How Big Data Technologies Are Shaping UK Business Strategies Today

What Big Data has done exclusively for the UK businesses as well as the enterprises beyond the nation is correctly managing huge volumes of data and making data-driven decisions more lucidly. 

The arrival of Big Data technologies is revolutionary; that’s for sure. You can do a lot with it that you otherwise cannot do with traditional data technologies.

Consider this situation: The world processes around 0.33 zettabytes of data in a day. That’s around 338.77 million terabytes of data. 

Although this statistic states how important it is to leverage Big Data, you should know what it does for UK businesses in particular. 

According to reports from the UK government records, the application of both Big Data and Data Analytics solutions gives UK businesses 25% faster decision-making, enabling them, like a chain reaction, to increase productivity by 15%. 

But how do you think Big Data works to bring countless benefits to the UK businesses?

We can find out from this post. 

Core Components of Big Data Success 

Big Data is a rising technology in the domains of enterprise operations and institutionalised processes. 

Because it is highly scalable, adaptable, and fast, Big Data helps most UK businesses to stay ahead in data management and reduce errors. 

We can understand Big Data platforms better on the grounds of scalability, accessibility, and actionable insights:

• Scalability: Data itself is a scalable service, which in turn helps other businesses to scale better. A good example of the super-busy e-commerce platforms, the owners of which can scale its high-traffics and overall performance better with Big Data. 
• Accessibility: Did you know that UK enterprises and businesses get quality assistance with data democratisation? The goal of data democratisation is to get the data reaching the people who need it the most to access the facility of making data-driven decisions. For instance, the facilities of real-time monitoring and predictive analysis technologies help patients better. 
• Actionable Insights: This factor comes next to the data-driven decisions. When you lose less time processing high volumes of data to come to data-driven decisions, you get to ensure actionable insights. Manufacturers, for reference, use Big Data technologies to understand customers' preferences and design better products.  

Technological Innovations Driving Change 

The advent of Big Data has a reason to exist. Although AI is now powering it, Big Data originated from Cloud Computing. 

Cloud computing is foundational for Big Data because of the flexibility and scalability it brings. 

Because cloud computing doesn’t need the factor of a physical infrastructure, it does not need very sophisticated machinery and other equipment to function. It, therefore, helps in maintaining a strong network where you can chiefly work with data without having to be limited in the part of hardware. 

Although this gave rise to powerful Big Data technologies and paved the way for tools such as Microsoft’s Azure and AWS, you need to understand that they are incomplete without data analytics tools. 

Working with advanced data analytics can help you identify patterns, understand behaviour intent, visualise data, and bring out the main insights you want from jumbled or otherwise diverse enterprise data. Besides, it also helps you identify patterns more efficiently in terms of real-time data. 

In recent times, these tools and technologies have become more accessible thanks to the revolutionary Big Data solutions. Moreover, thanks to the integration of AI and ML, you get to automate parts of Big Data operations to make your data management even faster and more accurate. 

Industry-Specific Use Cases 

The data sector in the UK is constantly changing. Due to the complex nature of the country’s businesses, the dense presence of SMEs (Small and Medium Enterprises), the dominance of e-commerce markets, and the rising need for security in governmental organisations, there is a need for more industry-specific Big Data solutions. 

Why don’t you learn about them below: 

Media & Entertainment: 

Media companies rapidly need to personalise their services to the choice and the liking of their customers. This is something they can do faster by analysing and predicting user behaviours as fast as they can. The Big Data platforms of today’s world help media companies quite relevantly in this aspect. 

Financial Services: 

The primary and potential use of Big Data technologies for financial services is the security factor. Big  Data can remarkably help the FinCorps, financial service providers, institutions (banks, insurance companies), and more with steady firewall systems, with the goodness of automation. In addition to this feature, advanced data analytics and business intelligence services can remarkably help companies in this industry to study customer behaviour and come out with excellent solutions. 

Healthcare: Predictive analytics for patient outcomes

 This is not an exaggeration, but the healthcare sectors are considered one of the biggest sectors for the application of Big Data services. By 2031, it is estimated that the global healthcare sector Big Data market is expected to reach a staggering and surprising $101.07 billion. As a matter of fact, healthcare sectors have the most pressing need for large volume data processing, which can be done easily with secure and customised Big Data solutions. 

