When it comes to better technology and advanced user experience, many think about better software and designs. But many fail to notice the fact that better experience and services provided by the companies and industries is because of the better data analytics. Today, data collected from different users and industry sources are making it possible for a business to make their services user-friendly and customized.
Now that data is deemed as useful and important for coping with rising consumerism and competition, new and better ways to enhance the databases are becoming the central point of businesses.
Today, a large amount of data is available in the market which can be used to better the services. Online sources, the internet, internet of things, etc. are some of the major sources which are giving rise to waves of new data being created every day. Whether the background is technological or non-technological, data is powerful and helps make better decisions. Therefore, innovations are coming to the screen and better analytics are used to utilize such large amounts of data.
This, in particular, is called a data explosion and is said to be one of the biggest IT trends of the century.
Reason for Data Explosion
Some of the basic reasons why data growth is so prominent these days are listed below:
When the computers and software start working at a better efficiency level and better conjugation with other processes, then the technology becomes swift and more trustworthy. This has led to excessive use of computational power for almost everything which in turn is affecting the amount of data that is collected.
There are supercomputers used these days, which are running at some of the greatest speeds as compared to how they used to work 10 years before. Also, today, cloud computing is one of the biggest creations that every enterprise is taking into consideration. People can get on-demand computing power and at cost-effective prices. This has given rise to better computation functioning and more usage among the organizations and thus more rise in the data that is produced.
With rising structural technologies in almost every field, the use of these technologies is rising at a much faster pace. Today, people tend to use technology and appliances for almost everything and every technology tends to produce and collect data.
Looking at the number of people using the technology, it is easily recognized as a fact that various types of data are produced every minute. All this data is useful in some of the other manners that can be analyzed to get a better insight into what customers and clients want.
Internet of Things
Other than the general technological advent, the rise of the internet of things is also becoming one of the major reasons why there is a data explosion. Today, almost every physical and digital object is a part of the internet of things, that is, they are capable of collecting data from the use of the device and transact them as well. Today the internet of things is making technological things possible like smart functioning homes, smart grids, smart cities, etc., which uses the network connectivity and embedded electronics at the core of it.
World Wide Web
One thing that nobody can ignore is that today’s world revolves and functions around the world wide web or internet. The user generation is quite high and the internet-using community is increasing every day. This exponential growth of internet users is leading to the growth of data that is transacted every day on the web. One of the many cool facts you should know is that 4.54 billion people use the internet.
Also, the access to the internet is becoming more widespread and also the increase in bandwidth has made it possible for more people to use the internet at higher speeds. All this has led to the high production of data from all across the globe which later becomes the seed for various data science course projects.
Social Networks and Advertising
Everybody is well aware of the fact that today the entire globe is well connected with the help of social networks. Social networks are such platforms where people from different walks of life and different places come together and create a big community.
Through these social media platforms, people share a lot of data in the form of likes, pictures, music, videos, etc. Therefore, the data sets that are produced in volume can be highly effective in making the interfaces and communication lines much better. Another part of the internet is internet advertising which is also a great source of data sets from all over the world.
With increasing economic structures and industries spreading globally using various conventional and digital techniques, the amount of data is also increasing rapidly. All the traditional commercial industries like travel and tourism, online stores, online education, etc. are also capable of producing a large amount of data that is taken part in the data explosion.
Reduced Cost of Mobile Technology
Whether large or small, it does not matter because the economies are becoming cost-effective. Today, the digital and mobile technologies are easily available at lower costs, which makes it more readily available to everybody and everyone in a society. With the increased usage of mobiles and tablets, the amount of data that is transacted is also increasing rapidly, which in turn is growing the data collection.
As mentioned above, there are many reasons why there is this sudden growth in the databases, and as these reasons are performing collectively, we can see why data explosion exists.
Managing Data Boom
Data boom is something that is one of the biggest topics that is dealt with within the field of information technology. Several things need to be taken care of when it comes to proper database management and when the amount of data is increasing at such speeds, things tend to become more difficult.
For handling such a large extent of the databases, new and better technologies are considered which is better in their overall performance and reachability. The main target of data analytics course and science is to find meaning from the data collected and when the amount of data is of such large volumes, extracting insights from them all can be quite difficult.
Managing and handling such data means there is a need for better data architects and better data analysts with great knowledge of their niche and world. The volume of data is large and that is not the difficulty; the speed of the data boom is also an evident problem. As the data is growing at a faster pace in a more linear pattern, the professionals need to be equipped enough to capture all that data from the right sources and make quick decisions in identifying the process for it. To make the collected data useful, there is a continuous need to update the data collection techniques in addition to improving the architectural tools and decision-making structures.
Better Tools and Techniques
Another crucial part of the data explosion world is the fact that as compared to the rate at which the data is growing, the rate at which the newer data innovations are coming to the scene is even more spurring.
Innovations in the category of database platforms and database management engines are quite high and spreading quickly in the market. When the data is growing at such a large pace, the technologies that are trying to cope with such databases is also growing and developing. Cloud computing is also one of the major technologies that is helping in coping with big data. Since there are many companies that cannot afford to have a big data infrastructure, they can hire from cloud computing service providers making it easier for data analysis.
Challenges Faced by Industries
With everything positive, there are certain negative things as well. One such negative point of data explosion is the lack and breach of privacy. When the data collected and produced is so large in volume, then the chances of things getting out of hand is also a big problem. Privacy issues are one of the biggest issues today because the data is collected from several sources and people and that can breach the privacy on so many levels.
Data collection is retrieved from different sources and that means user data is continuously scrutinized and monitored which can raise privacy issues and breach issues as well. Data from digital media, social media, shopping carts, consumer behavior tools, etc. are some of the sources which record the user data and this can lead to privacy interventions.
Most of the platforms tend to make the users aware of all the data and people can also customize what data is to be made available and what they do not want to share, but still, the chances of a breach is a possibility that can’t be ignored.
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Senior Data Scientist and Alumnus of IIM- C (Indian Institute of Management – Kolkatta) with over 25 years professional experience ,Specialised in Data Science, Artificial Intelligence, and Machine Learning.
ITIL Expert certified
APMG, PEOPLE CERT and EXIN Accredited Trainer for all modules of ITIL till Expert
Trained over 3000+ professionals across the globe
Currently authoring book on ITIL “ITIL MADE EASY”
Conducted myriad Project management and ITIL Process consulting engagements in various organizations. Performed maturity assessment, gap analysis and Project management process definition and end to end implementation of Project management best practices.
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