In today’s growing digital world, there is an explosion of data from the web, emails, news, documents, GPS, industrial equipment and machinery, social networks such as Facebook, Instagram, LinkedIn, etc., and various other sources.
Organizations around the world harness these data, which is collectivity known as big data, and store it for meaningful reuse. Big data refers to the enormous volume of data – both structured and unstructured in which traditional methods and algorithms are unable to operate on. Techniques such as predictive analytics, user behavior analytics, and other advanced data analytics methods can be used on them to analyze it.
If used correctly, big data can help achieve better and fact-based decision-making, identify new opportunities, improve overall customer experience, and save costs, leading to a more efficient operation, higher profits, and happier customers. Big data analytics also enable businesses to stay updated with the changing dynamics and predict the future trends.
The demand for big data has grown considerably in the recent years owing to the increased adoption of Internet of Things (IoT) technologies, the growing use of machine learning technologies, the growth in the media and entertainment sector, and the rise in demand for smart city infrastructure. As per the report by Progressive Markets on the global big data market, the market is likely to grow at a CAGR of 16% from 2017 to 2025.
Businesses – large and small are leveraging big data to obtain the best possible outcomes for their operations. In August 2018, Experian PLC, an Ireland-based business services company introduced a novel analytics program in the United Kingdom with the aim of helping businesses make faster decisions by gaining deeper insights into the things that matter to them.
Alibaba Cloud, a cloud computing company and a subsidiary of Alibaba Group launched nine products to support the needs of various industries who are looking for digital transformation. One of the products is the Apsara Stack which offers a range of cloud services such as big data, IaaS, and more.
SQream, a developer of modern databases recently announced forming a partnership with Moyo Business Advisory, a leading South Africa-based architecture and analytics firm to revolutionize analytics in Africa, thereby allowing Moyo’s customers across several industries to access and analyze data from growing massive data stores to gain real-time analytical queries.
Experian Develops a Novel Integrated Data Analytics Platform
The new analytics solution called the Experian Ascend Analytics by Experian is developed to help businesses make quicker decisions with smarter insights. It allows the company’s clients to gain access to its anonymized trended data, thereby providing secured results in real time in formats according to the user’s preference.
Featuring open-source technology, the integrated data analytics platform, which combines data, technology, and analytics, allows for the creation of predictive models for building business strategies including machine learning, artificial intelligence (AI) techniques, and others.
Tom Blacksell, Managing Director of B2B at Experian, said, “Ascend brings the very latest in analytical innovation to help them turn vast quantities of data into actionable insights. Leading in turn to more accurate and well-informed decisions, and ultimately bringing better services to market, more quickly, and increasing their revenues.”
Alibaba Cloud’s New Suite of Products Launched
A new range of products was introduced by Alibaba Cloud recently for the global market with the aim of helping the retail industry meet their needs of digitizing their operations. The launch of the products also enables the company to strengthen its partnership with customers across various sectors. One of the products called the Apsara Stack offers a host of cloud services such as IaaS, big data, middle platform, and security.
Powered by the technology that runs Alibaba Cloud, the product allows for deployment in customer’s data center in the form of a hybrid cloud or a private cloud. Apsara Stack allows retail clients to create an integrated data and business middle platform that combines numerous data sources and supports the business processes such as transactions, logistics, and marketing.
SQream and Moyo Join Forces to Revolutionize the Analytics Space in Africa
The partnership between SQream and Moyo is expected to enhance Moyo’s ability to meet its top-tier clients’ demands for big data. The deal provides SQream with a valuable footprint in Africa. SQream has a host of customers across the US and Asia, whereas Moyo serves numerous clients in the JSE top 100 who operate in a variety of industries including finance, natural resources, utilities, and mining.
Dewald Lindeque, Business Development Director at Moyo Business Advisory said, “Our partnership with SQream will have far-reaching consequences for both the scientific and business communities who rely on the rapid processing and analysis of very large datasets. We look forward to leveraging SQream to better meet our clients’ big data needs in their pursuit of faster analytics and more actionable business intelligence.”