It Has Come
It seems that we are lucky to live in an era of big changes, with brand new world coming soon. The history is truly being written just before our eyes with about 92% of the world data created during the last two years. And the speed of information generating is not becoming less. In a couple of years the entire volume of humanity’s knowledge will be hard to notice compared to the huge pile of freshly-generated data. Of course we must not disrespect the value of past centuries’ experience – this statistics shows quantity, not quality. But it seems that the data management & analytics tools of the previous decade will likely be regarded soon like some analogue of a caveman’s stone axe.
Everyone is talking about Big Data today, yet nevertheless its true face is still obscure. The position of big data scientist has become rather popular in the IT industry this year, but there is no such scientific term yet which could gave a clear explanation of features and potential of the massive information circulation phenomena. Industry experts are debating about the nature of Big Data. Many of them argue that most of the world doesn’t really understand what it exactly is though thinks it is cool and trendy. But we all can at least feel that this entity really exists and it really matters much for our life – and for businesses in particular.
Time is valuable; while those discussions continue, businesses have to decide what to do with the emerging challenges. Their desire to get new smart solutions for managing rapidly growing volumes of corporate data creates a strong demand in this market.
Taking Business Intelligence To A New Level
Knowledge sharing and corporate data analysis were not invented in XX century; intelligence, planning and efficiency evaluation always were important parts of the business process. A company which did not search for new markets or investigate competitors’ activities simply could not survive. None the less important was the ability to embrace technical innovations. When computers proved their efficiency, companies in America (and then all over the world) promptly started to utilize them. The same occurred with business automation software – the only difference was the adoption time. Days count for years in today’s IT market.
This term, ‘business intelligence’, is said to be first mentioned in modern context in 1989, though its existence could be traced back to late 1950s or even earlier. Anyway, it became associated with enterprise software by the end of 1990s. During that period the development of advanced corporate analytics methodologies together with wide adoption of business automation software help to forge a new concept of enterprise analytics automation tools.
Typical business processes tend to grow more complex as the time passes. Big companies which operate on international markets have too many factors to deal with. Moreover, lots of raw data is generated by internal things. To begin with, corporate intranet space with all its compatibility and security issues is a mature source of everyday critical information. Evidently, the process of raw data structuring and analyzing must be automated so that decisions could be made within a reasonable time period, before all that data becomes obsolete.
Technically, such a company is dealing with Big Data and therefore needs adequate BI solutions.
Future BI Solutions: Coming Soon
As we have seen above, the operational field for BI solutions is widening continuously (and dramatically). New problems demand for new solutions. The latter appear, but overall demand is not being fully satisfied. Tech experts talk about new Big Data challenges anticipated in the nearest future. This technology sector is booming now but the real problem is designing solutions which will perform successfully in the longer term. Leading players of IT market are working in this field, including Microsoft, Oracle, IBM and others.
When talking about Big Data, social media is often mentioned. A great deal of important information is retrieved from social network. Facebook and LinkedIn are most often referred to as primary sources for social analytics materials. We have already spoken about social media data’s importance for businesses in our blog. It is evident that its role will continue growing. Summing it up, social features are likely to be one of the key elements of future BI solutions.
It was said long ago that knowledge is power. Today, especially in high-tech business sectors, knowledge is life, because lack of up-to-date information may immediately result in a major setback. Companies of tomorrow are likely to operate with data volumes difficult to imagine. We believe a BI solution designed to meet some of those next-generation business needs will make an industry breakthrough.
Want to look into this tomorrow of big data? Start working on that today. We are partners of SAS Company, a known leader of BI solutions. Contact us to find out how we can introduce the world of big data to your business now!