Businesses are now using smart devices heavily in day-to-day tasks. These devices send a large amount of data within a small amount of time. Such a huge amount of data leads to better accuracy, reliability, and reduced costs.
The downside to this technological advancement is the complexity of storing and processing large amounts of data. Most companies are out looking for a solution to this problem. As a direct result, more and more companies are now offering technical support for dealing with ‘big data’.
What is Big Data?
Big data is a collection of data acquired from different sources from both outside and inside your business. There are three basic aspects that make data ‘big’.
- Volume – Big data collected by businesses has exponential growth. The increase in data volume results from data collected from transactions, social media, web clicks, etc.
- Velocity – Big data comes in quickly, at high velocity. It has to be collected at high speed with sophisticated technology.
- Variety – When we talk about big data, we need to talk about every possible type of it. Today, data banks have to store and process both structured and unstructured data. Big data can also be in the form of numbers, videos, emails, and images.
What Are IT Companies Offering?
As a solution to handling big data, IT companies like HP, Oracle, and SAP offer in-memory database technology kits. You need to purchase the kits and then let the software analyze your raw data to convert it into useful information.
According to George Frangou, Chairman Massive Analytics, HP Haven, Oracle Exalytics, and SAP HANA essentially use the same base code. He also said that these companies are designed to earn money rather than helping businesses.
He shared that using these large companies’ kits is not cost-efficient. Cloud-based analytics do a better job of helping businesses absorb and analyze big data. The only reason companies don’t see the immediate advantage of cloud services is because they’re not aware of it.
Why Is Cloud a Better Option?
Cloud-based analytics offer many advantages over traditional database analysis technologies. While IT companies only offer data processing, cloud services like eNlight offer data storage in addition to data processing. So, you can store a large amount of data without bearing the cost of extra hardware.
Moreover, you can manage your resources more efficiently using Cloud Services. You can scale them up or down according to your needs, or even automate the procedure.
You can take advantage of the resource analytics option offered by eNlight. ENlight’s graphs show the amount of resources you’ve used. They also predict the amount of resources you’ll need in the future. These all help you to take better, more accurate decisions.
New technology allows businesses to obtain better, more accurate information. This information is required to take well-informed decisions. But, big data is just plain too big to be processed the old way.
A solution to the problem with analyzing big data is cloud-based data processing. You can store as well as process the data. You can also make predictions and bring down your costs.
What qualities do you look for in solutions for big data analysis? Share with us!