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Findings from “An In-Depth Look at Big Data Trends and Challenges” Featured

Findings from “An In-Depth Look at Big Data Trends and Challenges” Photo by rawpixel on Unsplash

It’s no surprise that big data is on the rise in businesses around the world. Companies routinely use big data to analyze common trends in their practice; enabling them to make sophisticated decisions to ensure their businesses prosper. According to Statista, an online statistics, market research and business intelligence portal; companies routinely use data to drive process and cost efficiency; drive strategy; and to monitor and improve financial performance. When used in these ways, data has the ability to save the company a significant amount of money because they are able to spend their money efficiently.

While data does have the ability to improve a company’s performance; companies just aren’t catching up on the trends as fast as one would assume.  Big Data software company, Quoble along with Dimensional Research; recently published an e-book, “An In-Depth Look at Big Data Trends and Challenges”. As the name suggests, the data looks at global data trends in the workplace and the problems that businesses often face.

Among the issues that the research uncovered was, “the realization of value from big data in on-premises environments has lagged expectations, largely due to complexity, cost overruns, steep demands for specialized talent, and need for powerful computing platforms.” While companies may understand the value that big data brings their company; finding qualified candidates and obtaining funds to purchase the computing platforms needed to manage data sets are among the set backs employers are facing today. Nearly 75% of those surveyed sighted a gap between the necessary resources and tools that are available to them. And while 50% of businesses plan to moderately increase their data headcounts in the next year; 83% find it difficult to find the right candidate.  Not only does it take time to find the money to pay for data headcounts; finding the right candidate can often times be complex and time consuming.

The survey found that big data teams’ lack of experience creates a slow progress to get things done. 42% also sight that it is hard to keep up with big data trends and new data sources.  Big Data is constantly expanding. Five years ago machine learning and AI weren’t as mainstream as they are now. BI tools were available but not widely used and companies didn’t have big data teams. In fact their “team” often consisted of one or two data scientists. Big Data’s continuous growth has lead to expansion that many businesses can’t keep up with.

The intention of Quoble’s “An In-Depth Look at Bid Data Trends and Challenges” is  not to solve these problems, but to bring awareness to the issues that companies are facing when it comes to data.  As big data continues to surge, so will an influx of knowledgeable employees and efficient software that will guide the business to succeed in an age where big data is becoming the norm.

To view the full report, go to Quoble’s website and download the free e-book.

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