The challenges of managing and analysing big data have become a significant concern in information technology and the business world while embracing digital technologies and competing for degrees of innovation, and not in vain.

While many organisations are still debating whether they should enter the field, others are already making their way to building a successful big data strategy, and the results speak for themselves.

The challenges involved in data management are only growing: how to select and manage relevant data, how not to waste valuable resources working in the cloud, and what perceptual change developers will have to go through.

Problems and solutions in defining data

What are the three problems that automotive companies face, and what is the solution:

Work efficiently

The sheer volume of data stored and processed in the cloud, along with the endless storage capabilities of this tool, poses a significant challenge in creating a cost-effective development environment.

The solution: to avoid unnecessary spending, preliminary research and an in-depth examination of available tools and advanced technologies are needed, which can significantly lower costs.

Defining what is “interesting” data

One of the significant challenges in dealing with vast amounts of data is defining what is interesting data for the specific model that uses it.

Possible solution: various tools in the field of AI enable fast processing of diverse data on a large scale.

Focus only on what is relevant

Even after the filtering and the interesting cases to learn about have been selected, the remaining amounts of data are still enormous. As a result, the additional challenge is properly managing this data: how do we sample from it? How to conclude?

Solution: The infinite capacity of the cloud requires proper planning and accurate management of the data. Working with cloud data in a distributed way requires a good data architecture to query efficiently.

How does data management help me promote my business?

A study by Forbes magazine showed that 64% of executives strongly agree with the statement that data-based marketing provides a competitive advantage in deciding how to deal with other companies operating in the same field.

Studies show that marketing teams that regularly use data-based marketing are 57% more effective at generating a positive return on investment (ROI) in their work.

All these facts and figures point in the same direction: data-driven marketing is the way to break ahead and the key to increasing the number of satisfied and loyal customers of the company – now and in the future.