Big data. While the term is thrown around a lot these days, the gist of the term is uncertain, often meaning different things to different people. In an MIT Technology Review article entitled, The Big Data Conundrum: How to Define It? the authors suggest, “there is unanimous agreement that big data is revolutionizing commerce in the 21st century. When it comes to business, big data offers unprecedented insight, improved decision-making, and untapped sources of profit.”
Big data is defined as “an all-encompassing term for any collection of data sets so large and complex that it becomes difficult to process using on-hand data management tools or traditional data processing applications… The challenges of working with big data include capture, curation, storage, search, sharing, transfer, analysis and visualization; while the benefits include allowing correlations to be found to spot business trends, prevent diseases, combat crime, etc.”
Clearly, big data offers myriad avenues for problem solving and expansion, while giving those involved the competitive advantage needed in today’s ever tougher marketplace. Hallmarks of big data-related projects include:
· Size: If you don’t have a petabyte of data, it doesn’t fit.
· Data: Real time answers, and often requiring hours or days to calculate.
· Investment: Often thousands of dollars are required to use these kinds of technologies.
But big data can also create problems when companies aren’t sure how to articulate exactly what they want, have trouble analyzing the information and putting it all together. Most small to mid-size organizations aren’t actually big data kinds of companies. The organizations that produce big data are very big companies or agencies. Creating data is just part of what they do, and they have massive amounts of web users that produce that information. They’re tracking volumes of information, and they use specialized equipment to create a new stream of data on an ongoing basis. Real time answers are critical to their success, and data sets are complicated. In addition, these companies have the capital to support big data projects.
Whether you think you’re in for a big data project or you’re just looking at something a bit smaller, we can help. Contact us today to learn more about how we can help you do more with your business, no matter how big it is.
Many companies now look to custom software development as the ideal solution for organization and management. Some, however, avoid it completely, favoring off-the-shelf solutions instead. While the reality is that any company can utilize custom software development, Phoenix is full of industries that should ALWAYS consider it over any other solution for a variety of reasons. Here are the top three:
Financial Services
The world of finance is very different from any other industry today. Not only is understanding the data and math behind complex processes like securities valuations, risk and trading a must, there are also myriad compliance issues to consider. From portfolio managers to the traders themselves, those in the industry know that sacrifices in functionality can mean lost profits, and that’s not a choice you want to be up against. Custom software development here is a must. Because financial services companies are all different and they have a niche environment in which they must work, challenges abound, and only the right program can meet those.
Healthcare
Patient care, insurance, HIPAA security, regulation, certification, billing and coding – the list of concerns when you’re dealing with any healthcare organizations is vast. While the list of vendors selling one-size-fits-all software programs is lengthy, for most healthcare entities, cookie-cutter software simply won’t make the grade. Each healthcare organization has its own angle, its own concerns, its own budgets, and choosing a software project that means meeting every aspect of an organizations needs is a necessity. You need a team that has expertise with medical software projects and knows enough about health interoperability standards to create the right solution to meet your needs.
Logistics
Business is about being at the right place at the right time, and in the logistics business, you understand that you need a software solution that will allow you to process and move as quickly as possible. In an industry where the margins are slim, a half-second delay caused by software not specifically designed to suit your needs is either going to cost you time, money, or a customer. The only way is to go with something that has been specifically optimized to meet your exact needs.
Even if your industry is not listed here, there’s a strong possibility that off-the-shelf software won’t address all your company’s needs. In the long run, customized software development is always going to be the only way to move forward for your company. Off-the-shelf software is developed to appeal to the mass markets of your specific industry. By using off-the-shelf software you disregard the fact that the needs and potential of your business are as unique as the business itself and locks you into using the same technology as your competitors.
Kinetik I.T. has vast experience in developing unique custom software applications for all types of industries. Whether your business simply needs a current application enhanced or you need us to develop a complete solution from the ground up to fit your business, contact us and we will show you how we can make a difference in your organization.