evaluate large volumes of data. Also, the forming of newer or enhanced elements can be done utilizing composite data sets. Market-dependent proprietary data is useful in a cutthroat atmosphere.

Superior and Quicker Decision-Making

Organizations may now rapidly evaluate knowledge and take educated, informed choices and courtesy to the speed of data analysis frameworks and the enhancements to survey newer origin of data.

How to Use Big Data to Your Advantage

The necessity for big data analysis is extensive; since 2015, more than 55% of major firms made investments in big data technology. To handle the many potential data points, it might be difficult to know where to start.

The following factors should be taken into account by enterprises before choosing and establishing a big data solution.

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