Importance of Big Data to Companies

The world of business and intelligence rely heavily on data storage and utilization for efficient and timely decision making. Data analytics has always formed the backbone of a great decision to the extent that most companies have concluded that the best ways of ensuring that competition is always combated effectively are through the use of real time data that can be relied on. The storage of big data has therefore led to great investment in information technology in an abid to help the research departments store data that they collect for easier utilization and retrieval.
            The main issue of data collection and storage is, therefore, a business strategy that ensures that companies become aware of emerging trends in the market and how the trends directly or indirectly influence their business operations. It is particularly of great interest to note that even the healthcare sector is extremely careful when it comes to the handling of big data because many of the people would always want their healthcare data to be kept in secrecy or private (Ohlhorst, 2013). Big data, therefore, encompasses the major ways in which large volumes of data are handled in a professional manner without any form of leakages that might result in the damage of the professional reputation of the company. The information on big data is particularly of great importance because of the fact that it enables faster and economic decision making by institutions because it provides a framework for storage and retrieval or analysis of large volumes of data. Investments in large storage hardware or devices like hard disks are therefore always paramount and worth the effort. The book entitled Information Technology by Kirk (2014) re-enforces the information that pertains to the importance of big data as utilized by companies. The reference of Ohlhorst entitled Big Data Analytics provides the best information on the values of storing data in away that encompasses proper retrieval and usage for decision making.
            The major decisions that are often being made by companies on where and how to store data for future use, therefore, fall under the big data and should be handled with a lot of care. The cloud computing is also being used by companies because of their reliability and ability to be accessed without of ease. A collection of data from the field is always a very expensive affair, and thus the proper securities to the investments made in data storage should be looked into keenly. Big data is also well guarded because it forms the backbone of profitability and reliability of the companies (Kirk, 2014). Transparency and accountability in the operation of any company always depend on historical data that is properly stored. It is therefore right to emphatically state that data storage is crucial and should be accorded the best attention and investment for posterity purposes. Big data is, therefore, a topic of great interest because of the economic and social impacts that it generates over time.
The two references properly address the issue of big data analytic, and they are relevant to the issues raised in the PPT. The references also adequately address the major issue of big data in away that is great and of the high standard given the requirements that most companies should enhance their data storage system for a better future.
            The major companies around the world should also look into ways of ensuring that the modes of storage of information are efficient, simple and cost effective. The strategic information communications teams should also take into account the need for security in the data stored for mega companies. These are the only ways of ensuring that the going concern of companies is achieved in the long run.
           
 
References
Kirk, A. (2014). Information technology. New York: Ferguson.
Ohlhorst, F. (2013). Big data analytics. Hoboken, N.J.: Wiley.
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2 comments on “Importance of Big Data to Companies”

  1. Thank you for a great article, Chuer! I feel, cloud technology has been gaining traction in the recent past since security aspects have been engineered as one of the core feature that ties all the services together. Over the decade, the value proposition of cloud is moving from the ease spinning of compute power without worrying about space, power and set up in data centers – to having fully managed (also known popular as “serverless”) services – which abstracts out the complexities of planning, setting up and configuring (virtual) infrastructure. Storage costs are down to cents per Gigabyte and competition is driving this further down. I feel, there is a push from organizations to convert their legacy CAPEX on on-premise infrastructure to OPEX using cloud; while many new startups are natively built on cloud.

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  2. Thank you for such an insightful idea, Chuer. Indeed big data is so important these days, almost all big companies make decisions based on big data. I am also taking another course called decision making and we learned how big data could be so useful. Nearly all big investment companies make their investments based on big data and that is how they make profits, by splitting the risks.

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