Big Data is the set of technologies working with a big amount of structured and unstructured data. You can read more about Big Data services here: https://itsvit.com/services/big-data/. You can distinguish Big Data from other technologies by three V’s: Volume, Variety and Velocity.
Volume is about the number of information. Big Data analytics works with neural networks, Artificial Intelligence and Machine Learning. You need really a lot of different data to train the neural network appropriately. So, talking about Big Data we always talk about a lot of information.
Variety is about various kinds of information. Big Data analysis allows for making predictions based on different factors. For example, some Big Data systems can predict a number of customers in a cafe per day using information about the region, menu, day of the week and weather. So a big variety of data in the input gives accurate and reliable output.
Velocity means the speed of data processing. In Big Data analytics, information is processed real-time. In the previous example about a cafe, you need a prediction in the morning because it won’t be useful the next day or at night when the day ends. So, the faster the data is processed, the more efficient the whole system is.
These three V’s lead to one more V which is often forgotten – Value. Value is about expenses. Big Data analytics and processing are quite expensive processes. So, it is important to understand profitability at the start and calculate all the investments and profits.
What about Big Data for startups?
Well, it is a really hard question because, on the one hand, we have a great and efficient tool but on the other – using it efficiently requires huge investments. The distinguishing feature of startups is small investments and limited budget. So, it is very important to accomplish the business goals under budget. That’s why the Value may be the most important thing about Big Data for startups.
There is one huge Big Data advantage for startups. You can use predictive and prescriptive analytics in cloud infrastructure management from the start. Of course, it needs some investments but you can use seed fundings.
Let’s have a look at a viable strategy for startups.
The easiest way to create a product is to hire an experienced team. When we talk about a limited budget, you should choose a team very scrupulously. The good choice is to refer to the Managed Service Provider (MSP) and hire a dedicated team that has experience with the Big Data technologies.
An experienced dedicated team will help you make the Proof of Concept (PoC) and attract new investors. Thus, you’ll go to the next stage of startup development. Also, such a dedicated team can help you create an MVP – Minimum Viable Product. This is the first accomplished version of your product. You can present in your future investors and end-users. After that, you might widen the functionality of the product, attract new investors and users. Thus, you’ll have a win-win situation where you have the team, the product and investors.
How to find a reliable MSP?
Unfortunately, there are a lot of unscrupulous MSP companies that can spoil the project, and you need to choose meticulously. The very first thing is checking at multiple worldwide technology ratings like Clutch, for example. There you can find the information about the company, prices per hour and feedback from previous customers. It will be great if you can talk to some previous customers directly and ask about MSP’s work and results.
When you’ll find the contractor, pay attention to MSP’s behavior. The reliable MSP company will politely answer all your questions and offer the strategy and solutions. Also, they can show you successful cases. There is good practice when you have an interview with the key specialists. For example, it can be Senior developers, Team Lead and/or Project Manager.
Also, the experienced company knows a lot of open-source tools and can offer you cost-efficient solutions for your product. Thus, you’ll have a great partner with huge knowledge of Big Data.
Wrap up: so, do you need Big Data in the startup?
It totally depends on the project. If your idea needs Big Data technologies, you should use it from the start because further redesigning can be more expensive than accomplishing Big Data from the beginning.
The best way to implement Big Data in the startup is by referring to the MSP company. This will be a great and prosperous collaboration with an experienced partner that will bring you a ready project, new investments and satisfied users.