Big data management helps a company understand its customers better. It helps you develop new products as well as make important financial decisions on the basis of the analysis of large amounts of corporate data. As enterprises’ data stores are continuing to rise exponentially, managing big data has become very challenging. Organizations often find out that the data they have is old and out of date. The data sometimes also conflicts with other data in their systems or that it is simply inaccurate. Hence, the proper management of big data is crucial for an organization.
Big Data Management
The term Big Data practically refers to data stores characterized by the 3 Vs. These are – high volume, high velocity, and a wide variety. Big data management points at efficient handling, organization, or use of large volumes of structured and unstructured data that belongs to an organization.
Big data management is a broad concept. It consists of the policies, procedures, and technology used for the collection, storage, organization, administration, and delivery of large volumes of data both structured as well as unstructured. It also includes data cleansing, migration, integration, and preparation. Further, these are used for reporting and analytics.
Big data management relates to the idea of data life cycle management. This is a policy-based approach. You can use this to determine which data should you store were within an organization’s IT environment. Also, to find out when data can safely be deleted. But, why is big data management needed in an organization?
Need for Big Data Management
The aim of big data management is to ensure: High level of data quality. It also makes sure there is accessibility for business intelligence and big data applications. Corporations, government agencies, and other businesses employ big data management strategies. This, in turn, helps them keep up with the fast-growing pool of data. Big data management helps companies -Spot valuable information within large sets of unstructured data. It also helps locate information out of semi-structured data from different sources, such as call detail records, system logs, and social media sites.
- Revenue increase: Big data management is helping their organizations increase revenue. Additionally, 80 percent of people say that particularly data quality solutions help grow revenues.
- Improved customer service: Customer service improvement is the second-most-common benefit of big data management. Therefore, Big data management is needed for better customer service as well.
- Cost savings: Another answer to why is big data management needed is its contribution to cost savings. According to a lot of surveys, 50% of people say using big data efforts is helping them decrease expenses.
- Enabling new applications: Organizations report that when they have more confidence in their data it increases their innovation. It also inspires them to create new applications.
- Improved accuracy for analytics: The most obvious benefit of big data management is that it increases the accuracy of big data analytics. It also increases the reliability of the data. Good data coming into the analytics set the organization up for quality business insights.
- Competitive advantage: According to analysts, 60 percent of organizations using analytics reports a competitive advantage. Quality big data management efforts empower those analytics. Which in turn, allows the companies to overshadow their peers.
All you need to know about Big Data
|Introduction to Big Data||Career Options after Big Data|
|4 V’s of Big Data||Big Data for Business Growth|
|Uses of Big Data||Benefits of Big Data|
|Demerits of Big Data||Salary after Big Data Courses|
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