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5 Key Challenges In Today’s Era of Big Data

Digital transformation will create trillions of dollars of value. While estimates vary, the World Economic Forum in 2016 estimated an increase in $100 trillion in global business and social value by 2030. Due to AI, PwC has estimated an increase of $15.7 trillion and McKinsey has estimated an increase of $13 trillion in annual global GDP by 2030. We are currently in the middle of an AI renaissance, driven by big data and breakthroughs in machine learning and deep learning. These breakthroughs offer opportunities and challenges to companies depending on the speed at which they adapt to these changes. Modern enterprises face 5 key challenges in today’s era of big data1. Handling a multiplicity of enterprise source systems The average Fortune 500 enterprise has a few hundred enterprise IT systems, all with their different data formats, mismatched references across data sources, and duplication 2. Incorporating and contextualising high frequency data The challenge gets significantly harder wi…

How Big Data Analytics Can Help You Improve And Grow Your Business?

Big Data Analytics There are certain problems that can only solve through big data. Here we discuss the field big data as "Big Data Analytics". The big data came into the picture we never thought how commodity hardware is used to store and manage the data which is reliable and feasible as compared to the costly sources. Now let us discuss a few examples of how big data analytics is useful nowadays. When you go to websites like Amazon, Youtube, Netflix, and any other websites actually they will provide some field in which recommend some product, videos, movies, and some songs for you. What do you think about how they do it? Basically what kind of data they generated on these kind websites. They make sure to analyze properly. The data generated is not small it is actually big data. Now they analysis these big data they make sure whatever you like and whatever you are the preferences accordingly they generate recommendations for you. If you go to Youtube you have noticed it kn…

Introduction to Data Science: What is Big Data?

What Is Big Data First, we will discuss how big data is evaluated step by step process. Evolution of Data How the data evolved and how the big data came. Nowadays the data have been evaluated from different sources like the evolution of technology, IoT(Internet of Things), Social media like Facebook, Instagram, Twitter, YouTube, many other sources the data has been created day by day. 1. Evolution of  Technology We will see how technology is evolved as we see from the below image at the earlier stages we have the landline phone but now we have smartphones of Android, IoS, and HongMeng Os (Huawei)  that are making our life smarter as well as our phone smarter. Apart from that, we have heavily built a desktop for processing of Mb's data that we were using a floppy you will remember how much data it can be stored after that hard disk has been introduced which can stored data in Tb. Now due to modern technology, we can be stored data in the cloud as well. Similarly, nowadays we noticed …