E-Business
How Cloud Computing Can Drive the Big Data Revolution
The world is generating more data than ever before. It’s also capturing more of that data than it has in the past. From digital packets running through global networks to information that’s processed by smart devices on the edge of IoT setups, there’s plenty of material being churned out daily.
A report from the year 2019 estimates that about 2.5 quintillion bytes of data are created every day. This number will continue to grow, as IoT becomes commonplace and we increase our dependence on digital technology.
For most people, these figures are mere statistics. But for many organizations, they represent a vast treasure throve that they can leverage to gain unusual insights into their customers, target markets, and industries.
That’s why big data has become a thing.
What is Big Data?
The term big data refers to large amounts of data that companies receive from their various interaction points—client information, customer service, transactions, market prices, engagement on the web and social media platforms, etc.
‘Big data’ could also apply to the large amount of data that is generated by sensors on an oil rig or by smart machines at a factory site.
Companies can gather these sorts of data, analyze them, and see the trends in the crucial variables. This gives them a picture of what’s going on in various aspects of their operations and lets them make intelligent decisions based on that picture.
For instance, let’s say you have access to data on the thousands of sales made by an ecommerce store within a year. You also have information like the days, time of the day, and months in which these sales have been made.
You could analyze this data and find out things like the times of the day, days of the week, and months of the year in which sales were highest and lowest. It may also be possible to tell how these trends change over time.
These details let you know the peak purchase times. Based on this insight, you can allocate resources away from the less active periods and towards the times with higher traffic. Ultimately, you’ll be able to maximize your sales and returns from those periods.
The more dense and complex the data sets are, the more sophisticated the tools you will need to analyze the data. Besides this, you should also possess certain skills if you’re going to work on large volumes of data.
How Cloud Computing Can Help
In the old days, you could store all your data on your premises—because you weren’t generating a whole lot of it anyway. But today, you’re creating and storing more data, and you can’t hold everything at your site anymore.
This is where the cloud comes in. Instead of trying to expand your physical data centers or procure more storage devices, why not just host all that data on a cloud platform?
Any solution that enables big data computing and analysis must cater to the 5Vs of big data:
- Volume: The large amounts of data you’re dealing with
- Variety: The assorted types of data available
- Velocity: Rate at which data is collected and analyzed in your system
- Value: The importance you attach to the data based on the information that it conveys
- Veracity: Establishing the quality and credibility of data
A solid, robust cloud platform takes care of all these needs.
Here’s how.
- Scalability
We dropped a hint on this earlier in the article.
The cloud is scalable; you can get your capacity jacked up at short notice. All that’s required is that you pay for the extra compute space. And there’s an almost infinite room you can expand into. You can also scale down if you’re past peak usage, and don’t need a lot of capacity anymore.
It’s something you want to have when you’re dealing with vast amounts of data. It lets you maintain a high level of efficiency over time, regardless of the varying volumes of data you have to deal with at every moment.
- Lower Costs
Many companies are wary of the large costs associated with big data analytics. But thanks to cloud computing, they have more leeway as far as costs are concerned.
The scalability of the cloud—and the subscription model that cloud service providers use –means that organizations only need to spend on what they’ll use. They can raise compute powers to take care of a spike in the volume of data they analyze and pay just the commensurate fees.
That’s better for your budget than purchasing storage capacity upfront, only to find that it’s either too small or too much.
- Infrastructure that’s Easy to Manage
Instead of devoting large sums to CAPEX for big data storage, you can house your data on third party infrastructure owned by cloud service providers (Infrastructure as a Service, or IaaS).
You don’t have to worry about maintaining infrastructure either; the managed service provider will handle this. If it’s a competent firm, they will have experts who can fix any problems that may arise.
What you do have to watch over is the cloud environment within which you work. Thankfully, some tools can help you strengthen the visibility of your cloud and simplify the management process for you.
- Virtualization
Virtualization is something that the cloud allows you to achieve. It involves creating virtual machines, operating systems, and servers, which can run on existing hardware. This lets you increase your data processing capacity without expanding your physical infrastructure. And that’s a boon for your big data aspirations.
Another benefit of virtualization is disaster recovery. You could lose a lot of data in the event of a major disruption to your networks. Virtualization allows you to retain virtual copies of that data, so you can carry on with them even if the original forms are lost.
- Frees Up Resources for Innovation
Imagine working on large amounts of valuable data for just a fraction of the cost. Also, imagine having more time to do this because you don’t have to worry about cloud infrastructure. These are gains you’ll derive from cloud computing.
These gains open up even more opportunities when they combine. For instance, your team will have more time and resources to be creative with their data analytics. They can find more patterns, design more solutions, and make better decisions based on their analysis.
Find a Cloud Solutions Provider that Supports Your Big Data Aspirations
Big data analytics is becoming a firm part of the decision making process for organizations. As your company moves in this direction, you’ll want a solution that takes the burden of managing extra infrastructure off your back.
Layer3 gives you this and more. For many years, we have provided businesses and government agencies in Nigeria with services that help them make the most of their data. From virtual data centers to disaster recovery, our products are tailored to scale up your computing capacity and keep you operating at the highest levels of efficiency.
If you would like to discuss your big data plans with experts who can support them, reach out to us here and we’ll take on your concerns.
Sundiata Post Media Limited, a multimedia news platform, has launched Dealboku, its e-commerce platform.
In a statement, Max Amuchie, founder/CEO of Sundiata Post Media, said Dealboku is an idea whose “time has come”.
