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Introduction
Few noteworthy facts:
Everyday 1 terabyte new trade data is being
produced by New York Stock Exchange.
10 billion photos are being hosted by facebook that takes 1
petabyte storage space.
Around 2.5 petabytes data is being stored by ancestry.com.
Internet data is growing by the rate of 20 terabytes per month. Currently internet
archive stores approximately 2 petabytes data.
Around 15 petabytes data per year being generated by The Large Hadron Collider near Geneva.
As per Gartner report, big data has already become focal point of discussion for companies.
Now most of the organization will be concentrating and finalizing on process to make
investment in big data.
Threat Management
Precise risk assessment can help to make high
quality decision, reduce costs and comply with
regulatory guidelines. There is humongous data
available to analyze. Companies require a
universal workflow and thought process to
successfully detect and evaluate all threat
possibilities, well-known or anonymous, that their
company might encounter. Businesses should
detect all threats to the organization. Be a threat
on companys brand image or data violation or
regulatory guidelines. Post threat detection,
organization must analyze their impact on
business opportunities. Big data analysis can
help to maintain a balance between threat and
opportunity.
Jaspersoft BI Suite
It is also an open source package that creates
reports from database column. One of the most
valuable features of this
package is ability to
convert SQL tables into PDF. Companies are using
this feature to present the table into PDF format
and discuss in meetings. The JasperReports
Server provides software to suck up data from
storage platforms such as:
MongoDB
Cassandra
Redis
Riak
CouchDB
Neo4j
Hadoop
Pentaho started as engine to produce reports. Now it is entering into big data
amaking simple to gather data from new sources. Pentaho's tool can be hooked up
with NoSQL databases like MongoDB and Cassandra. Post connection with
database, columns can be dragged and dropped into views. It presents in such a
way that it seems information has been taken from SQL database.
Splunk
Splunk It is not precisely a report-producing tool or a group of AI routines. However
it generates reports along the way. It builds a directory of data. This indexing is
flexible. Splunk makes sense of log files as it already tuned to a particular
application.
There are few more tools such as Karmasphere Studio and Analyst, Talend Open
Studio, Skytree Server that can be utilize for business and data analysis.
Organizations will get into big data with their own unique thought process.
Companies would be focusing on analytics and agility as they would want to take
advantage of big data and IT. Conventional businesses will not get altered but
innovative technologies would alter business process and practices that would help
organizations to be more agile.
Ontology Assessment
Connections among sources and entities can be built to create
specific structured database through analysis. It might be a time
consuming task but obtained insights would be significant to
any business.
Impact Measurement
It is important that analysis results are shared in a tabular and graphical format. It should give actionable insights.
Information should be rendered in such a way so that it can be accessed and utilized on handheld device or web based tool.
It would help end user to make the most out of analysis result. ROI should be measured in terms of investment & cost and
also in terms of improvement in process efficiency and effectiveness.
The actual worth is in usage of data analysis for 360 degree insight. It should have combine analysis of structured and
unstructured data. Structured data can forecast consumer behavior. Unstructured data analysis can reveal motive behind
such behavior. Fresh data sources like social platforms are vital to companies as they offer unique information that can be
analyzed. Data scientists need to equip themselves with new and appropriate skills to analyse unstructured data.
About Orchestrate
Orchestrate is a US based business process management
organisation with Headquarter in Dallas, USA. Orchestrate
satisfies to the diverse outsourcing requirements of clients
in an extensive range of businesses, including IT, finance,
mortgage, utilities and healthcare. Orchestrate is continuously motivated to add significance to clients businesses
through efficient back office practices and noteworthy cost
savings.
www.orchestrate.com