More than ever before, start-ups are threatening to disrupt the already revolutionized corporate industry. Several companies, many of which rely on online-generated information, are making grand entrances into the market. For entrepreneurs setting foot in such industries, nothing can prove more profitable than having a reliable database. It gives your business the unique opportunity of building and developing success stories based on information. With each passing day, database technology is gaining more and more traction. There is a growing need to harness, analyze, and retrieve certain data. For entrepreneurs with brilliant ideas on how to architect and utilize databases for the future, tomorrow can’t be any more promising.
Greater Investment in Leading Database Technologies
Unless you have buried yourself in huge volumes of old data for the past few years, you already know that more businesses are now committing more investments to fast-growing database technologies like NoSQL and Hadoop. Top-tier companies and middle-sized enterprises alike are pumping more and more money into these database technologies.
Based on a technology that uses distributed file systems to enable running of computing jobs on multiple servers, the use of Hadoop has increased significantly in the last couple of years. Businesses now have an opportunity to say it loud with this new-generation database technology. The surge is even greater on NoSQL, a system that offers scalable substitution to the traditional relational database systems. In the past year alone, venture funding for Hadoop companies rose by 50%. At this rate, you can expect even more.
Greater Market for Big Data
What has fuelled the recent interest and intensive investment in more reliable databases? For an entrepreneur who is still considering his options, it is worth asking this question. Until the early 2000’s, the big data market seemed dull and less commercialised. Databases were simply for references and backups. Many businesses did not consider it necessary to analyse and store some information sources. Take, for instance, log data and sensor data. Very few people thought useful insight could stem from such data. A couple of years down the line, companies are beating each other off in building databases and other software systems to harness and analyse such data. What has changed? An experienced dba consultant will admit to you that the average entrepreneur has learnt and now appreciate the importance of information.
A run for their money
Several other people have realised the importance of reliable databases, not just businesses. Today, many enterprising firms are finding their way into the already competitive database technology market. Take, for instance, Splice Machine. In the recent past, it has introduced new database designs suitable for solving every day emerging computing problems. This database is based on SQL usage, which is a common formula for query databases. If you are to have a closer look at their models, you won’t be wrong to say that they are giving dominant giants like Oracle a run for their money.
There is a tremendous shift in the IT industry and many innovators are sailing in to capitalise on this. According to Splice Machine, they are in the industry to provide solutions to businesses with a surging need for huge databases. However, that’s not all. They aim to enable businesses to run databases on more affordable commodity servers. Already, the velocity and volume of data streaming into many companies’ servers is more than what can be handled by the currently available relational database management systems.
Why Invest in Reliable Databases?
The fact that the database technology industry is getting more competitive can only mean one thing; it is bound to get even better. Besides the common players like Microsoft, IBM, and Oracle, many other service providers will step in to develop systems that offer better solutions to the ever-present computing systems. If past businesses have benefited from investment in databases before, there is much more to gain including but not limited to:
Advanced Planning of Marketing Campaigns
Already, businesses are taking advantage of big data from their databases to revolutionize their marketing strategies. With detailed information on customers, it is possible to segment them based on their interests. This goes a long way in targeting the right customers.
Enhanced Product Development
Thanks to latest-generation databases, it is now easier to collect more data on product reviews. With customers being more open and willing to share their experiences with products and services, nothing can prove better for businesses than harnessing such information and using it for product redevelopment. Businesses can therefore modify their products based on appropriate analysis of the concerns voiced by customers. Only reliable databases can guarantee easy access to such information.
For any business to succeed, it must strive to gain access to new markets with each passing day. However successful an enterprise is, it will not remain profitable unless it explores new markets. With a reliable database,getting the response of customers from various areas is easy. Based on the results, a company can easily decide whether to move into a new area or modify their product further before penetrating some markets. Today, in-memory databases help in collecting tones of data from different customers across various platforms.
Enhanced Communication to Customers
Staying in touch with customers is one effective way of promoting relations and enhancing the growth of brands. With customers’ information, you will be able to stay in touch through wishes, reminders, and routine promotions. Coupled with analysis tools, it is easier for an enterprise to establish what most of their consumers are browsing and their likes, thereby communicating to them on various platforms based on their needs. The result is effective communication strategies which if employed perfectly can result in extensive brand awareness. In the end, you will become more vocal about your enterprise.
Essential data generated from huge databases have the power to make bigger changes in the market. If used extensively alongside business analytics, entrepreneurs can expect to reap big from reliable databases. If you have never given the idea of investing in huge, reliable database a second thought, now is the time!