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Digital Transformation : Big Data & Its Challenges

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- Mansi Priya, Marketing, Trivone Digital

It said that there are no free lunches in the world. With all processes, trends, changes there are pros as well as cons. With every new change and trend there are new challenges that comes along. Today we shall talk about a new concept coming up with the transforming era and its challenges.

We talked about how the world and economies are going digital. With this digital transformation, comes in a new concept called the Big Data. Big Data is a popular term today, which is used to define the exponential growth and availability of data. Wikipedia describes Big Data as a broad term for data sets, that are so large and complex that traditional data processing applications are inadequate. 

If we simplify Big Data to understand better, then it is a simple cycle. A lot of data, content or information is stored and optimised by various search engines. Out of this storage, content is discovered and managed. After managing and discovering the data, useful and intelligent data is identified. By delivering the intelligent data, user experience is measured using various means such as Analytics. The best user experienced data is then again stored and optimised by search engines. 

Big Data

 

After all the entire cycle is made to engage the user. In the cycle, there are certain challenges that are faced by the users. Some of the challenges are lack of collaboration, multiple media formats, long cycle time, technology ownerships, workload diversity, data security and many other factors. If we consider some of the major challenges then it will be a little simpler to understand and overcome.

Challenge 1 : Data Volume
Companies face alot of difficulty in extracting the right data and understanding its usability. To engage with one’s customers, companies have to think out of the box and look for models that are different from traditional ones. 

Challenge 2 : Talent Gap
Content discovery & management is an essential part for Big Data. Companies today struggle alot to find the right talent, which is capable enough to understand new technologies and interpret a meaningful business insight from it.

Challenge 3 : Performance
In the digital world, where delay of nanoseconds can hamper your business process, big data must be moving at great speed. It is a challenge to react to the flood of information in time required by an application.

Challenge 4 : Technology complexity
On the internet information is scattered on a large scale in different technical formats. Leveraging the data means to work with a strong and innovative technology as well as adapting to changes in IT landscape efficiently.

Challenge 5 : Security
Concern for security is a major obstacle for companies, and prevents them from utilising the data completely. Most Big Data platforms have few security mechanisms to safeguard the data. So it becomes a challenge for both end user as well as the company delivering the data.

Challenge 6 : Cost
Big Data has opened up excellent opportunities for business improvement, to experiment with new methods and discover new technologies, that provide good insight for ones industry. With all this comes a cost, but doing it all the right way with effective cost structure is also a challenge.

According to Gartner Research, Big Data can have major impact on current business in three ways. Big Data can discover hidden insights, improve decisions by enriching information for decision makers and automate business processes. With more data within reach, companies can determine an additional insight. This insight can improve their business processes and enable them to get value from available information.

The new transformation has brought alot of good stuff with it so it has brought complexities. To stay in the competitive market one should adopt this change but with relevant changes as per the industry. To fight these challenges is important, stay close to our section to learn how to fight them.