Here we get to know that how companies can use systems of insights platform to improve the data sourcing, analysis and insights and how they are managing their data. Recently TIBCO has also published a webinar on know the answer of this question. According to director of analytic strategy, Shawn Rogers that how closed-loop SOI platform offer a continuous learning solutions. All the experts are always in search of getting good or valuable data so that they can get best from that by using their analytical skills.
Those companies which will go with SOI platforms are digitally driven and can also include analytics all this will help them to achieve improvements in revenue, customer experience, operation efficiencies and product innovation and many more benefits as well. In this webinar some big statistics are kept aside like according to Gartner, predicting 75 percentages of big and medium size organizations will compete using propriety algorithms and insight driven businesses will chase $1.2 trillion from others by the coming year 2020.
According to Rogers, "systems of insight is improving what we're doing with analytics and taking people's analytics practices to that next level". How data can be improved is the second step first we should know that how big companies are managing big data. Big companies manage their data by translating the knowledge into improved decision making and performance. Big data can bring about dramatic cost reductions, substantial improvements in the time required to perform a computing task, or new product and service offerings. It can also support internal business decisions. Also they manage their data by collecting vast amount of information about their customers.
Earlier all companies were using RDBMS to store their data in which we can read once and write n number of times which is not applicable to read huge amount of data. So Doug Cutting come-up with a solution as Hadoop which is based to work upon huge data sets in distributed and parallel fashion. In Hadoop we can write once and read N number of times HDFS is used to store data into cluster (Group of nodes) and we can process the data accordingly to the need of the company using Map-Reduce. Sorting, Filtering, Partitioning and bucketing if required of data is done to compute the result. This is the modern and precise way of companies to use their data.
NOSQL databases are their like mongoDB, HBase, Cassandra to store huge sets of data and we can also utilize our data through RDBMS by using Sqoop. Exporting and importing of data in today's era is simple, strategic, robust and dynamic. But some organizations are still struggling to secure their data.
Following are the five steps to better manage the data:
- Emphasize on Information rather than data center: Organizations should emphasize on information rather than data center or building the information's. Key technologies include virtualization, cloud computing and mobile devices and applications.
- Gather Insights: Firstly find your information and distinguish that which information is more important and relevant. Most organizations lack basic knowledge like who owns specific information, how important the data is or even whether it is personal or business in nature. You need to map and classify information to discover its relative value. Once these things are done then it's easy to prioritize security, protection and management resources for the information that really matters.
- Should be Competent: Use re-duplication and archiving technologies to protect more while storing less. Only store what you really need.
- Setting Policies: It's very important to establish consistent policies for insights that can be enforced wherever the information resides, whether it is present in the form of physical, virtual or cloud environments. This unifies information classification, automates discover of who owns and uses specific information, controls access and distribution, automates information retention and deletion and speeds the process of e-Discovery.
Hence to stay agile organizations should manage their data and also improves the way how they are handling their data. This will lead for the continuous growth of the organizations.