The Global business environment is constantly evolving from the point of investment till retail to end-user. In this contest, the only businesses getting a competitive edge are those who value complex and large buckets of data.
The companies possessing large volume of data tracks would comparatively be superior in gaining potential opportunities by seeing the sights and get successful implementation, says the founder of the Energy Management Startup.
According to Darrel Zhang, the co-founder of "Intraix" at Singapore, Big data can enhance the market value of the company towards the next level. However, it will perhaps depend on how the companies are using their big database system.”
He has recently shared his personal thoughts regarding big data at an innovative forum held in Brunei. He said, “Major companies like Facebook is hugely reliant on big data for predictive analysis and read the psyche of the customers through this method.” This is the only example that can portray the importance of big data in front of businesses for catching the successful mode.
Through this, it is also likely to mechanize the energy controls to take best out of it. For instance, air conditioners can ideally tune the room’s temperature by detecting through sensors as directed by the range of people. It means that the better optimizing the data, the better facilitates the people to get what they want. He further added that better understanding of the date science is the key to utilizing Big Data mechanism.
However, the ethical and authentic use of ‘Big data’ is the crucial concern, and the users should know the value that they are retrieving, says the business representative of United Kingdom. Hence, the users would not mind for giving access to data as long as they are getting back something in return.
Carolina plumb, Co-Founder of FreshMinds consultancy firm stated, the entities should work under broad-spectrum for accumulating the data in place of personal information to work on privacy issues. In point of fact, humans believe in pool resources because people are “collaborative in nature.”