Big data analysis continues to show how important it is to business strategies. Many companies across the globe are using big data technology to aid in the analysis of generated data. While software used to be the number one concern for digital transformation, data has usurped the role as the main concern. However, software development can still support data driven strategies. In fact, software development can become data-driven itself. Here is some information about how software development can benefit data driven strategies.
Database workloads on the move
Lock-in is one of the main concerns that organizations are considering. An excellent way to address this concern is by considering multi-cloud and hybrid cloud strategies. While some applications and data are remaining on private clouds that are on-premise, others are moving to a multi-cloud storage and retrieval plan.
Companies globally are turning to multi cloud and hybrid cloud strategies in droves. It is believed that hybrid and multi-cloud strategies drive speed, efficiency, and flexibility. They are particularly concerned about consistency, security, and monitoring.
There is a significant drop between the current and the projected custom database workloads. Many companies today still use custom developed application architectures, such as database workloads. However, as data driven strategies become more dominant, it is expected that many companies will abandon their database workloads in favor of more technology-advanced options.
Of course, database workloads will not disappear completely anytime soon. It is likely that many companies will outsource their database workloads to cloud managed databases. Many experts predict that many companies will be jumping on the cloud databases bandwagon.
Integration of Big Data Technology with Traditional Business Intelligence
Many experts view the integration of big data technology with traditional business intelligence as the future. Businesses are combining the two in hopes of improving the customer experience and improving the fact-based decision-making process.
Business intelligence has proven itself to be an invaluable tool when it comes to help companies understand their target audience. However, the main disadvantage of business intelligence is the slow turnaround. Fortunately, software development and big data has helped reduce the significance of this impediment. In turn, this has led more businesses to start taking advantage of business intelligence. In the future, it is likely that software development and big data will continue to speed up the turnaround time associated with business intelligence.
The industries that are at the forefront of using software development to benefit data driven strategies include the financial and insurance sectors. These sectors have dominated the big data scene since the beginning. The financial and insurance industries generate a significant amount of data, which has made it necessary to collect, gather, and analyze this data. It is expected that other sectors, such as the health care industry, will follow suit.
Many businesses are recognizing the importance of data driven strategies and are making changes to their processes accordingly. Experts believe that the pace at which companies are adopting big data technology and services will rise significantly in both the short-term and in the long-run. For more information about how software development can benefit data driven strategy, don’t hesitate to contact us.