Is data soon going to be The Pivot Point of every business in the world?

In the era of real-time transition and transformation, data, analysis and Internet of Things (IoT) are playing their specific and precise roles. As data is the fueling force for every sector in the world today, countless corporates and individuals have become data pumping machines, contributing a generous amount of information in the universe each day. According to a research conducted byIBM Marketing Cloud Study; from data generating services to mobile device data, there has been a staggering 42% increase of data over the internet since 2014.

Data is not just limited to text these days. Images and videos are also a popular means of communication. Instagram and Snapchat are the perfect examples of this trend. Posting a photo and sharing it with the world is the new liking across the globe now.

A similar trend is being observed in other social networking platforms such as Facebook and Twitter. People put up their thoughts and stories which they want to share, and prefer to do so in a minimal number of words. Considering this specific human behavior, Twitter has deliberately limited the number of characters to 280 for a tweet. Similarly, we at Datalore Labs, aim to identify such scenarios in the business world using our expertise in ‘Artificial Intelligence’ and arrive at profitable solutions for our clients.

But, the real question that arises is; ‘Is all the data actually being used for analysis?’

Today, there is a plethora of industries, which are further subdivided into millions and trillions of smaller units, each releasing a wide range of data every day. However, only less than one percent of data is being used for making critical and operational decisions.  If merely less than 1% of actual data is useful, then what is the need of releasing a bucket load of data into the world? To answer this question, one needs to clearly understand the basic processes involved in generating, collecting and analyzing data.

In order to make strategic and operational decisions, a firm foundation of data is absolutely essential, wherein the information can be collected and analyzed for long-term decision making. To achieve this, companies are creating platforms that can inculcate a huge amount of data, process it according to the requirements of the industry, and then present the data in well-defined manner. At Datalore Labs, our technical experts extend constant guidance and support to our clients, helping them classify relevant data and come up with a strong data repository for their analytical requirements.

Now, let us have a look at the future predictions of the data realm

Data Explosion:

With the ever-growing industries, novel devices and the IoT, the volume of data is practically exploding by the day and will continue to do so in the future. Moreover, most of this data is in a highly unstructured form. Artificial intelligence plays a huge role in identifying the relevant pieces of information from the massive data repositories. Multiple machine learning algorithms can be implemented to tame the unstructured data for extracting meaningful information.

Scrutinizing The Data for Innovation:

Managing, simplifying and analyzing the data will aid in better understanding and hence better usage of the information. At Datalore Labs, we are skilled at precise data modifications and at developing highly efficient machine learning algorithms to arrive at innovative and profitable business solutions.

Eminent Data Analyst:

Beginning with a huge collection of unstructured data, developing efficient business strategies to arrive at competent profitable solutions is not an easy task. Data scientists require a cumulative knowledge of numerous tools and sub-disciplines like mathematics, statistics, machine learning, etc. and above all, the unique ability to put together all of their multi-disciplinary capabilities to best address the business question in hand. As every organization is looking to strengthen their analytics team with such skilled workforce, there is a huge demand for proficient data scientists. Recognizing this upcoming need, we at Datalore Labs conduct training in machine learning to help you gain the expertise necessary to become a competitive data scientist.

No industry can exist without data in today’s competitive world. With the integration of data and machine learning algorithms, we can unleash innovative solutions and unlock new doors for the future generations.