FEATURE : BIG DATA the sparse utilisation of resources . In medicine , Big Data methods are key to drug discovery , predictive and preventive practices , and epidemiological research and management . The strong impact of Big Data applies also to all other social and economic domains , as well as to science ,” he said .
Hadj Batatia , Associate Professor , School of Mathematical and Computer Sciences , Heriot-Watt University Dubai
Batatia explained that choosing the right tools for Big Data requires understanding the difference between transactional and analytical data . “ Transactional data is that data which supports routine business operations , such as sales , accounting , and banking , whereas analytical data is used to support decisions , such as monthly sales by unit or by geographic location . Transactional or operational data are the result of simple queries , that must run in very short time , to ensure consistency . In contrast , analytical data are dealt with by complex queries for reporting and analytics needs ,” he said .
Abed Hamandi , Senior Director , Professional Services – Emerging EMEA – SAS , said Big Data is a big deal for all enterprises , regardless of size , since it creates the potential to unlock key insights . Hamandi said consider banking , where Big Data not only enables financial institutions to better understand their customers and boost their satisfaction , but it also helps them minimise risk and fraud while maintaining regulatory compliance .
“ CIOs , CTOs , and CAOs must step back and establish an enterprise-wide strategy to harness the value of data for their enterprise and integrate AI to enable sales , marketing , and operational excellence . This means that their architecture needs to enable both data professionals and non-technical decision-makers with the tools that will stop them from making decisions based on gut feelings and anecdotes ,” he said .
He said when it comes to healthcare , providers that effectively manage Big Data can uncover hidden insights that improve patient care and lead to better outcomes . “ Manufacturers can similarly boost quality and productivity while minimising waste and adhering to sustainability goals . The applications of Big Data in every industry are increasing rapidly ,” he said .
Hamandi pointed out that dealing with Big Data and attempting to mine information without the right tools can be overwhelming . “ Organisations need an analytic and data management platform designed to transform raw data into operational insights , which will support the whole analytics lifecycle . It should enable the creation of models that are both stable and highly accurate using proven techniques and advanced technologies such as Machine Learning and AI ,” he said .
Mitra said many corporate and government enterprises are leveraging data-driven insights for improving customer service , reducing operating expenses ( OPEX ), creating new business streams , and achieving overall business efficiency .
“ As per the estimates by International Data Corporation ( IDC ), the world ’ s digital footprint is estimated to reach
Jagdish Mitra , Chief Strategy Officer and Head of Growth , Tech Mahindra
Jagdish Mitra , Chief Strategy Officer and Head of Growth , Tech Mahindra , said the obvious drives for enterprises to embrace data-driven decisionmaking include : modernising the data architecture , embracing automation and AI , usage of ethical AI , data democratisation , privacy and security , employees ’ data literacy in the digital era , and , most importantly , a shift in the enterprise ’ s mindset and culture .
www . intelligentcio . com INTELLIGENTCIO AFRICA 47