Big Data is basically a term used for data sets that are so complex and massive that a traditional data processing application is inadequate to store and analyze it. It’s not the size of the data that worries corporations, but what exactly to do with it. Big Data can be analyzed and investigated for insights that may lead to better and improved strategic moves and business decisions.
While the term ‘Big Data’ is relatively new, the process of storing large amounts of data is decades old. Big Data can be characterized by its volume, variety, and velocity making it multi-dimensional.
Cloud computing, on the other hand, is the process of storing data over the Internet instead of on a physical hard drive. Cloud computing can be stored on servers, networks, storage applications and services, and can be accessed on-demand by any authorized authority. Cloud computing has become a hugely demanded service due to increasing inflow and outflow of data in big multinational corporations.
With an online connection, any data anywhere in the world can be accessed and made use of. This offers corporations ease of access. Cloud computing is a big business with the market already generating $100 billion in 2012. This figure is expected to reach $270 billion by the year 2020.
Pros of Big Data
There are various benefits of using real-time Big Data analytics. Some are listed below:
- Big Data allows organizations to investigate errors caused either knowingly or unknowingly. This, in turn, leads to companies mitigating the errors which can result in a reduction of catastrophic losses.
- The level of service improves drastically. The improved levels of service provided by organizations can lead to higher revenues and profit levels. Organizations can respond to faulty services and react proactively.
- The use of Big Data software and applications can help businesses keep up with consumer trends. Faster decisions can be made regarding promotions and sales, keeping in mind the customers’ needs and wants.
Pros of Cloud Computing
Cloud computing can reap massive benefits for any organization. There are many advantages of using cloud computing. Some of them are as follows:
- Cost Savings: The most significant benefit is perhaps the level of cost savings associated with cloud computing. Businesses, no matter what their size, seek out cost-saving methods. The lack of physical infrastructure allows them to save costs adequately.
- Strategic Edge: The implementation of cloud computing allows businesses to gain a strategic edge over their competitors. Not worrying about crucial data falling into the wrong hands allows them to make key day-to-day decisions effectively.
- Reliability: Almost all of cloud computing software is considered more reliable and consistent than in-house applications and infrastructure. The chance of these applications failing at a crucial juncture is almost nonexistent.
Big Data and cloud computing bring maximum satisfaction to corporations. The use of these applications has made previous seemingly impossible tasks just a click of a button away.
The 21st century has enabled us to store and make use of large amounts of data that can be used and manipulated in any way possible. From keeping track of consumer trends to predicting weather patterns, Big Data and cloud computing has made life easier for organizations.
The technology sector is one of the fastest growing industries all around the world and, therefore, huge leaps in Big Data and cloud computing are expected over the coming years.
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