Online Manipal Editorial Team | June 06, 2022
Companies around the world have realised that they need to hire data scientists to meet the data-driven transformation in the industry across sectors. The onus is on higher education institutions to produce skilled data scientists to bridge the growing talent gap. Accordingly, universities have already introduced data science programmes. It’s hard to be an expert in everything, especially with new technology and techniques arriving every week. So, why should you spend time knowing which Big data technology you want to learn? What are the reasons you should prioritise Big Data and Big Data technologies?
In this article, we’ll delve into the top reasons to learn Big Data Technologies and the value of Big Data for your business.
What is Big Data?
Big Data refers to information assets with a high volume, high velocity, or high diversity that demand new types of processing to enable better decision making, insight finding, and process optimisation.
Let’s take a closer look and see what’s going on.
The term “big data” is self-explanatory: it refers to a collection of large data sets that are inaccessible to traditional computer techniques. The word encompasses not just the data, but also the numerous frameworks, tools, and strategies used to analyse it. Technological advancements, as well as the introduction of new communication channels and more powerful devices, have provided a challenge to industry players in that they must develop new ways to handle data.
All of this data is helpful after it has been analysed systematically, but it was neglected for a long time until the concept of big data technologies was introduced.
Advantages of big data for business
Here we’re analysing the advantages of big data technology for businesses.
1. Using big data can help you save money: Contractor maintenance costs were less compared to the average of the company’s other vendors. The organisation could rectify invoice processing mistakes and automate service schedules as a result of this approach.
2. Using big data boosts your productivity: The use of digital technology tools improves the efficiency of your company. You can eliminate many desk or travel tasks by using Google Maps, Google Earth, and social media without incurring trip costs. These tools also help you save a lot of time.
3. Big data can help you optimise your pricing: To examine your finances, use a business intelligence tool, which can provide you with a better view of where your company stands.
4. You can compete with big businesses: Using the same tools as big businesses allows you to compete at an equal pace. By utilising the resources that are accessible to you, your business becomes more complex.
5. It enables you to concentrate on local preferences: Small enterprises should concentrate on the communities they serve. Big Data allows you to focus even more on your local client’s likes and dislikes. You’ll have an advantage over your competitors if your company gets to know your customers’ preferences and adds a personal touch.
6. Big data can help you boost sales and loyalty: The digital footprints we leave behind disclose a great deal about our shopping habits, opinions, and so on. This information enables firms to adjust their products and services to the exact needs of their customers. When your customers go online and publish on social media sites, they leave a digital footprint.
7. Using big data guarantees that the proper people are hired: Recruiting firms might look for terms in candidates’ resumes and LinkedIn profiles that match the job description. The recruiting process is no longer centred on how a candidate appears on paper or is regarded in person.
Reasons to learn big data technologies
The following are some of the most compelling reasons to learn big data technologies.
- Data-driven decisions give you a leg up on the competition
Data-driven decisions have been shown in numerous studies to be more effective and efficient than decisions made by humans. Big data technologies enable businesses to identify trends and patterns that can be used in the future. It can assist in identifying which clients are most likely to purchase products or in optimising marketing campaigns by determining which advertising methods have the best return on investment. Big data technologies make clear that companies that ‘know‘ more than their competitors will outperform their counterparts over time.
The ability to begin making data-driven decisions is one of the primary business motivations propelling Big Data technologies. Data-driven decision making is the technique of making decisions based on data analysis rather than intuition. It is feasible to know sooner which products and services will be successful thanks to data-driven decision making, and Big data technologies give you a first-mover advantage to be first to market.
- Big Data technologies serve as a launching site for AI
Artificial Intelligence (AI) is one of the most sought-after skills in today’s business world. Most individuals are unaware, however, that Big Data technologies serve as a basis for organisations looking to begin AI projects. AI is mostly based on the same principles and processing capabilities as Big Data organisations. Companies who want to use AI in the future would profit immensely from first establishing a solid and structured Big Data ecosystem.
- Big Data expertise is in high demand
The demand for skilled Big Data specialists is fast increasing because of an increase in adoption of Big data technologies and trends. There is currently more demand than supply, resulting in significant rises in salaries and payments for those with the requisite skill set. A growing number of job advertisements for Data Analysts or Data Scientists have appeared on major employment opportunity platforms. The need for Big Data specialists with this skill set is increasing, but supply is still scarce. Individuals in this profession will have a lot of work options as a result of this.
Big Data professionals are compensated more and more as demand rises, and supply stays limited. This trend is visible all across the world, as more and more corporations recognise the value of these people to their organisations.
- Big Data investments continue to rise
Many research and surveys demonstrate that Big Data investments are increasing year after year. Hardware, software, and services related to Big Data increased at a compound annual growth rate (CAGR) of 11.9 per cent, with revenues exceeding USD 210 billion. The rise in spending indicates that Big Data technologies and trends will continue in the coming years and that devoting time to its study is not a one-time investment.
- Big Data research will extend your horizons
Last but not least, and perhaps most importantly, studying Big Data technologies is a worthwhile and enjoyable investment for your future. Big Data technologies and data analysis are full of puzzles to answer, and they will considerably improve your analytical and reasoning skills. Statistics and problem-solving abilities are two primary aspects of Big Data. These skills are useful and highly practical on a day-to-day basis, even if you don’t want to pursue a career in Big Data.
