Data has got the status of an asset in today’s competitive business world and almost all companies are aggregating it from as many sources as possible. The importance of Data is tremendous for the business community and they have acknowledged it. To measure data against the right metrics and expected outcomes, data analytical tools are used extensively. The scope of these services is very huge. The revenue from data analytical tools is going to increase by 50% to around $187 billion by the year 2019.
It is essential to leverage data analytics tools and techniques as the companies that are not deploying it are falling behind in terms of customer acquisition or competitive growth. As data analytical tools collect, sort, and analyze data and thereafter provide information and predictions, they can be effectively used to predict future trends.
Big data is both a marketing and a technical term that refers to a valuable organisation asset – information. It also represents a trend in technology that is leading the way to a new approach in understanding the world and making business decisions. These decisions are made based on very large amounts of structured, unstructured and complex data – such as tweets, videos, commercial transactions – which have become difficult to process using basic database and warehouse management tools.
Why Big Data Management
The biggest advantages of Big Data Management are:
Most technical errors originate from human error rather than technical glitch. Even more reason then, for organisations to put governance programmes in place to ensure that with big data comes great reward, rather than incorrect data and unexpected costs.
This is certainly easier said than done – but not impossible. Our expert can support you to create the right tools that satisfy your business needs and help your organization to stay in control.
Big Data Management Tools
By using data analytics tools, you get to utilize a lot of built in functions rather than having to design the same from scratch. They not only accelerate the value you derive from Big Data analytics, but you also get better quality insights in quick time.
Data Analytics Stage
The amazing ability of Big Data to dramatically enhance the customer experience and transform business models has made it one of the premier innovations of the current decade. For a company to use its data to the best advantage, it has to convert the data into knowledge.
Data analytics tools come in to picture here. For example, manufacturing companies can monitor data coming from machine sensors and with the help of Data analytics, can modify the machine processes before a catastrophic event happens.
Data Analytics Stage
By placing the crunched data in a visual context, it becomes much easier for people to understand. This is the USP of Data visualization. By placing the information in a graphical format, the information is communicated clearly and efficiently. It is the final step in the Data analytics ladder. Some of the popular and important tools used for Data visualization are Tableau, Qlickview, and Power BI.