Variety, volume, velocity and value – These factors are of no consequence if organizations are not able to derive actionable insights instantaneously and in real time. This fifth dimension – speed – is essential for enterprises to draw quick insights on the analyzed information and to ensure the value of derived information. Adding further credibility to speedy analytics is the projected growth rate of data by the year 2020, which says the world will see 40 zettabytes of data, increasing at 50 times per year. In addition, market surveys suggest that almost 73% of the organizations spend 20% of their IT budget on leveraging their big data solutions.
A look at three prominent advantages of applying ‘speed’ to analytics:
1. The returns from investments on big data analytics have become faster. In a recent survey by IBM, 63% of the surveyed companies are experiencing returns within a year while 26% are generating ROIs within half a year.
2. Big data and analytics solutions are now used for solving operational challenges as well, while customer personalization continues alongside. A survey shows that 40% enterprises are utilizing analytics for addressing operational issues.
3. Last, but not the least, the entire businesses are getting re-invented using technology and data analytics solutions are driving businesses in achieving this feat powered by access to well-organized information.
Clavax Technologies is a provider of big data and analytics solutions to businesses and empower them with actionable insights on their markets, consumers and latest products or services. Besides offering analytics solutions, the company also has a team of web developers in California to create intuitive and easy to navigate websites for their clients.
A look at three prominent advantages of applying ‘speed’ to analytics:
1. The returns from investments on big data analytics have become faster. In a recent survey by IBM, 63% of the surveyed companies are experiencing returns within a year while 26% are generating ROIs within half a year.
2. Big data and analytics solutions are now used for solving operational challenges as well, while customer personalization continues alongside. A survey shows that 40% enterprises are utilizing analytics for addressing operational issues.
3. Last, but not the least, the entire businesses are getting re-invented using technology and data analytics solutions are driving businesses in achieving this feat powered by access to well-organized information.
Clavax Technologies is a provider of big data and analytics solutions to businesses and empower them with actionable insights on their markets, consumers and latest products or services. Besides offering analytics solutions, the company also has a team of web developers in California to create intuitive and easy to navigate websites for their clients.
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