Today’s commercial landscape is heavily invested in the latest and greatest technology, because modern tech is capable of revolutionizing the business models and operations of companies. Where business tech is concerned, all roads lead back to data, because big data provides businesses mathematical proof of better business and marketing strategies. Taking full advantage of data requires you to not only implement the right technology, but also address the elephant in the room known as hackers. The big data economy makes businesses sitting ducks that hackers can exploit for profit. Here’s what you need to know to implement big data into your business.
The purpose of data in business is fairly straightforward. By understanding the company’s earnings and spendings, you can get a better idea of where changes need to be made in the business model to produce better results. Monetary transactions also entail a different kind of data, namely the personal and financial information of customers in cases such as e-commerce. Market research also provides data that businesses can use to get a feel for the customer base to whom they are selling a product or service. With all of this information coming in in large quantities from disparate sources, things can get messy in a hurry. One of the most important ways to keep data organized is to invest in network infrastructure. Your network will be the central hub for incoming and outgoing data, so it needs to be arranged with data organization in mind.
An essential part of the big data economy is the internet of things design philosophy. IoT devices are capable of connecting to wi-fi, as well as to each other and IoT apps. This allows businesses to create smart offices, and one of the greatest strengths of a smart office is the automation of administrative labor. For example, a smart cash register can automatically store records of monetary transactions, and that information can then be sorted into the appropriate dataset. By taking human effort out of the equation, you can minimize human error, keeping the data in question clean. The “cleanliness” of data is important when it comes time to process and eventually analyze that data, after all. Small mistakes can skew the final results of this process heavily, and that ripples out into strategies developed with that data in mind. Automating the data pipeline has another benefit for your company in the form of time saved and labor costs reduced.
Data processing and analysis are the final stretch of the data pipeline, but they can also be refined for better results. Data processing is handled by computers automatically, but thanks to the vast quantities of data that need to be processed, this is a time consuming and resource intensive task for even top-of-the-line computers. Enter: cloud computing. Essentially a type of networking, cloud computing has numerous additional benefits that can strengthen a business’s network immensely. One such characteristic of cloud computing is that it allows users to “borrow” processing power itself from a pool of computing resources made up of those of the overall network, and cloud computing service providers for private clouds throw some of their own resources into the pile. This allows a business network to effectively cooperate on a singular task, data processing in this case, to minimize the time cost and memory usage involved. This expedites data processing, decreasing the overall turnaround time of the data pipeline significantly.
Because hackers target businesses for their data, cybersecurity is also a major component of healthy data infrastructure. This is a problem on multiple fronts that each need their own protective measures. For starters, securing your network is a major priority, and there are many cybersecurity tools to help you do so, from multi-factor authentication to DDoS prevention software. On the other hand, your website and e-commerce app will need to be addressed on their own turf. The primary concern regarding company websites is encryption. Without encryption and decryption, intercepted data is effectively stolen, while encrypted data will be meaningless if it falls into the wrong hands. E-commerce apps often inherit the security flaws of the APIs used to create them, meaning that API security is a necessary means of identifying and fixing any problems.
Publish Date: August 29, 2021 5:16 PM