Retail: 

Retail sectors these days, particularly in the UK, are more oriented to online purchases, which gave rise to the e-commerce boom. This rate of expansion gave rise to a variety of retail businesses in the UK, where customers can purchase a variety of items as flexible as they want. As retail mainly deals with customer experiences, Big Data technologies become a staple for optimising services and improving customer experiences. 

Education:  

One of the most important sectors that deals with data is the education sector. To be frank, the education sector also deals with complex and sensitive types of data. Big Data technologies are the best at helping schools, colleges, universities, and other educational institutions with organised data management without errors in considerably less time. The result aids both students and educators. 

Overcoming UK-Specific Challenges  

We need to look at a startling fact here, which might make you question. Although Big  Data Technologies are rising with time, a huge percentage of it is not used at all. 

Is it for real?

Unfortunately, at this contemporary time, the answer is a ‘yes’. 

The statistics say that around 70% of the UK's Big Data projects cannot reach their full potential. The number of these projects, in this case, is huge, considering the huge volumes of data involved in the Big Data processing. 

The reasons for this might be the underwritten:

• Big Data technology is relatively new, and it still needs more exposure to skilled personnel to grow.  
• Many enterprises are not sure about investing in Big Data technologies, assuming potential risks. 
• Lack of understanding in GDPR compliance may also create barriers in companies to invest meaningfully in the Big Data solutions. 
• Companies often struggle to merge high-volume data, work with vast data management, or create inconsistent datasets with inaccurate data technology applications. 
• Businesses are unaware of the costs of Big Data applications.
• Transparency using Big Data applications is still not up to the mark. Companies, enterprises, and more need to be educated more with Big Data applications. 

Selecting the Right Big Data Platform  

If you are looking for long-term success, then you might want to go along with Big Data solutions and platforms. 

Mind you that professional Big Data technologies come in a variety. Moreover, they are more secure and powerful now because of integrations like AI, ML, and more. 

These factors you have just learned are a few of the reasons you want to find a Big Data provider after careful research and consideration. 

Here are two ways to help you out: 

Criteria 

You want to make sure what outcomes you want with Big Data technology implementation. Processing large volumes of data comes with Big Data, all right. However, you should define the data volumes, types, and your data processing and analytics needs to choose the right Big Data services. 

Top platforms list 

There are countless Big Data platforms on which the Big Data service providers work. Each of these platforms is suited for different kinds of enterprise-level work or operations. Therefore, you should learn about these platforms and their industry-specific applications before investing in them. 

Future Trends and Strategic Recommendations  

The main purpose of Big Data solutions for UK enterprises is to help them analyse and streamline data to understand it and make better decisions. 

The future holds more technological extensions in the Big Data platforms. From AI and automation to Machine Learning and more, Big Data technologies are developing faster than before. 

Here are the trends you want to check - 

As Cloud computing has reached a phenomenal level in the UK, most enterprises are picking CSPs (Cloud Service Providers) to get better control over Big Data solutions. 

Big Data is a technology that works faster and better with AI and ML. Automation not only enhances the speed and performance of Big Data but it also excels at providing optimum safety to Big Data platforms and operations. 

An emerging trend in Big Data operations is training respective employees on its implementation and utilisation. Enterprises must make it a priority to upskill their workforces with emerging Big Data trends and practices. 

Conclusion 

Are you ready to run your business operations smoothly with sound data management?

In that case, you want to work with effective Big Data technologies and platforms. However, you may need more assistance to find meaningful applications of Big Data. 

Along with a platform, you will need a leading IT consultancy service to guide you productively through the intricate use-cases of Big Data and make the best of data-driven decisions. 

This is where Databuzz Ltd comes in. We are a large team of IT consultants streamlining your data needs with quality Big Data platforms and curated guidance. 

We help you choose the right Big Data solution and ensure your investments are made correctly on services such as these. 

Thanks to the variety of our services and products as well as the talented school of professionals we have with us, we can be one of your best enterprise partners. 

Visit our website to learn more and join us to get effective Big Data services soon.