After learning Big Data top technologies for a few months, you’ll begin to include ‘Big Data’ strategies into your presentations or reports as they provide a very solid foundation for discussion and decision-making.
Data-driven decisions will always surpass intuition-based decisions in the end. So set aside one hour each day Big data technologies to learn about the fascinating world of Big Data.
Why is Big Data career the best move in the industry?
A career in Big Data comes with a lot of benefits.
Simple to begin: “Data Analytics” refers to the use of programming frameworks such as Java, C, Python, or Scala; nevertheless, the ability to think of new approaches to solve problems is also required. Data analytics makes it far more comfortable and pleasurable to learn in-demand languages and to specialise over time while maintaining a natural desire to find solutions independent of your current employment.
Lucrative salary: The continual demand for data analysts in various industries is now pressuring organisations to spend substantial sums of money on employees with good abilities. As a result, it will provide an optimistic and exponential increase in salary trends for Big Data Analytics specialists.
It has the potential to improve retailer-customer relationships: When Big Data Analytics reaches B2B organisations, it will provide deeper insight into customers and eliminate the danger of guesswork. When the firm implements the evidence-based segmentation and reporting system, there is a probability of gaining more fluid and user-driven consumer information. All we can say is that the Big Data Analytics team will have a better foothold in the customer’s investment channels.
Big Data Analytics is crucial in decision making: Making business analytics procedures has become an immediate competitive resource for every community these days. We can see that only the most basic analytics are being conceptualised and adopted by businesses. When superior decision-making capabilities are encouraged, and strategic industries are utilised, analytics shines out among the competing possibilities. In this scenario, we can predict that Big Data Analytics will continue to bring tremendous value and present critical information to help businesses reach new heights. It will also ensure that business decisions are delivered on schedule.
Choices for advanced skill development to become a mentor: You become a recognised individual for working in a firm when you gain hands-on knowledge of the enhancement of programming abilities, which increases your chances of applying for the post of mentor and performing with the team. In this manner, you can broaden your expertise in a specialised field, increasing your chances of landing a job. You can then take on various Big Data Analytics agendas, which will provide you with a steady stream of money. You can also become a stakeholder for offering Innovative explanations with data visualisation at the same time.
Job titles in Big Data
Here are the some of the job profiles you can explore in the Big Data.
- MIS reporting
Management Information System reports are used by business managers to track progress, make decisions, and identify problems. Most systems include on-demand reports that compile business data such as sales income, customer support calls, and product inventory and may be shared with key stakeholders.
Although many of their responsibilities are similar to those of data analysts, business analysts are specialists in the field in which they operate. They are attempting to bridge the gap between business and technology. Company analysts provide technology-based solutions to improve business processes such as distribution and productivity.
To achieve reliable findings and make proper judgments, statisticians collect, organise, present, analyse, and interpret data. They are critical to the success of businesses in market research, transportation, product development, finance, forensics, sports, quality control, the environment, education, and government agencies. A large number of statisticians are still employed in academia and research.
- Data Analyst
Data scientists are one of the most in-demand specialists today. They rule the roost among number crunchers. According to Glassdoor, this is the finest career role for someone who values work-life balance. Data scientists aren’t just writing success stories for global behemoths like Google, LinkedIn, and Facebook any longer. Almost every company’s careers page lists some type of data role. There is a lot of overlap between data scientists’ and data analysts’ job descriptions.
- Engineer/Architect of Data
The designers, builders, and managers of the information or big data infrastructure are known as data engineers. Data engineers ensure that an organisation’s big data ecosystem is up and running so that data scientists can do their work.
- Machine Learning Engineer
With the massive amount of data we have access to, machine learning (ML) has become a flourishing field. And, happily, the world still requires engineers who can decipher this data using cutting-edge algorithms.
Become a Big Data expert with an online M.Sc. in data science from Online Manipal
Manipal Academy of Higher Education (MAHE) is now offering a UGC-entitled online postgraduate degree programme in data science. You can enrol in this cutting-edge course to become a future-ready data science professional. Learn all the niche skills in data science from the comfort of your home and emerge as an in-demand domain expert. If you’re a graduate in Statistics/Mathematics/Computer Science [B.Sc./BE/B.Tech/BCA] or have an equivalent degree from a recognised university with a minimum of 50% of marks or equivalent grade, you can enrol in the M.Sc. data science course at Online Manipal.
The learning management system (LMS) contains all the learning material including bite-sized readings, short videos, recorded lectures, quizzes, an e-library and a discussion forum. Live lectures are scheduled at learners’ convenience. The curriculum is a blend of data science, machine learning, programming languages, statistics, database management and many more. The programme also includes projects to give you a hands-on experience in the real-world applications of data science.
Companies are scrambling to find specialists who can deduce useful conclusions and create reasonable predictions from massive amounts of data. To satisfy these needs, a flood of new roles have emerged, each with slightly different functions and responsibilities, as well as varied skill sets. Aside from the blurring of lines, these jobs are fascinating and in high demand. Increasing your skill set is always the best way to go. If you want to know more about Big Data technologies, check out the online M.Sc. in Data Science programme at Online Manipal. The course gives flexibility to fresh students and working professionals. It facilitates hands-on and industry-based learning experiences, practice interviews, and top mentorship sessions to help you advance in your career. The credentials and certificate you will earn serve as proof of your expertise to the employers.
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