Big data is a technology for analyzing and processing data sets that are constantly growing in the realities of the contemporary market. It turns out that Big Data is not only a competitive advantage, but also a vehicle for achieving sustainable development goals.
The world has become hyperconnected. Digital technologies, massive data flows, global networks have become part of a business and daily life. Companies and states must direct technologies towards social, economic, and sustainable development to harness their full potential for humanity.
Until now, the importance of applying technological concepts was significantly underestimated. By missing out on technology, leaders lose the ability to make the right management decisions that are strategically important for the development of their organizations and the global economy.
Big Data and Machine Analysis are one of the most powerful tools for achieving sustainable development goals. The correct application of Big Data can protect organizations, improve production efficiency, and reduce environmental impact, increase agricultural productivity, study migrant flows, and provide humanitarian aid where it is needed.
Big Data: The tool with high capabilities
Big data technologies are a whole range of different tools, approaches, and information methods that solve multiple global challenges.
The first is storing and managing massive amounts of information that cannot be used effectively using conventional databases.
The second task is to organize and combine this unstructured or partially structured information, recorded in a variety of formats.
The third challenge is to process and analyze the data received and to generate high-precision forecasts.
Big data processing technologies remain one of the fastest-growing segments of the IT market. According to the forecast of research and consulting company IDC
(International Data Corporation), its average annual growth rate of the Big Data market will exceed 12% during 2020-2025.
Big Data, Big Studies, Big Success
Besides, IDC notes that data volumes are increasing quickly in various industries ranging from mining to health care. Also, there is a growing number of companies that are moving to cloud-based public services
that use similar types of structuring and processing of information. It will simplify future mutual integration, data collection for global research, and tracking overall progress. The last significant change IDC has identified the growth of artificial intelligence and machine learning in data management and analytics software.
The use of Big Data, cloud services, and machine learning for companies in different sectors represent the competitive advantage they achieve by improving the products and services and significantly optimizing production
and business processes. Similar methods are valuable to obtain information on the state of the environment, human well-being, social and spatial changes in real-time and to focus efforts on time to support vulnerable groups or problem areas. Accurate, reliable, appropriate data must be available to track progress towards global economic, social, and environmental goals.
The Right Tools Now - The Right Decisions for The Future
Lack of proper tools is now the main obstacle to the use of Big Data for the SDGs
. Contemporary organizations accumulate massive amounts of data that require to be systemized and studied. Although, existing methods of information analysis and development can no longer cope with ever-updating and growing amounts of data. It ultimately advances the need to develop specialized data analytics tools. Big Data should be relevant structured information that brings about sustainable solutions for private companies and the global economy.
In line with current trends, FCE offers cloud-based solutions for businesses, government organizations, and NGOs. Tools using the latest advanced technologies
, IoT-sensor tracking systems, data flow analysis, and forecasting software. Instant transactions, remote verification and electronic signature
are part of interconnected FCE system that collects data, analyzes, and offers solutions for efficiency and optimization. Based on accurate, reliable, comprehensive data, it becomes accessible to understand the problems the company faces and find the most appropriate solutions.