"BIG DATA IS AT THE FOUNDATION OF ALL THE MEGATRENDS THAT ARE HAPPENING." CHRIS LYNCH
As we continue to transition to a digitally advanced business world; the risk of cyberattacks has increased dramatically. Several organizations have now fallen victim to the wrath of cyber-attacks, with no trace of returning left! Research suggests that the rapid digitization will amplify the cost of data breaches to $10 trillion by 2025.
The cause of such a massive increase is the lack of data security, which will cause substantial financial losses to various organizations worldwide. With big data being a rising force in today's digitally advanced world, the margin for error is almost negligible. However, most people don't know that big data analytics can be crucial to ensure cyber resilience! Let's educate ourselves!
Big Data Analytics is a method to evaluate large bulks of data to unearth correlations, hidden patterns, and several other insights. It's quite possible to analyze data and uncover answers almost immediately in today's digitally enhanced world. On the other hand, it takes time and additional efforts to produce the same kind of results through traditional Business Intelligence Procedures.
Another notable benefit about big data analytics is that you evaluate data from all kinds of sources. The number of opportunities is unlimited, from social media platforms and web server logs to internet clickstream data. Another point to note is that there are 2.5 Quintillion data is produced everyday which is expanding the big data pool every ounce of data is useful.
Remember, you're trying to make informed decisions using data to analyze market trends, consumer preferences, important hidden patterns, etc. Furthermore, you can also use data for elements like statistical algorithms, predictive models, AI, and so on. On the other hand, there are several other benefits of using big data analytics, such as cybersecurity.
Irrespective of what your business has to offer to the world, your data should always be your most safeguarded asset. Several organizations fail to sustain their businesses in the long-run, with never-ending security threats surrounding their data reservoir. Now, with organizations aligning their business operations with big data, cybersecurity threats may increase significantly.
On the contrary, it's the opposite! In other words, analysts have the tools and expertise to monitor all kinds of data and spot any irregularities present. If they identify any potential threats within the data, it becomes easier for them to counteract those concerns before they occur. In fact, research suggests that more than 80% of businesses use the concepts of Big Data to stop attacks in their tracks and witness a massive decrease in cyberattacks.
Another study conducted with the U.S. government showed that 84% of the respondents use Big Data to prevent cyberattacks. By performing in-depth analysis and developing a data standard, enterprises can quickly find deviation within data to minimize data breaches. Another important benefit is that this practice will improve overtime; they can identify those invariances that were hard to spot beforehand.
One important thing to note is that controlling technology is not a walk in the park. The challenges and obstacles lying behind digital innovation are quickly on the rise. However, when there's a will, there's a way! In technology, an opportunity lies behind every door! So, it's up to us on how we can capitalize on them!
Such is the case with big data analytics! Big Data Analytics has been a stand out performer in today's technological era. However, storing a sheer bulk of data is not only difficult but also quite expensive to handle. Luckily for us, cloud storage systems have been introduced to make storage easy-to-use and cheaper.
Additionally, the concept of machine learning is also streamlining analytics procedures by detecting threats more efficiently than humans! So, things are happening for the better! It's up to us how we can capitalize on them!
We conclude our discussion with an endnote that big data analysis has been quite effective against data breaches and cyberattacks. Undeniably, a potent tool against all kinds of breaches, Big Data analytics will become more efficient when paired with other technologies like cloud, IoT, etc. Remember, the future is only bright if we're ready to become part of it!
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