In the current digital world, data is the key to competitiveness. With success of big data analytics, many companies got access to insights for effective decision-making and chart new business paths. But deep within, there are raw information generated during transaction, search engines, IoT, social media, etc., which could provide intelligent information about various stakeholders and market. This unstructured dark data constitute more than 80% of the overall digital data.
Dark data has immense potential to drive innovation and value to business. Every company that adopts to new evolving technology and new data, drives competitive advantage. Companies find it difficult to develop a strategy to derive value from dark data that can help in generating relevant insights and open greater opportunities. This in turn creates a demand for advanced analytics and consulting which would be more than ever expected.
CIOs look for distributed data architecture, machine learning, visualization, artificial intelligence, natural language processing, video analytics, in-memory processing, and analytics to identify patterns and derive insights. The business potential that can be generated by serving this demand which is through dark data analytics is huge enough to make itself a multibillion dollar business.
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Market trends affecting the technology
Current applications and potential use cases to consider
Technology adoption in various industries
Key concerns to address
Market opportunities for the players
Research Manager – Manoj Kumar
IndustryARC offers business intelligence solutions, market research reports and custom research services across 10 industry verticals at a global level.