Big Data anD Data analytics: key to a seamless future for enterprises

Data analytics solutions allow companies to meet their needs by optimizing usage of existing resources to create an intelligent and responsive enterprise that understands its customers and provides realtime, insight-driven services and support

Over the past few years, the telecom sector has seen growth across various segments and a lot of new opportunities have been created. Enterprises have launched a wide array of products and services for their customers and the entire ecosystem is undergoing changes that call for a robust infrastructure growth.

A development that we are expecting to accelerate in the coming years is the proliferation of data across all sectors in the industry and how big data and data analytics are going to play a key role in ensuring success for enterprises. According to McKinsey, business processes will become increasingly data-driven, and it will be the most valuable asset in data analytics. Enterprises of all sizes are putting out huge amounts of data at an unimaginable speed, and in this scenario, big data, and data analytics help firms to gather exclusive insights and customer preferences. This information empowers business leaders to make informed decisions for streamlining businesses and launching tailor-made services and solutions for customers.

Customer needs drive enterprises to Big Data

Superior customer experience, cost effectiveness, and profitable growth still remain top priorities for businesses across the world. Data analytics solutions allow companies to meet these needs by optimizing usage of – existing resources to create an intelligent and responsive enterprise that understands its customers and provides real-time, insight-driven services and support.

In the year 2015, big data and data analytics were still at a very nascent stage and their impact had just started proliferating into the workings of enterprises. With personalization becoming the most important element in customer management and loyalty, big data analytics is expected to rapidly gain momentum and its impact on businesses has already started seeping into the fundamental workings of companies.

Several businesses enter into the big data space without a thorough understanding of business requirements, goals, and data policies. This often leads to wastage of resources and the insights procured fail to add much value to the company. There is a need for more big data specialists to help effectively run and manage implementation across functions.

Key imperatives for successful Big Data adoption

For successful adoption of big data in enterprises, the leadership teams from across all departments in a firm need to come together and cooperate. Special focus is required by the CIOs in order to recognize the importance of managing customer expectations at each stage of the life-cycle which in turn must spur the deployment of IT tools and processes to garner deeper customer insights. Other technologies such as The Internet of Things (IoT) and Cloud Computing are also gaining momentum with the help of big data and the major challenge that lies ahead of enterprises and CIOs is to acquire the right kind of skill set in the organization that can leverage these technologies with the help of big data to win this battle.

Other barriers are the same as one would expect with the adoption of any new transformational technology. These range from determining ownership within the organization to building a business case for recommended implementations. There is also the worry that the current database is too unstructured for effective automated analysis.