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Making Use of Big Data is Top Priority Featured

Making Use of Big Data is Top Priority

Last year was a tough year for any organization, regardless of the industry they operate in. Many things did not go as expected. The pandemic hit many businesses to an extent never witnessed before, with some of them even closing altogether due to the adverse effects of the pandemic. During the crisis, IT became a solution to many problems as people were forced to work from home. One thing that stood out in all this is big data and big data analytics. It is clear that with the right technology thatprovides actionable insights, people can work from home and still be as productive as working from the office. Here are some big data trends that will alter the tech landscape in 2021.

  • Actionable data

The number of data sources is growing each day, which is a good thing for some, but not for digital marketers who see it as a source of many challenges. Although actionable data is something that has been trending for over a decade, 2021 will be a year that big data will become actionable and will be used to create more value. With this, expect improved data collection, governance, integration, analysis, and visualization. This will make data more actionable and insightful, which is something good for decision-making.

  • Big data in the development of effective talent strategy

Data is critical in developing a data strategy that drives the business and goals of an organization. As the employment landscape becomes complex, organizations will use data to inform plans for improving critical employee aspects such as motivation, retention, identification, and engagement, to name just a few. From now into the future, data from various sources are likely to be collected and aggregated with business intelligence tools to get valuable employee insights to help businesses remain at the top.

  • Hybrid cloud

For the past one or two decades, cloud computing has emerged as one of the most transformational technologies after the internet. However, many companies are still skeptical about the security of data in the cloud. They are also concerned about other aspects such as low latency and privacy, all of which need to be improved for efficiency in operations. This has led to the adoption of a hybrid cloud that combines a private cloud with public cloud services and ensures flexibility and costs are addressed. In the coming years beginning in 2021, many organizations will adopt a hybrid cloud to strengthen security, ensure compliance, and enhance the speed of innovation and access to data. 

  • Location matters

There has been a significant focus on the soaring levels of data and how it can change fortunes for businesses. However, there is little talk about the variety of data thatis growing faster than expected. While variety can be useful as an enabler to business transformation, a variety of data from different sources can also be a challenge during processing and storage.  As the coronavirus continues disrupting workplaces even in 2021, digital transformation will come from looking into businesses from a different angle. Understanding businesses will shift to using location data from drones, satellites, and others with geolocation attributes to understand businesses better. In 2021, having a better understanding of the prevailing conditions, such as the demand for goods or services, helps a business optimize resources from personnel to finances and grow markets through cost-effective strategies. As we advance, any business's ability to incorporate geospatial data with other data and build a collaborative culture across the organization will be a crucial differentiator. The same will be the case throughout the value chain.

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Scott Koegler

Scott Koegler is Executive Editor for Big Data & Analytics Tech Brief

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