IOT Energy Meter at Sfere Electric

Big Data Analytics is changing the way businesses work by using predictive analysis which helps to gather insights related to improving ROI and provide seamless solutions.According to research, it is found that about 1.7 megabytes of data will be generated every second, and there will be 3.5 billion search queries on Google every day by 2020.

The humongous data is a clear indicator of the importance of better opportunities that businesses will get with Big Data.

Also, companies are expected to spend over 57 billion dollars this year for Big Data to become more competent in their craft and stay ahead of the competition.A brief history of Big DataWhile the term ‘Big Data’ seems to be relatively accurate in the business scenario, the concept of collecting data in large numbers started years ago.

In the early 2000s, industry analyst Doug Laney coined Big Data as the collection of three different things.Variety: For businesses working in different domains, data can come in various forms from various sources.

Previously there were only databases and spreadsheets that were considered as data sources, whereas emails, videos, and monitoring devices form the new age data sources.Volume: As business organizations have data coming from a variety of sources, the storage of data in a synchronized manner can be a problem.

The tools will identify effective manners in which the data can be stored, and businesses can have better opportunities.

The new technological innovations have changed the concept of working organizations. If the work can be done in an automated process, it not only saves on time but also efforts. Robotic process automation has totally changed the concept of business functioning. It has become a key factor in transforming your organization.

The Role of RPA

It lets you fine-tune with technological innovations that help you to gain a competitive advantage over the evolving market. The new process gives you an upper edge as compared to your competitors.

RPA works as a virtual assistant to complete difficult tasks such as process transactions and data analysis. It also lets you communicate with other digital systems. RPA automation offers complete flexibility and improves the overall workflow of the company.

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Over the two decades, we have observed many technology replacements which totally astonished the human race.

From screen touch smartphones to the VR technology, there are number of advancements that define the new era of the tech-driven world.

The startup invented a new way to transfer the data from one smartphone to other more efficiently with a single touch and named it ‘KIss connectivity’.

The Kiss connectivity is the fastest channel to transfer the data between the devices with the speed of 6Gb per second.

Consider, you need to transfer data from one smartphone to another and both the devices have kiss connectivity chip inbuilt in them.

The chip embedded in both device let them connect magnetically and create a channel to transfer the data instantly.

The global data classification market size is expected to reach USD 2.44 billion by 2025, expanding at a CAGR of 25.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing stringency on regulatory compliance, generation of large data volume, and the introduction of big data and machine learning technology are some of the major growth drivers for the market.

Moreover, the data-driven decision-making for sales, rising product launch, and increasing number of enterprises are some of the factors providing impetus to the growth.Data classification offered as a standalone and integrated solution is changing the way the information is generated, stored, and processed.

The homogeneously tagged information with industry defined classification is vital in generating actionable insights.

Hence, enterprises are inclined to opt for integrated data security platform for data classification as well as protection.

Moreover, repercussion of non-compliance can lead to huge financial and reputational losses.

Hence, the adoption of data classification solution is vital to address the data security concerns of the organizations as it classifies the information based on the nature of content.Data classification solution is anticipated to witness high adoption across major developed countries such as U.S., Canada, Germany, and Japan.

Lawyers would clearly articulate new things you had to start doing, old things you had to stop doing and help sort through the shades of grey in between on the parts of the new regulation that weren’t clear.

Instead, it proved to be a painful, somewhat messy process for our Product team.

We would often receive impractical requests, asks from partners that couldn’t be seen to fruition, all on impossibly short deadlines.

Considering the obstacles we faced, it is with some pride that I recognize what our teams were able to accomplish and that they ultimately completed the job.

Once our policy agenda was finalized, we created a number of internal practices to ensure our Products and Services are not only compliant, but in line with the high ethical standards we have set for ourselves and are demanded by our clients.

There are three key components:Senior leadership review board: A collaboration of leadership across all functional areas of the company that together consider challenges and major policy decisions related to uses of data and technology.

Big data and AI help businesses to enhance the customer experience, boost ROI & productivity and making business processes smoother.Artificial Intelligence and Big data are and will be the essential factors that will shape the present and the future of your organization.

Human intelligence amalgamated by AI in business and Big data will bring some dramatic changes and expand your business in directions that you have never imagined.

Thus with AI and Big Data, the potential is limitless for your business as it will take your organization to a roller coaster ride that always goes up.Read More: Artificial Intelligence and Big Data: The super team to take your business ahead