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Imagine living in an era, where you can enable smarter healthcare services, efficient smart city plans, or personalised educational experiences.
Yes, all these are possible with the help of Big Data Technologies. Do you think that this technology is only imperative for business success? No, you are wrong. This can be a wonderful tool for improved decision-making and resource allocation, that can upgrade human lives.
Data never sleeps. Every second, data is processed to extract valuable insights. With each click, swipe, and search, a strong foundation is developed that ensures your business’s success.
At present, the market size of UK Data Analytics is 3.11 billion USD. The IMARC Group predicts that during 2024-32, this growth rate(CAGR) will become 18.11 billion USD.
This indicates the arrival of a data-dominated age, where data will be overwhelmingly abundant. Big Data is nothing but the large amount of data that is collected daily, by the companies in different formats. For businesses, this technology can become a key to acquiring dynamic insights.
Here, in this blog, we will make you understand how Big Data Platforms can become a boon for your organisation. Join us to explore the ways to utilise this overwhelming technology.
The term ‘Big Data’ refers to the large volume of data that is collected, stored and analysed by diverse organisations and businesses. This plays a huge role in extracting insights and driving decision making.
Scale: Today, a massive amount of data is collected and analysed. These data are stored in the range of terabytes or petabytes. Due to the innovation of advanced technologies, the amount of data is also increasing.
Types of Data: Data are available in different forms: structured, semi-structured, unstructured, etc. Customer data, transaction history, etc, are regarded as structured data, while XML documents and JSON files fall under the group of semi-structured data. Images, video, social media posts, etc, can be mentioned as unstructured data.
Velocity: It is necessary to process the data fast, otherwise, the extracted insights will be less impactful. Apart from just assisting in data storage, Big Data Technologies also help in the fast analysis of data.
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Big Data remarkably helps businesses in understanding their markets and customers. It’s not just a buzzword, rather, it’s an effective tool that can enable improved decision-making, especially for UK-based businesses.
Detailed insights that are drawn from a large amount of data may lead to strategic decision-making. For instance, by leveraging the power of Big Data, a retail chain in the UK can identify buying trends and analyse consumer feedback.
Big Data can assist businesses in providing personalised marketing experience, as well as enhanced customer services, by recognising the behavioural patterns of the customers, such as their requirements, preferences etc. For example, a UK based telecom company can upgrade their services, based on the data extracted for customer interactions.
To achieve operational efficiency and cost reduction, Big Data can be an effective medium. UK based logistic firms can utilise the power of Big Data to alter their delivery routes and schedule. This may lead to less fuel consumption and improved delivery time.
Big Data has the ability to produce effective tools for businesses, like Data Analytics that can provide competitive edges. The financial firms in the UK can develop new fintech applications, based on the insights, drawn from the Big Data Technologies.
Do you know that by 2025, the total global data storage is projected to exceed 200 zettabytes? Both the private and public IT infrastructure will be used to hold this data.
Big Data is collected from diverse sources. The process may include both the internal operations of an organisation and the external interactions with the markets and environment. This may include transactional data, social media, machine-generated data, external data of the market, customers and many more.
Transaction processing systems: From this source, different types of transaction-related data are generated that are quite helpful in managing supply chain operations and evaluating business performance.
Customer databases: This is a vast pool of data that includes information like demographic data, purchase history, contact details, consumer preferences etc.
Social media: Different types of social media platforms create a large amount of unstructured data, which can be used to unlock current market trends, consumer sentiments etc. These data can be used to launch tailored marketing campaigns and understand consumer sentiments.
IoT devices: Data can originate from IoT devices, ranging from smart home products to industrial sensors. They can reveal crucial information about machine performance and user behaviour.
Weblogs: Weblogs produce information about user navigation paths, times spent by the customers in different web pages, or interactions with various elements.
All the major sectors of the UK economy are controlled by data-driven companies, which are dealing in technology. In comparison to the other parts of the country, data-driven companies are more active in regions like London, the south-east, and the east of England.
Description: It is a framework that supports reliable, scalable and distributed computing. This is also ideal for preserving and managing large sets of data across clustered systems.
Pros/Cons: Although this framework is highly scalable and quite cost effective, it includes a steep learning curve and demands substantial set up.
The banking sector in the UK largely uses Hadoop to strengthen the fraud detection process and analyse a large amount of transaction data.
Description: It is an open source unified analytics engine that is ideal for processing large data sets, carrying out data science related tasks and performing ML, on single node machines or clusters.
Pros/Cons: It has very fast processing capability and high scalability, but it is a little bit costly in terms of resource allocation.
For real time customer behaviour and preferences analysation, a famous UK based online retailer named ASOS, utilises this platform.
Description: This cloud-based data storage platform allows data warehousing services which ensure more efficient managing and analysation of data through the use of cloud resources.
