Big Data’s Problematic Background

We currently live in a digital world, also known as the information age, and rightly so. With the internet being information’s main power source and genesis, the world is encumbered by an increasingly content saturated environment. Regardless, the internet has revolutionized our operations as a whole.

For the sake of viability and survival, businesses have now integrated digital tools and strategies. These digital tools and strategies are specifically aimed at attracting, engaging and ultimately securing a loyal customer; in other words, digital tools in the form of data are used in the conversion of potential customers into loyal ones.

However, as previously mentioned, we are currently living in a content-saturated world. Data is constantly increasing at a rate that has managed to blur the lines between critical and trivial data. According to Shelby Blitz, a Content Marketing Manager and Tech expert, the data universe doubles within a span of two years.

More specifically, at least 2.3 trillion gigabytes of data are created every single day in the data industry. This has only complicated the data industry, making it difficult for businesses to market their products and services effectively.

Without helpful and useful data, how can one craft and create content that will capture and secure customers? Without the data the business needs, they lack a competitive edge. Hence, they end up operating on a day to day basis on merely the fumes of already existing data. This is not an effective business strategy.

This problem has of course seen the emergence of the need for data analysts. Additionally, it has caused businesses to turn to different avenues in a bid to effectively use and interpret big data; avenues that only end up costing the company's a tremendous amount of money and other invaluable resources.

Enter DataBlockChain. It is clear that there is a massive gap in the data industry that needs to be met. Otherwise, most businesses stand the risk to lose their already existing customer base and struggle to effectively attract new custom. However, before we can effectively explore the solution to said problem, let us first start by defining big data.

Big Data Defined

Big data can basically be defined as a large amount of data that is difficult and complex to interpret and use. According to Rose Board, a voice and Search Enabled Business Analytics Platform, big data is characterized by three main things: speed, high volume, and complex information.

Let us outline a few different types of big data problems in further detail.

Inaccurate Data

Inaccurate data is undoubtedly the biggest data problem that data industry is facing right now. If you have inaccurate data, then operating your business will be difficult in any effective manner whatsoever.

It will be hard to gather accurate customer data that may help you meet their needs. In turn, you will be unable to convert potential customers into loyal ones. Moreover, you will find it increasingly difficult to retain current customers.

Data Silos

Data Silos are the enemy of sourcing accurate and useful data. They store the useful information that has been gathered, in separate components. Essentially, the data is cut-off from the outside and is stored in a fixed state, often under the control of a central entity. This makes it hard to gather insights from the data, and can make using the data effectively for the growth of your business difficult.

The good news is that there is a solution to the numerous problems inherent with the current big data environment. This is where DataBlockChain are looking to disrupt, and aim to solve these problems effectively. By creating an effective and innovative interface, they aim to gather quality data for businesses.

Below are a few ways in which DataBlockChain hope to do this:
• Integration of data: this should help eliminate data silos and inaccurate data
• Effective data analysis
• Cleaning and maintenance of data

DataBlockChain’s solution is much needed, then, in the problematic big data space. Our next DataBlockChian in Spotlight article will reveal the technologies being utilized by DataBlockChain to deliver their game changing vision.

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Disclaimer: this is not financial advice, just my personal opinion and findings based upon research.