{"id":2726,"date":"2019-12-28T16:30:57","date_gmt":"2019-12-28T11:00:57","guid":{"rendered":"https:\/\/codelattice.com\/blog\/?p=2726"},"modified":"2025-09-25T12:36:13","modified_gmt":"2025-09-25T07:06:13","slug":"3-enterprise-big-data-trends-that-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.codelattice.com\/blog\/3-enterprise-big-data-trends-that-you-need-to-know\/","title":{"rendered":"3 Enterprise Big Data Trends That You Need To Know"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">According to a range of studies, the big data analytics market is set to reach $103 billion by 2023. In addition to this data, it is expected that <\/span><span style=\"font-weight: 400;\">by 2020<\/span><span style=\"font-weight: 400;\"> every person will generate 1.7 megabytes in just a second.<\/span> <span style=\"font-weight: 400;\">So how are analysts and companies going to use it?\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Big data and analytics\u00a0\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You might ask yourself, what is <a href=\"https:\/\/www.codelattice.com\/blog\/big-data-what-it-is-and-why-it-is-the-future\/\">big data <\/a>anyway? Gartner\u2019s <\/span><a href=\"https:\/\/www.oracle.com\/au\/big-data\/guide\/what-is-big-data.html\"><span style=\"font-weight: 400;\">definition<\/span><\/a><span style=\"font-weight: 400;\">, circa 2001: Big data is data that contains greater variety arriving in increasing volumes and with ever-higher velocity. Big data is focused on the 3 V\u2019s, these being, variety, volumes, and velocity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Big data analytics <\/span><a href=\"https:\/\/www.sas.com\/en_au\/insights\/analytics\/big-data-analytics.html\"><span style=\"font-weight: 400;\">work to uncover<\/span><\/a><span style=\"font-weight: 400;\"> hidden patterns, correlations and other insights through the use of AI, the application of software and backed by skilled analysts. It is used across industries such as banking, life science, manufacturing, health care, government, and retail to make informed decisions, remain nimble and form cohesive strategies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Big data is pulled from a wide range of sources, not just your Internet browsing history! Data is derived from <\/span><a href=\"https:\/\/www.ibm.com\/analytics\/hadoop\/big-data-analytics\"><span style=\"font-weight: 400;\">a wide range<\/span><\/a><span style=\"font-weight: 400;\"> of sensors, devices, video\/audio, networks, log files, transactional applications, web, and social media \u2014 much of it generated in real-time and on a very large scale.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Big data and AI\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">AI or <a href=\"https:\/\/www.codelattice.com\/blog\/the-boom-of-artificial-intelligence\/\">artificial intelligence<\/a> has a lot to do with big data analysis and disruption. Take the banks in Australia for instance \u2014 the banks had a duopoly for so many years, with the \u201cfour pillar banking system,\u201d allowing for very little competition or product differentiation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Artificial intelligence is transforming <\/span><a href=\"https:\/\/www.fintechnews.org\/digital-disruption-what-should-banks-do\/\"><span style=\"font-weight: 400;\">a variety of<\/span><\/a><span style=\"font-weight: 400;\">\u00a0banking\u00a0functions and allowing tech start-ups to compete with some of the largest banks for a market share of key services, including\u00a0lending\u00a0and\u00a0wealth management.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Where traditional banks are filled with time-consuming processes, paper-heavy transactions and have a turning circle of the Titanic, the new FinTech market entrants have been built from the ground up using big data, AI and innovation as their platform to build growth at an epic pace.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Big data and online travel\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Big data isn\u2019t just the banking industry, it is also branching out to the online travel industry, which has been a major disruptor to how we travel, has leveraged big data in five key ways.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other industries big data is infiltrating include revenue management, reputational management, strategic management, enhancing customer experience and market research.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It has allowed the travel industry to make more evidence-based decisions and include the ability <\/span><span style=\"font-weight: 400;\">to anticipate<\/span><span style=\"font-weight: 400;\"> future demand more accurately, optimize pricing strategies, target marketing more precisely and improve the customer experience.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Big data is all around us, and companies that embrace it can make \u201cevidence-based\u201d decisions in real-time, making them nimble, more profitable and highly accountable. Where traditional business models and statistical analyses were completed reactive, big data is a proactive, predictive business tool that is changing the way we all live, work and consume.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a range of studies, the big data analytics market is set to reach $103 billion by 2023. In addition to this data, it is expected that by 2020 every person will generate 1.7 megabytes in just a second. So how are analysts and companies going to use it?\u00a0 Big data and analytics\u00a0\u00a0 You [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":2727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[375],"tags":[436,264],"class_list":["post-2726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-experience","tag-bigdata","tag-technology"],"acf":{"heading_txt":"","webp":"https:\/\/www.codelattice.com\/blog\/wp-content\/uploads\/2019\/12\/ezgif.com-gif-maker-15.webp","faq":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 Enterprise Big Data Trends That You Need To Know - Codelattice Blog<\/title>\n<meta name=\"description\" content=\"Big data is collected from a multitude of outlets, not just the surfing history on the internet ! 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