When big data is used properly and intelligently by organizations, it serves as the foundation for strategic, business decision-making capabilities in today's digitally driven world. The increasing number of devices and sources generating information has lead to constantly increasing amounts of data.
Big Data is characterized by its velocity, volume, and variety, and is utilized by businesses to uncover valuable insights that are applied towards:
- Leveraging business goals and objectives for competitive advantage.
- Understanding how to modify processes to increase successful outcomes.
- Addressing risks and making predictions about future events.
- Improving and personalizing customer experience.
Becoming a data-driven organization is an expensive and time-consuming endeavor that requires restructuring of internal processes and teams, implementing advanced technologies and software, and updating legacy systems.
Outsourcing agencies in Latin America are showing increasing success and impact on the data and analytics market. Latin American data center services generated $2.87 billion in 2016 and are forecast to reach $4.37 billion in 2021.
Software outsourcing enables organizations to focus on core business functions while still being able to wield the power of Big Data.
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The Big Data benefits of software outsourcing
Businesses are relying on software outsourcing to benefit from Big Data without the expense and effort of restructuring their internal processes and operations.
Software Outsourcing can provide businesses with the following:
- Access to trained, experienced data scientists and analysts who can utilize Big Data software and technologies for data collection, preparation, and analysis.
- Secure, cloud-based Big Data services.
- Data preparation and aggregation that's quickly managed via automated software.
The viability of software outsourcing is increasing as businesses leverage digital transformation. According to Deloitte, 31% of IT services have been outsourced in 2016, and will continue to increase in the upcoming years.
Big Data tools, software, and data security
In order to maximize on big data benefits, organizations need the support of big data tools, technologies, and software to obtain quality, trusted insights from their data.
Data collection, processing, and analysis tools:
- Support quality data management practices throughout data collection, processing, and analysis to gain trusted data insights that support their decision-making capabilities.
- Big data companies are using NoSQL databases to promote data integrity.
- Hadoop and its accompanying tools like YARN, MapReduce, Spark, HBase, Hive, Kafka, and Pig are also supporting big data strategies because of their ability to efficiently process massive amounts of data.
Data Visualization technologies:
- Enables companies to easily read and understand data patterns through comprehensive graphics, charts, and other visual aids.
- Helps business users make sense of their data and facilitate interdepartmental collaboration and sharing of insights.
- Tableau, QlikView, Highcharts, Datawrapper are popular data visualization tools.
- Enables organizations to use Big Data in cloud computing to streamline the processing, analysis, and management of massive volumes of data from various sources.
- Provides an agile solution for businesses by offering numerous virtual servers.
Privacy and security:
- Big data presents privacy challenges for businesses because of the amount of data being processed from diverse sources, including sensitive customer information like email addresses, credit card numbers, and other transactional data.
- Privacy can be managed by effectively addressing data security, management, and integrity with the right software architecture, including data encryption within databases, access control, and rigorous authorization policies.
Big Data: software outsourcing can provide a strategic advantage
Big Data strategies are propelling business success, innovation, and are driving competitive advantage. Software outsourcing can provide your business an opportunity to become data-driven without breaking the budget or taxing internal resources. Fortunately, the Data and Analytics services market in Latin America is steadily growing and enabling the application of Big Data solutions for all business models and industries, especially those geographically close.
About PSL: PSL has led Latin america´s foray into software engineering best-practices for software outsourcing. Today, we specialize in partnering with US companies large and small to solve their software engineering needs.