FEATURE : BIG DATA
How enterprises are using Big Data to glean information
Big Data is a combination of structured , semi-structured and unstructured data collected by organisations that can be mined for information and used in Machine Learning projects , predictive modelling , and other advanced analytics applications . Systems that process and store big data have become a common component of data management architectures in organisations , combined with tools that support Big Data analytics uses . Industry experts look at how enterprise IT is using Big Data to glean information that can be applied to improve business performance and productivity in an organisation .
The market for data governance , storage , and analytical tools has grown considerably in 2022 and will continue to scale next year , yet enterprises are struggling to wrap their arms around the scope of the challenge .
Research firm Gartner predicts that by 2023 , more than one-third of big enterprises will employ analysts practicing decision intelligence , which includes decision modelling . In 2023 , data-driven organisations that use the power of data , analytics , and Artificial Intelligence ( AI ) will gain a competitive edge and see the real value of reengineered decisions , Gartner stated . business through effective marketing , customer personalisation , improving operational efficiency , and creating new revenue opportunities .
“ Applications can include customer acquisition and retention , targeted ads , product development , price optimisation , supply chain analytics , and risk management . In governmental agencies , Big Data technologies allow optimising security , improving governance for more efficient public services , and better citizen satisfaction . Applications include citizen sentiment analysis , citizen segmentation , economic analysis , tax fraud detection , Smart City , and cybersecurity .
Hadj Batatia , Associate Professor , School of Mathematical and Computer Sciences , Heriot-Watt University Dubai , said Big Data is of great use across multiple sectors and can help companies maximise
“ In engineering and industry , Big Data allows for efficient processes , reduced energy consumption , and contribute to sustainability through the discovery of optimal designs , the estimation of optimal control , and
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