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In the last few years, data breaches have become a much bigger problem than ever. According to a report by IBM, in 2022, the global average total cost of data breaches reached an all-time high at $4.35 million, representing a hike of 12.7% as compared to 2020.
Although predictive analytics has been around for some time now, with advancements in technology and the growing popularity of Big Data, more and more companies are making it a part of their overall business analytics strategy.
Moving to the cloud provides a variety of benefits to businesses, from agility to flexibility, and cost savings. Organizations can further reduce their costs by optimizing their cloud operations and boosting ROI.
According to a report by Harvard Business Review, on average, 47% of data records contain critical errors that hamper work. One of the key reasons behind this high percentage of inaccurate data is the lack of good data governance practices in place.
A Bot is an essential software application powered by AI that runs automated tasks to meet the customer’s expectations and increasing demands, ease of operations, and cost-optimization across industries and businesses. Today’s digitally empowered ecosystem is looking for a solution that exceeds the end user’s expectations and reduces error.
Big Data comprises various structured, semi-structured, and unstructured data from discrete sources, which can be in any format like text files, images, audio, etc. Most organizations collect data in an unstructured format, and hence the storage, retrieval, and analysis of these large volumes of data are not possible with traditional databases.