In a data-driven world, the amount of data being generated and stored by various industries is growing.
However, it is not the growing amount of data that is the issue for most enterprises. Institutions are facing data issues due to: (Source)
Unstructured data: 80% of the worldwide data that will
be generated by 2025 will be unstructured because of:
- Heterogenous Sources: due to Data from multiple sources being pushed into a centralized data repository (Data Lake / Data Warehouse)
- Data Quality: Multiple file formats and types
- Governance & Auditability: Increased data management costs and Lack of business insights and analytics
Big data challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating, information privacy and data source. Big data was originally associated with three key concepts: volume, variety, and velocity. When we handle big data, we may not sample but simply observe and track what happens. Therefore, big data often includes data with sizes that exceed the capacity of traditional usual software to process within an acceptable time and value.
How HEXANIKA leverages Big Data
In a data-centric world, HEXANIKA’s data platform and solutions leverage Big Data technology to work on the
specific V’s of Big Data which are: