The Power of Big Data in the Cloud and its Effects on the Future of Companies
There are many changes that companies are implementing in these last years in order to grow their business and to be more efficient, some are reluctant to the new ways of development and others are willing to step forward and look to a future full of success, data, and, a lot of information.
It is logical to think that the most successful companies will be those that best know how to adapt to new technologies since they will have the possibility of carrying out actions such as increasing customer retention, improving the profitability of their products, using personalized recommendations, or even detect frauds in payment systems.
But, what can companies do to achieve these benefits? Based on the knowledge of their users, and their customers, through the information and its collection. How can they do it? With different technological advances such as Cloud Computing and Big Data. Although many companies do not have the necessary processing and storage capacity to handle large volumes of data, there are public cloud services such as Amazon Web Services (AWS) that have been in charge of creating the union of Big Data and Cloud Computing, to make data analysis more flexible and economical. What makes Big Data different from other types of mechanisms used for management and analysis are the 5Vs: volume, speed, variety, veracity, and value.
Thus, Big Data allows us to know in detail the behavior of the users. As an example, companies like Spotify or Netflix have already shown how useful it can be. The objective of most of the Big Data projects is to gain knowledge about the client, this is the starting point for the development of a business.
Without going any further and highlighting the current importance, e-commerce is undoubtedly one of the most beneficial sectors. According to a study on Big Data by the Harvard Business Review, "E-commerce firms that have adopted the Big Data analysis have seen their productivity increase by 5-6% more than their competitors". This is simply because by analyzing the data you can make more personalized offers and communications. And in this way, evaluate consumer behavior and create loyal customers.
This is how, undoubtedly, unlike traditional server schemes, Cloud Computing allows the treatment of large volumes of Big Data information thanks to one of its key characteristics: scalability. Every time we need more resources for a complex process, we can expand the capabilities of our cloud platform, avoiding any type of saturation.
So, don't you think that migration to the cloud is an urgent decision? It shouldn't be a choice, it should be a must for companies. Smart, data-driven companies rather than intuitions are needed to become more efficient.
The growth of Big Data will not stop for a long time, the use of data is the new standard to manage businesses and guide them towards growth. We are building a world of data, the power is in the data, in the analysis of big data and the development of business intelligence. According to a study carried out by MIT Sloan Management Review, “85% of companies consider that the Artificial Intelligence application supported by Big Data will allow them to offer added value to their consumers compared to their competitors”. In this sense, the report calculates that 60% of the firms will use this technology in 2020.
At Teracloud we work with Artificial Intelligence helping your business understand and perceive its environment, maximizing the chances of success in accomplishing your goals. Through an efficient Data Strategy, you will obtain a 360 vision of your current and potential clients with an accuracy rate of 80-95%; incorporating to measure efficiency, productivity, and performance and thus find a form of business optimization backed by data.
In addition to this, we generate a cybersecurity plan for your business, keeping your data and clients' information safe and secure. In the same way, we use Machine Learning to generate algorithms that improve efficiency over time and through the allocation of resources to achieve future goals.
Implementing this technology becomes a necessary step to take, and what better option than Teracloud experts to advise you and give you the guidelines to start growing.
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