Pros/Cons: Without heavy upfront costs, it provides high scalability and flexibility, but it may demand high ongoing operational costs.
This platform is used by the major services providers of the UK financial sector, due to its high scalability and customer data analysis ability.
Description: This AI ready Big Data Analytics platform can carry out critical data analysis in a quick and affordable way. This is largely used by start-ups.
Pros/Cons: It requires no server management and is highly scalable in nature, but increased data usage may impact the costs.
To avoid significant infrastructure investments, several UK based start-ups use this platform for processing user data.
Description: Redshift is a data warehouse product that creates parts of the bigger cloud computing platform known as Amazon Web Services. This platform offers hybrid cloud solutions, through which businesses can process large amounts of data, across their cloud and on-premises environment.
Pros/Cons: It can be seamlessly integrated with other AWS services, but it demands high cost and careful planning, as data is transferred between environments.
The financial institutions in the UK, very often, need to integrate seamlessly their on-premise data storage with cloud analytics to increase their data analysis capability. So, they primarily use this platform.
Description: Tableau is a visual analytics platform through which users can develop shareable interactive dashboards that depicts variations, trends and density of data in graphical forms.
Pros/Cons: It has high visualisation ability and it is quite user friendly. In some cases, it may be costly, especially at scale. It also demands rigorous training to unlock its full potential.
UK government agencies use this platform to create public sector dashboards.
Description: Apache Kafka is an open source distributed event streaming platform that is efficient in handling real time data feeds. It is a great tool for streamlined data processing and integration of large streams of data from multiple sources, that is ideal for IoT applications.
Pros/Cons: This platform is known for high scalability and dynamic data managing ability, but the process of set up and managing is quite complex.
In smart cities like London, Kafka can be used to collect and process real time data, drawn from diverse IoT sensors across the city.
Description: Databricks is a unified data analytics platform that, under a single based environment, amalgamates Data Science, Data Engineering and Business Analysis to foster innovations.
Pros/Cons: It is scalable in nature and ensures productivity and streamlined workflow, but includes steep learning curves.
This platform allows the major ecommerce companies in the UK to optimise their marketing strategies by analysing consumer behaviour.
Description: It is a NoSQL database program, efficient in storing unstructured data. By using a data storage process similar to JSON, it allows easy modification without hampering the whole database.
Pros/Cons: Although it is a high performing platform, sometimes it may demand extra management and optimisation costs.
It is widely used by the UK based social media start-ups to process a large amount of unstructured data.
Description: Microsoft Azure Synapse is a limitless analytics service that combines both Big Data and Data Warehousing. By leveraging on-demand or provisional resources, it allows users to query data.
Pros/Cons: It has expert integration capability, but it is a little bit costly and complex in nature.
The financial service providing companies of the UK, use this platform to maintain partnerships with the local Microsoft partners to consolidate financial data.
The abilities of big data platforms, especially precision and speed are enhanced by AI driven analytics. Edge computing improves the ability to analyse a vast amount of data to draw valuable insights. The matter of data handling is primarily controlled by GDPR compliance and data ethics. To revolutionise the data management process, organisations prefer to adopt hybrid cloud platforms that include both private and public clouds.
The solutions of these problems lie in providing proper training and forming collaborative relationships with the UK based consultants.
At the time of choosing the right Big Data platform for your UK based business, you must consider a few points. First is scalability to handle growth, second is cost effective to avoid budget constraints and thirdly, maintaining compliance with UK regulations.
To maintain smooth operations, keep your eyes keen on the ease of use. Always prefer those platforms that are capable of providing dynamic local support and have data centres in the UK to ensure quick response time.
Want to unlock the full potential of your data? Databuzz is here to help you. Being one of the trusted providers of big data platforms, we are expert in offering specialised solutions like Microsoft Azure Synapse, MongoDB, Databricks, Kafka, Tableau, AWS Redshift, Google BigQuery, Snowflake, Apache Spark, Apache Hadoop, etc.
We will make your business able to harness the power of data and extract transformative insights. Choose us to get tailored solutions.
If you are looking for business growth, especially in the over-competitive UK market, it is mandatory to welcome advanced Big Data Technologies. Apart from boosting operational efficiency, it will provide you with new insights to promote your business growth.
To fulfill the specific needs of your business, you must be provided with tailored big data solutions. Here, comes the importance of collaborating with Databuzz Ltd. Our customised support can transform your data into actionable intelligence.
Contact us for tailored UK big data solutions and see the real difference.
A: The most popular big data tools in the UK are Google BigQuery, Apache Spark, Apache Hadoop, etc, for their high scalability and performance.
A: At the time of implementing big data solutions, GDPR compels companies to maintain a strict process of data handling to ensure high data security and privacy.
A: For small UK businesses, the ideal platforms are Google BigQuery and MongoDB.
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