The Role and Significance of Big Data and Automation In 2020

Introduction to Big Data and Automation

With the emergence of Big Data, the digital landscape and organizational operations have gone through a massive change.

Most of us are aware of significant terms like Big Data and Automation, but a few of us have a clear idea of what it is. Yet, from assignment help services online to other digitally available platforms, every digital entity is highly dependent on big data and demographics.

So what is “Big Data” anyway? According to Investopedia, Big Data is the large and diverse sets of information that’s growing at increasing rates.

In other words, it denotes the amount of data large organizations collect regularly. Big data plays a significant role in shaping organizations by processing the information to create better products for customers.

A Brief History of Big Data

  • The term “big data” came into existence more than 50 years ago.
  • The first data centers opened and started collecting information in the 1960s and 1970s
  • YouTube and Facebook became the most extensive data generating hubs for businesses.
  • Internet of Things (IoT)-connected devices revealed further data for using it for business advantages.

 

  • Crucial Elements of Big Data

Traditionally, big data includes three Vs – volume, velocity, and variety.

  • Volume:

Businesses collect a large volume of data from various sources online. Storage has become more accessible with open-source frameworks such as Hadoop and Spark, specially designed to store large amounts of data.

  • Velocity:

Data generates at a rapid speed which means it must be handled at that speed to match the actual pace. With the creation of RFID tags and smart meters, dealing with data in real-time is now easier than ever. It has the capability of handling large swathes of information right away to ensure the best data usage by businesses.

  • Variety:

Handling a variety of unstructured data that comes from emails, documents, and other files is equally crucial as handling large volumes and big high-velocity data.

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Now that you got the gist about Big Data to let’s learn a bit about automation and how its benefits in various industry sectors.

What Is Automation?

As defined by ISA, automation is the creation and application of technology for monitoring and controlling the production and delivery of various goods and services.

From manufacturing, transportation, defense to facility operations, it is used by all industries for all round functions.

Automation involves a wide range of technologies that includes robotics and expert systems, Cybersecurity, telemetry and communications, electro-optics, test measurement, and many more.

7 Reasons Why Big Data and Automation Are Important For Businesses

Big Data and Automation
Big Data and Automation

If appropriately leveraged, organizations can use Big Data technologies and automation harness to identify new opportunities for better business decisions, efficient operations, higher revenues, and more satisfied customers. Some of the significant benefits of Big Data include:

  1. Reduced costs: Hadoop and cloud-based analytics provide significant cost advantage and identifies more efficient ways of carrying out business activities. Automation also saves on the value of labor as robots can perform faster depending on the type of work.
  2. Quicker decision making: In this current age, more than 50 percent of the companies are using automation and big data technologies to gather real-time feedback. With the speed of Hadoop and in-memory analytics, businesses now can analyze information in real-time and make better decisions based on the data.
  3. The innovation of new products and services: Big Data analytics allow businesses to gauge the requirements of their customers and make products accordingly. Most big firms are now investing millions in R&D to create the best products that curtail to the customers’ needs.
  4. Analyzing the feedback: Big data is also used by organizations to measure how effective the product was to its customers. With the support of big data analytics, automation, and other technologies, businesses can develop a better knowledge of the market trend and create better products that are in line with customer requirements.
  5. Acquiring and retaining customers: One of the significant benefits of having technological tools is that it increases the size of your customer base. Big Data allows you to understand your customers’ wants and helps to identify your customer behavior patterns so that you can create more personalized online experiences.
  6. Creating targeted advertisements: These days, ad campaigns are no more mere guesswork. Companies and marketing experts analyze and measure customer trends with the help of big data to create more accurate and targeted ad campaigns to attract customers and boost customer loyalty rates.
  7. Market forecasts: A business must identify the strengths and weaknesses of the competitors to survive in the competition. With big data automation, companies can understand business strategies and other prospective business aspects. Big Data and automation enables organizations to evaluate multiple factors to make accurate business forecasts.
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The Big Data and Automation Trends in 2020

Big Data and Automation
Big Data and Automation

Ø  Augmented Analysis

Augmented analytics is an emerging trend that relies majorly on big data. Reports consider augmented analysis as “the future of data and analytics’.

Through augmented research, automated data analysis is done using Machine Learning and Natural Language Processing (NLP) to provide detailed, easy-to-understand results. The analysts combine the data, process them, and check them for redundancies and errors for the final analysis.

  • Digital Transformation

Due to the Covid-19 Pandemic, companies around the globe have embraced digitalization and have switched to online operations.

As per a survey report, 1 in 3 business owners doesn’t wholly rely on the available information for making business decisions.

And with the rising number of data inaccuracies, the need for digital transformation is now higher than ever to help businesses get factual data.

The new technological tools, when combined with big data, will guide in making sense of the data generated every single second by us online without any false positives.

Ø  Data-Backed Tools

The study shows that the Internet of Things (IoT) is to hit the 8.4 billion mark by the end of 2020. IoT devices are used in parking meters, refrigerators, ovens, and several other home appliances and will soon operate in healthcare equipment, smart home devices, and more. It will also be the forefront of physical tools that assist in running big data analytics.

Ø  Data-As-A-Service

Data-As-A-Service is the assessment of online data from several shared spaces. It comes in handy for employees in large organizations who want to transfer large volumes of data between departments but restricted due to technological limitations. The data-As-A-Service architecture keeps data at one location, which makes it easier to maintain it.

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Ø  Development in the Healthcare Sector

IoT devices play a pivotal role in managing hospital equipment. With the outbreak of the Corona Virus, 2020 has witnessed a significant revolution in the healthcare system.

Research is on for discovering the use of IoT devices to track and monitor patients’ conditions. Scientists are also working to create robots with the help of Big Data and automation to attend to patients and carry out other medical activities.
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Ø  R&D in Various Industries

Big data and automation have enhanced businesses’ regular operations – be it designing to supply chain management.

The R&D uses big data analytics in various aspects like to gather authentic behavioral insights, customer preferences, market trends, customer expectations, and create better products by taking advantage of the possibilities.

Wrapping up,

Big Data, automation, and technological tools are essential for going forward. Most companies around the globe are using big data to improve business activities, retain and gain new customers, and develop new products and services.

In this tech-savvy era, data is king, and knowing how to use these unstructured datasets is significant for any business looking to expand its territories to reach its goals.

Big data will continue to grow in significance in 2020 and beyond as the organizations continue to find new ways to boost their profits and improve their business operations.

Author Bio:

Olaila lee is a web developer at a reputed firm in the USA. She also offers homework help at MyAssignmenthelp.com.Henry loves to bake cookies in her free time.

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