Big Data in the current world of business is gaining a lot of buzz as it describes the large volume of both structured and unstructured data that is essential for any company to drive success. Big data is typically larger, more complex datasets, particularly from new data sources. These are so abundant in volume and impossible to manage by traditional data processing software.
However, this massive amount of data today can be leveraged to address business issues, that wouldn’t have been able to tackle before.
Thus, here are the reasons why should businesses need to hire Big Data talent in 2020.
The recent data breaches across the globe are a major concern for companies to thwart themselves from these threats. And keeping sensitive business data secured against malware and hacking is one of the biggest challenges for modern businesses. Fortunately, big data here comes into play, making cybersecurity better. It can store a huge volume of data and assist analysts to scrutinize, observe, and identify anomalies within a network. The tools of big data analytics can be utilized to spot cybersecurity threats, including malware or ransomware attacks, compromised and weak devices, and malicious insider programs. With these capabilities, big data analytics seems the most promising approach to improve cybersecurity.
In the modern business landscape, almost every business is dealing with an enormous amount of data and managing it is a crucial task, indicating a critical skills gap. However, many organizations now are thinking of data literacy as a spectrum of related skills. And nourishing data literacy skills in each employee will be well worth for them. In a recent study, over half of potential employers, with 59 percent, ranked job experience or an interview requiring a candidate to demonstrate their abilities as top indicators of a person’s data literacy. Conversely, just 34 percent of companies provide data literacy training to their current employees, reports found.
Spurring Better Decision Making
As businesses have lots of operations to perform and drive success, they need to take well managed and analyzed information to make informed and managed decisions. Earlier, organizations were lacking such methods, but the evolution of big data has provided them the direction and analyzed information that can be used to make better decisions. Big Data also assists enterprises in decision making for better and enhanced customer engagement through real-time data; increased efficiency of business operations; and no extra investment with enhanced capacity.
Solving Business Issues
Analysis of data is typically essential to pinpoint what is happening in an organization, and what’s going wrong and why. For instance, UPS, the leading package shipping company, has deployed big data to not just boost profits, but to become more efficient and environmentally friendly. The company spends a staggering US$1 billion each year on the technology. Considering reports, by leveraging the On-Road Integrated Optimization and Navigation, or Orion, system, UPS is able to craft optimal routes that lessen distance, time, and fuel.
So, as the number of people trained to assess data will not grow according to the demand companies raise, this will create a challenge for them to hire experts. And as more and more companies become aware of the benefits of gleaning and analyzing data, demand for big data expertise will continue to rise.