Big Data, Power Platform & Business Apps

Adapt. Now more than ever. 

Big Data 

What exactly is big data?

The definition of big data is data that contains greater variety, arriving in increasing volumes and with more velocity. (the three Vs)  Put simply, big data is larger, more complex data sets, especially from new data sources. These data sets are so voluminous that traditional data processing software just can’t manage them. But these massive volumes of data can be used to address business problems you wouldn’t have been able to tackle before.

Two more Vs have emerged over the past few years: value and veracity. Data has intrinsic value. But it’s of no use until that value is discovered. Equally important: How truthful is your data—and how much can you rely on it?

Today, big data has become capital. Think of some of the world’s biggest tech companies. A large part of the value they offer comes from their data, which they’re constantly analyzing to produce more efficiency and develop new products.

Recent technological breakthroughs have exponentially reduced the cost of data storage and compute, making it easier and less expensive to store more data than ever before. With an increased volume of big data now cheaper and more accessible, you can make more accurate and precise business decisions.

Finding value in big data isn’t only about analyzing it (which is a whole other benefit). It’s an entire discovery process that requires insightful analysts, business users, and executives who ask the right questions, recognize patterns, make informed assumptions, and predict behavior.

How MDS Can Help Your Big Data

Big data gives you new insights that open up new opportunities and business models. Getting started involves three key actions:

1.  Integrate. Big data brings together data from many disparate sources and applications. Traditional data integration mechanisms, such as extract, transform, and load (ETL) generally aren’t up to the task. It requires new strategies and technologies to analyze big data sets at terabyte, or even petabyte, scale. During integration, MDS can help you to bring in the data, process it, and make sure it’s formatted and available in a form that your business analysts can get started with or for us to analyze.

2.  Manage. Big data requires storage. Your storage solution can be in the cloud, on premises, or both. You can store your data in any form you want and bring your desired processing requirements and necessary process engines to those data sets on an on-demand basis. Many people choose their storage solution according to where their data is currently residing. The cloud is gradually gaining popularity because it supports your current compute requirements and enables you to spin up resources as needed. Let us evaluate your needs and provide guidance and services.

3.  Analyze. Your investment in big data pays off when you analyze and act on your data. Get new clarity with a visual analysis of your varied data sets. Explore the data further to make new discoveries. Share your findings with others. Build data models with machine learning and artificial intelligence. MDS can help you put your data to work.

Big Data Use Cases

Big data can help you address a range of business activities, from customer experience to analytics. Here are just a few.

Product development Companies like Netflix and Procter & Gamble use big data to anticipate customer demand. They build predictive models for new products and services by classifying key attributes of past and current products or services and modeling the relationship between those attributes and the commercial success of the offerings. In addition, P&G uses data and analytics from focus groups, social media, test markets, and early store rollouts to plan, produce, and launch new products.
Predictive maintenance Factors that can predict mechanical failures may be deeply buried in structured data, such as the year, make, and model of equipment, as well as in unstructured data that covers millions of log entries, sensor data, error messages, and engine temperature. By analyzing these indications of potential issues before the problems happen, organizations can deploy maintenance more cost effectively and maximize parts and equipment uptime.
Customer experience The race for customers is on. A clearer view of customer experience is more possible now than ever before. Big data enables you to gather data from social media, web visits, call logs, and other sources to improve the interaction experience and maximize the value delivered. Start delivering personalized offers, reduce customer churn, and handle issues proactively.
Fraud and compliance When it comes to security, it’s not just a few rogue hackers—you’re up against entire expert teams. Security landscapes and compliance requirements are constantly evolving. Big data helps you identify patterns in data that indicate fraud and aggregate large volumes of information to make regulatory reporting much faster.
Machine learning Machine learning is a hot topic right now. And data—specifically big data—is one of the reasons why. We are now able to teach machines instead of program them. The availability of big data to train machine learning models makes that possible.
Operational efficiency Operational efficiency may not always make the news, but it’s an area in which big data is having the most impact. With big data, you can analyze and assess production, customer feedback and returns, and other factors to reduce outages and anticipate future demands. Big data can also be used to improve decision-making in line with current market demand.
Drive innovation

Big data can help you innovate by studying interdependencies among humans, institutions, entities, and process and then determining new ways to use those insights. Use data insights to improve decisions about financial and planning considerations. Examine trends and what customers want to deliver new products and services. Implement dynamic pricing. There are endless possibilities.

Work together to meet challenges effectively with the Power Platform—analyze big data, build solutions, automate processes, and create virtual agents.

The Power Platform

The Power Platform is more than the sum of its parts. Connect all of the parts and build end-to-end business solutions.  Learn how your organization prospers when you empower employees to create solutions for themselves and others.

Power BI. Make informed, confident business decisions by putting data-driven insights into everyone’s hands.

Power Apps. Turn ideas into organizational solutions by enabling everyone to build custom apps that solve business challenges.

Power Automate. Boost business productivity to get more done by giving everyone the ability to automate organizational processes.

Power Virtual Agents. Easily build chatbots to engage conversationally with your customers and employees—no coding required.

Gain a competitive advantage by linking all your data

Connect to hundreds of data sources using a library of connectors and Dataverse—bringing your data together for a single source of truth while you uncover insights as well as customize and extend existing product capabilities.

 

Contact us today to discuss how we can help with your big data and business application needs!