$1.2 trillion dollars. That’s what analysts believe that those using big data in business will earn at the expense of their less insightful colleagues.
This is predicted to happen by the end of 2021. Big data is here, and it’s here to stay. Use it, or your business might lose out. In this post, we’ll look at how big data is affecting enterprise software across the globe.
According to the National Cyber Security Alliance, 60% of SMEs & SMBs that are hacked go out of business within 6 months. Running a business is a risky proposition. Developing and maintaining a successful business in the technology driven age can be quite difficult. When it comes to security, a data breach can quickly escalate into a devastating event that has the ability to completely ruin a brand.
IBM reported that the average total cost of a breach ranges from $2.2 million to $6.9 million, depending on the number of compromised records. The average loss rises to $6.9 million when the number of compromised records are 50,000. It is $2.2 million for less than 10,000 records.
Today, data is a highly valued entity. It is growing at a staggering pace, managing it is becoming a severe challenge for companies. Due to the volume & complexity of information, data integration, extraction & analysis is not feasible using traditional software. Big data is the way to deal with the data complexity using special techniques and methods to analyse, extract and churn out meaningful insights from data. Read More “Big Data for Making the Big Bets in Your business”