Amounts of data are being generated by companies in every second. It comes from business transactions, customer, business partners, and more.
In today’s modern environment, data is considered as the fuel that drives companies to achieve their goals through the right routes. All data is gathered in a huge data set that is referred to as Big Data.
Unfortunately, even though data is considered as a crucial aspect for business growth, there still many companies that are not able to take out valuable inputs from data because they face some big data challenges.
Then, what are the big data challenges faced by companies? What companies should do to solve those challenges? Let us take a closer look on these following points!
1. Data from multiple sources
The first big data challenge faced by businesses is the need to analyze data across multiple sources, but they are placed in different platforms – based on each data type or source. This problem can lead to incomplete or inaccurate analysis.
Gathering data manually is time-consuming, so that it can limit data analyst’s insights to what should be easily viewed.
The best way to solve this big data challenge is using a comprehensive and centralized big data analytics solutions that can unify any types or sources of data into a single platform.
2. Determining data reliability
With amount of data available, it will be difficult for data analysts to classify reliable data. At the end of the day, analysis process may only focus on the data that are easiest to collect instead of those that truly add value.
Moreover, if an analyst has to manually classify reliable data, it can be impossible for them to gain real-time insights on what is currently happening. It will bring significant negative impacts on business decision-making.
Big data analytics platform that is powered by artificial intelligence (AI) and machine learning will help companies to solve this big data challenge. AI and machine learning can help analysts to classify reliable data to be analyzed automatically – so that it can drive to better, fast, and more accurate analysis result and relevant to current trends.
3. Skills shortages
Even though we have arrived at the modern world living with technology, in fact there still many companies that do not have enough resources to analyze their data properly. This problem occurs because of the platform requires complex operation, so that only employees with specific skills who have the knowledge or capability to run in-depth data analysis.
The best way to solve this big data challenge is using big data analytics platform that allows everyone to access and take full advantage of data available without having to learn complex tools or coding.
4. Require high costs
Another big data challenge faced by companies is it may require high costs to run an effective data analysis.
To solve this big data challenge, companies can implement big data analytics platform that offers flexibility in pricing scheme. By choosing platform that offers flexible payment scheme, companies only need to pay what they use and need. Then, companies can plan a more efficient technology investment.
5. Scalibility issues
As the business grows, companies may find it hard to scale as they have growing amount of data. Collecting information and creating reports becomes increasingly complex and the existing platform cannot grow as a business grows.
To solve this big data challenge, it is important to have a platform with a good level of scalability. So, we do not need to worry about how much data we have, and how much data we will have in the future. It allow companies to manage unlimited amount of data without affecting the quality of its performance.
That’s all about the 5 major big data challenges and ways to solve them. If your company face those challenges, then you need to think about implementing big data analytics platform named Teradata Vantage.
Teradata Vantage is the data analytics platform that can unify data lakes, data warehouses, analytics, and new data sources and types. Moreover, this platform comes with the benefits and capabilities that help companies to solve all previously mentioned big data challenges by having good scalability, powered by AI and machine learning and pay-as-you-go pricing with no complex coding required.
If you are interested in Teradata Vantage, you can visit the link https://phincon.com/teradatavantage/ and enjoy your 30 days free trial!
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