March 2016 | Outsource Bigdata Blog

Data Management Services in Big Data era: A different perspective

 

Data management is a process of developing and managing the whole life cycle of data generated on different platforms of an enterprise. The official definition provided by DAMA (the Data Management Association) of Data Management is “Data Resource Management is the development and execution of architectures, policies, practices and procedures that properly manage the full data life cycle needs of an enterprise”.

Big Data is a defining term of growing volume, variety, velocity, and value of data. Organizations leverage big data to find hidden insights and apply them to serve their customers better which eventually decides business growth. Big Data is now seen as the core of enterprise growth strategies.

Data become more powerful when it is integrated. The integration of data, coming from different sources converts data into big data. The rapid growth of big data brings big challenges as well as immense opportunity. To grab these opportunities and converting those challenges in benefits, Data management is very necessary. In other words, for using big data effectively proper data management is compulsory. Data management is often seems to be a fundamental block for big data analytics. The analysis result and building models mostly dependent on the data quality and data management plays a crucial role.

These days business frequently in contact with their customers through different medium like social networking, emails, messages, calls, etc. and because of this, the era of big data came into picture. Flood of data coming from web surfing, mobile devices, sensors and internal process is full of valuable information. All data generated through these mediums are valuable for business provided exploring it decision support in right way. These data are capable to change the way of doing any business. So, managing these data is really important for the growth of any business.

There are many challenges in management of big data as well. It is challenging many long-held assumptions about the way data is organized, managed, ingested, and digested. Managing big data is not always possible using traditional data management techniques used in relational database domain. In big data processing, data management includes different function and process of data including data storing, backup and recovery, processing and many more. All these operations make data complex and tough to handle in proper manner. The size of data is also too big. So, due to these reasons traditional data management methods fall short to handle big data.

Big data comes in Exabyte and Zettabyte and traditional data management is not capable to handle those data. And the backup process makes these data double and triple of its size. For handling big data, different tools and technologies came into industry and it is evolving free and paid ones. Hadoop, Hive, Pig, Hbase, NoSQL are a few of them and there are many more. These tools and technologies are capable to handle big data in proper manner.

For a healthy analysis of big data,proper data management is needed. Quality of data can offer you powerful business insights that can be game changing to proper your business.

Small Business, Small Investment and Big Data

“Big data is only for Big business.” “For leveraging big data, large investment is needed.”

These are some of the myths about big data by which we often come across. Big data doesn’t mean that it is only for big business – and it is not. As we know that leveraging big data is very vital for companies for sustainable growth. Leveraging big data having countless benefits in smaller companies too. But unfortunately many small companies are missing these benefits of utilizing big data because many of them believe that leveraging big data is too costly. But the reality is often different. For leveraging big data, you don’t need to invest a huge money.

A recent survey from Gartner Inc. found that 73 % of respondent have invested or plan to invest in big data in next two years. It is 9% more than the last year record. While the number of business that said they have no plans for big data investment also decreased from 31 % to 24 %.

A SAS report published with the title “Big Data: Harnessing a Game-Changing Asset” showed that 73 % of people surveyed said that collection of data increased “somewhat” or “significantly” over the previous year. So It doesn’t matter that you are a small or big company, just go for big data.

Now, let us discuss that how small companies can leverage big data by small investment.

Use ‘unused’ data– If you are a small organization and you think that you don’t have enough data to analyse; then no need to worry, try to find unused data in your organization. This data can be the system information, review mails, sensor data, vendor data, customer transaction data, PDF files, etc. By analysing these data, you will get valuable insight for your organisation.

Vendor selection- You can take a wise decision on the topic that how to analyse big data, means by developing internal capability or outsourcing to a right big data vendor. Look at your need and then take a decision. If outsourcing big data to a vendor having low cost than developing internal capability; then go for a right vendor. If you want to focus on the core of your business; then also go for a suitable vendor.

Always start small- Always start with small. Don’t go for a large investment. First look for POC (Proof Of Concept) and then invest in whole project. It will minimise your risk.

Tools and techniques– For big data processing, a large number of tools and technology is available. Try to find the appropriate and economic technology. For ex- To store big data, you don’t need to invest on the hardware you may go for Amazon Web Services. Here you will have to pay according to the usage – as-a-service or pay and use.

Vendor location selection– Find big data partner from those part of world where cost is less and availability of high skilled resources are more. Distance between you and your big data partner doesn’t matter today.

 In essence, if you don’t have enough high value customers your business will fail. The same applies if you spend too much money in big data for acquiring those customers or optimize the business value chain. As technology advances, big data is becoming an essential part for small businesses. To be in market competition, it is paramount for all type and size of business to invest in big data.