The enterprise benefits of Hadoop-powered analytics
Big data and Hadoop have generated a lot of buzz among numerous industries in recent years. Drawn to the promise of deep insights into markets and consumer behavior, organizations have invested heavily in the development of this technology. According to Wikibon, the total big data market is projected to increase 61 percent in 2013, topping $18 billion. TechNavio's researchers reported similarly promising expectations for the global data analytics market, predictive a compound annual growth rate of more than 55 percent through 2015.
With so many companies pursuing solutions supported by Apache Hadoop, businesses that fail to launch their own data analytics projects are in danger of falling behind and allowing their competitors to reap the rewards of the burgeoning technology. As enterprise solutions expert and CIO contributor Reda Chouffani recently noted, there are numerous benefits to deploying a well-executed data analytics program:
- Identify new business opportunities: Companies that fail to expand their market penetration are at significant risk of stagnation. Data analytics tools built upon a Hadoop architecture can help enterprises locate new areas for growth, including untapped consumer demographics.
- Improve data management processes: Modern analytics programs are capable of not just collecting data, but also storing it in a fashion that will facilitate access and allow users to leverage information for a variety of tasks.
- Expand data sources: Traditionally, enterprise data has been compiled from text-based sources, limiting the scope of an analytics project. However, Hadoop-based tools allow researchers to gather data from such disparate sources as video and audio files, providing a fuller understanding of market and customer trends.
- Clarify results: Before the advent of big data and Hadoop, most analytics projects culminated in researchers plotting figures onto a spreadsheet that were nearly impenetrable to the average C-suite executive. Data visualization tools now allow analysts to create dynamic presentations that clearly display the implications of a completed project and provide a guide for future action.