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 because of: (Source)
80% of the worldwide data that will be generated by 2025 will be unstructured because of:
- Heterogeneous Sources: Due to data from multiple sources being pushed into a centralized data repository (Data Lake / Data Warehouse)
- Data Quality: Multiple file formats & types
- Thirdly, Governance & Auditability: Increased data management costs and Lack of business insights & analytics
Big data challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating, information privacy & data source. In addition, big data was originally associated with three key concepts: volume, variety, and velocity. When we handle big data, we may not sample. As a result, we simply observe and track what happens. For instance, big data often includes data with sizes that exceed the capacity of traditional usual software to process within an acceptable time & value.
How HEXANIKA leverages Big Data
In our data-centric world, HEXANIKA’s data platform and solutions leverage Big Data technology to work on the
4 specific V’s of Big Data, which are: