Big data is the fuel that drives many aspects of our businesses today. With this, the ability to manage large datasets has become critical to the success of a company. But even with the proliferation of various data management methods, functions and tools, most companies remain far behind in the implementation of a sound big data strategy. On the other hand, those that have a big data strategy in place often find themselves facing some issues in how they can use data to make decisions. A cross-industry strategy shows that less than half of structured data in organizations is used in making decisions, while below 1% of the unstructured data is used in doing the same. The same study notes that more than 70% of employees have access to data they should not be accessing in the first place.
Ever since the invention of computers many developments have shaped human lives. The invention of the internet was a landmark achievement which set up the stage for more things that followed. Many would have thought that the internet was the biggest thing ever but it was only a lead-in to developments in the world of big data, AI and IoT. Big data, AI and IoT have revolutionized the world we live in but what exactly are these terms?
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