What Big Data Analytics Challenges Business Enterprises Face Today
In this digitalized world, we are producing a huge amount of data in every minute. The amount of data produced in every minute makes it challenging to store, manage, utilize, and analyze it. Even large business enterprises are struggling to find out the ways to make this huge amount of data useful. Today, the amount of data produced by large business enterprises is growing, as mentioned before, at a rate of 40 to 60% per year. Simply storing this huge amount of data is not going to be all that useful and this is the reason why organizations are looking at options like data lakes and big data analysis tools that can help them in handling big data to a great extent. Now, let’s take a quick look at some challenges faced in Big Data analysis:
1. Need For Synchronization Across Disparate Data Sources
As data sets are becoming bigger and more diverse, there is a big challenge to incorporate them into an analytical platform. If this is overlooked, it will create gaps and lead to wrong messages and insights.
2. Acute Shortage Of Professionals Who Understand Big Data Analysis
The analysis of data is important to make this voluminous amount of data being produced in every minute, useful. With the exponential rise of data, a huge demand for big data scientists and Big Data analysts has been created in the market. It is important for business organizations to hire a data scientist having skills that are varied as the job of a data scientist is multidisciplinary. Another major challenge faced by businesses is the shortage of professionals who understand Big Data analysis. There is a sharp shortage of data scientists in comparison to the massive amount of data being produced.
3. Getting Meaningful Insights Through The Use Of Big Data Analytics
It is imperative for business organizations to gain important insights from Big Data analytics, and also it is important that only the relevant department has access to this information. A big challenge faced by the companies in the Big Data analytics is mending this wide gap in an effective manner.
4. Getting Voluminous Data Into The Big Data Platform
It is hardly surprising that data is growing with every passing day. This simply indicates that business organizations need to handle a large amount of data on daily basis. The amount and variety of data available these days can overwhelm any data engineer and that is why it is considered vital to make data accessibility easy and convenient for brand owners and managers.
5. Uncertainty Of Data Management Landscape
With the rise of Big Data, new technologies and companies are being developed every day. However, a big challenge faced by the companies in the Big Data analytics is to find out which technology will be best suited to them without the introduction of new problems and potential risks.
6. Data Storage And Quality
Business organizations are growing at a rapid pace. With the tremendous growth of the companies and large business organizations, increases the amount of data produced. The storage of this massive amount of data is becoming a real challenge for everyone. Popular data storage options like data lakes/ warehouses are commonly used to gather and store large quantities of unstructured and structured data in its native format. The real problem arises when a data lakes/ warehouse try to combine unstructured and inconsistent data from diverse sources, it encounters errors. Missing data, inconsistent data, logic conflicts, and duplicates data all result in data quality challenges.
7. Security And Privacy Of Data
Once business enterprises discover how to use Big Data, it brings them a wide range of possibilities and opportunities. However, it also involves the potential risks associated with big data when it comes to the privacy and the security of the data. The Big Data tools used for analysis and storage utilizes the data disparate sources. This eventually leads to a high risk of exposure of the data, making it vulnerable. Thus, the rise of voluminous amount of data increases privacy and security concerns.
To overcome these Big Data challenges in the companies and large organizations, a corporate training program in Big Data should be organized by the business owners and managers.
