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Technology Other News 31 Aug 2018 The significance of ...

The significance of Big Data and Analytics among enterprises

DECCAN CHRONICLE.
Published Aug 31, 2018, 8:21 pm IST
Updated Aug 31, 2018, 8:21 pm IST
Growth and competitiveness depend on your ability to collect, integrate, manage and transform data into business insights and outcomes.
The future belongs to those who harness data opportunities.
 The future belongs to those who harness data opportunities.

Data is everywhere! Digital Enterprises generate voluminous data from transactional and operational activities. Billions of connected things are also generating data at a massive scale which is harnessed for real time analytics. 90 per cent of businesses expect data-driven insight to become a key differentiator by 2020. The future belongs to those who harness data opportunities. Growth and competitiveness depend on your ability to collect, integrate, manage and transform data into business insights and outcomes.

Big Data to Big Intelligence

 

Big Data will converge with other technologies like Artificial Intelligence technologies to support ever growing data sources and to harness raw data into real time insights. Innovation in AI algorithms brings the required speed to process outcome which can influence real time business processes. Real-time Prescriptive Analytics and Artificial Intelligence will have major impact in the automation, optimization and flexibility of connected ecosystems. Intelligence on data has the potential to transform almost every medium to large-scale enterprise such as manufacturing, retail, telecommunication, public administration, financial services, weather and climatology, defense, healthcare, transportation, media, energy and utilities.

For years, manufacturers in automotive and aerospace have understood that software models are cheaper to simulate than actual engines. But until AI and cognitive, even the most complex engine simulations could not match real-world reality.

Cloud First Strategy – Convergence of data storage and data analytics

Public cloud solutions are maturing more rapidly than on-premises data centres providing more agility and lowering total cost of ownership (TCO), making them preferred choice for storing and analysing big data.

India, as a market is gradually adopting Cloud and hence we see an enormous opportunity to analyse data on the cloud (BI on Cloud).

Big Data Fuelling Artificial Intelligence

The key ingredient which is required for leveraging Artificial Intelligence is – Big Data! Artificial Intelligence processes the big data for executing autonomous decisions.

Artificial Intelligence on massive healthcare data which includes genome and biometric data is being extensively used by many governments and private sector organizations for new drug discovery and patient diagnosis.
Computer vision is a clear target for AI, from the management of public space through to the interpretation of medical imaging. Video Intelligence is now ubiquitous, but it is a massively sensitive area: we all want to feel secure, but nobody wants to be spied on.

Retail sector is using big data and AI for personalizing services and user experiences, suggestions on products and services. For example, Starbucks is using Artificial Intelligence on the voluminous data generated by customers to identify location for new Starbuck outlets, updating menus, and for targeted and personalized marketing campaigns.

Purshottam Purswani, Chief Technology Officer (CTO), Atos India

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