Big Data Analytics Will Drive the Future of Technology Business to Success

Posted December 10, 2016

Bdaas’ Significant Opportunity for Service Providers

“Data is everywhere, and its ubiquity and utility are improving our lives in many ways. Companies today are recognising the immense business value that can be delivered using data. We are, in fact, witnessing a data revolution, driven not only by the abundance of data today, but also by the key technologies that are changing the way we gather, store, analyse and transform information,” said Manish Mittal – Managing Principal and Head of Global Delivery, Axtria. Every human interaction is now getting captured across multiple platforms generating a repository of what we know as Big Data. The data volumes are exploding leading to the massive increase in more complex, more varied and less structured data which needs faster processing. Meeting such requirements is posing an enormous challenge for traditional databases and scale-up infrastructures. Here, Big Data-as-a-service (BDaaS) comes into play.

“BDaaS technology is a significant opportunity for small businesses and organisations as it offers new competitive advantages along with efficient management of customers and the market to secure business growth. It is highly accessible due to reduced costs of data processing efficiencies,” added Mittal.

BDaaS Help SMBs Solve their Data Quandaries

There was a time when companies would need to invest heavily in setting up their in-house data centers along with internal data scientists’ team to maintain and service the data infrastructure. With the rise of cloud-based infrastructures and analytics, data storage has become simpler and scalable. “The global business spends on cloud-based data analytics services is expected to increase from the present 15% to 35% in 2021, which makes Big Data-as-a-service an excellent opportunity for the service providers. According to a report by Gartner in 2014, Indian businesses were set to increase spending on business intelligence and analytics software by 15%, to reach a total of 8,228 crores in 2014,” explained Mittal.

The service providers can address the BDaaS offerings in multiple ways. These include Cloud Infrastructure – leveraging Infrastructure-as-a-service, particularly Computer-as-a-service and Software-as-a-service; Data Management Services – which includes Platform-as-a-service, Data-as-a-service and Database-as-a-service. BDaaS addresses the challenges of big data processing to increase enterprise competitiveness, productivity and stability through the insightful implementation of valuable information.

Big Data Analytics Will Drive the Future of Technology Business to Success

With Big Data analytics solutions increasingly being made available to enterprises in the cloud, more and more companies will be able to afford and use them for agility, efficiency and competitiveness. The key drivers include digital transformation initiatives being undertaken by a lot of enterprises; the merging of real life with digital identity as all forms of personal data becomes available in the cloud; availability of multiple payment and usage options for BDaaS; and the ability of BDaaS to put more analytics power in the hands of business users. Also with the increased amounts of big data fluctuating, small businesses can employ available BDaaS techniques and services to sustain and succeed in the competitive environment. “Business growth is nowadays dependent on obtaining valuable insights on the patterns of behaviour, as well as changes in the market and reacting appropriately to these properties. BDaaS technology addresses these needs in much cost efficient manner,” concluded Mittal.

Source: PCQuest