Amuchie said Dealboku is different from other conventional online shops where goods are sold at shelf prices, as its e-commerce platform is an online deals marketplace where merchants are made to sell same products and offer same services at a discounted price.
“We have built a robust platform that is unique in its approach to e-commerce. Both buyers and sellers are assured of excellent customer care and quality products and services at discounted prices,” he said.
According to him, “with the establishment of Dealboku, Sundiata Post has made history as the first media platform in Nigeria to go into the full e-commerce business”.
In her remarks, Hannah Atomode, Dealboku’s project consultant, said the goal of the platform is to help customers get good discounted deals to their doorsteps.
“The team has been working very hard to build a beautiful and user-friendly website. This is a platform that comprises various products and services from fashion, automobile, furniture, foods, beauty, food, Spa and wellness, hotels, online training etc,” she said.
“The payment system is not cumbersome, it is so simple and easy to use.”
Atomode added that the e-commerce platform offers three payment options, which are card payment, wallet or bank transfer.
AtaraPay, an online escrow service has reiterated its commitment toward redefining and enhancing cash on delivery service in Nigeria in a way that promotes trust, transparency and protects the interest of both parties.
Yemi Adebiyi, Executive Director of TrustPay Technologies Limited, made this known in a statement in Lagos, where he said the emergence of e-commerce in Nigeria has changed the way Nigerians buy and sell goods.
He said that although bias and skepticism against online shopping persist, over time more consumers have begun to embrace the concept of purchasing items online and getting them delivered at their doorstep.
He said: “The advent of the COVID-19 pandemic has also made it imperative for sellers to diversify their sales channel to include an online, omnichannel strategy.”
He noted that, however, over time increased cases of internet fraud, frequent internet payment transaction failures only served to worsen the perception of customers paying online without physically inspecting the goods.
Adebiyi pointed out that as a workaround, cash-on-delivery options quickly became a popular choice with customers who preferred to double-check items in hand before paying in cash. This served as an approach to address the trust deficit and guarantee quality assurance.
He said that the introduction of escrow service by African start-ups such as AtaraPay, Paylock, Truzo has come in handy in addressing the issue of trust between buyers and sellers in a way that promotes transparency and protects the interest of both parties.
Adebiyi explained that AtaraPay’s business relationship with Consolidated Hallmark Insurance Plc enables it to provide a service that can be trusted and reliable enough to take away the monetary bottlenecks and resolve every crisis during transactions.
“This is a safe way to strike an equilibrium between customer and merchant credibility while eliminating fraud in the process,” he added.
Konga, composite eCommerce giant has revived YUBOSS, a stellar reseller scheme now re-christened as Konga Affiliate through which it is offering millions of smart unemployed and under-employed Nigerians an opportunity to earn unlimited income and ultimately achieve economic freedom by partnering with the company.
Equally important, the Konga Affiliate programme which grants successful applicants instant sign-up at affiliate.konga.com offers a comprehensive partnership to affiliates.
Built upon the very popular YUBOSS scheme which the company floated under Yudala, the central idea behind the revamped Konga Affiliate programme is Konga’s burning ambition to reach the unreached and under-served Nigerians in the hinterlands and other parts of the country through the affiliates whom it has identified as critical partners in this initiative.
This is in addition to the desire to reach more of the growing band of savvy, quality-minded Nigerians in search of a reliable channel for their purchases.
Specifically, the programme affords affiliates who sign up a chance to earn unrestricted income through mouth-watering commissions on every successful sale of products on the Konga platform.
Most importantly, hardworking and successful affiliates can grow through the ranks to ultimately become the owner of a Konga franchise store.
Further setting apart the Konga Affiliate programme is the immense benefits it offers affiliates.
These include access to Konga’s world class assets including its global supply chain, massive warehousing facilities for bulk deals, swift delivery of orders through Kxpress, its in-house logistics company which boasts advanced delivery capabilities, digital payments through KongaPay, a Central Bank of Nigeria-licensed e-wallet as well as round-the-clock customer service support.
Affiliates can also enjoy access to credit facilities and training resources, mentorship opportunities with renowned entrepreneurs and global business leaders as well as sponsorship of mega deals and contracts.
In addition, the programme which has a structured progression path has been touted as a useful way out of the current harsh economic crunch and rising unemployment which has hindered the ambitions of millions of smart Nigerians in search of opportunities to make an honest living.
The dire situation is further compounded by the rampaging COVID-19 pandemic which has hobbled businesses the world over and in Nigeria.
Prince Nnamdi Ekeh, co-chief executive officer, Konga Group, says the company is looking for hardworking, determined Nigerians it can empower and invest in to create wealth through the programme.
‘‘The Konga Affiliate programme which we have relaunched online at affiliate.konga.com is one of the strategies we are deploying in providing creative employment opportunities for millions of Nigerian youths.
“Our target remains the unemployed and under-employed. In fact, we are looking for partners that we can invest in through the programme.
‘‘As it stands, one of our ambitions at Konga is to ensure we reach more of the unreached and under-served Nigerians in majority of the 774 local governments across Nigeria.
‘‘There is no doubt that unemployment is on the rise. However, the efforts of government in creating jobs cannot cater to the army of unemployed and under-employed which is rising by the day.
“Through the Konga Affiliate programme, we are giving many Nigerians a way out of their current difficult circumstances into ultimate economic freedom.
‘‘Our goal is to see each successful affiliate, in turn, become an employer of labour. This is one of the fastest ways of reducing the spiralling unemployment and under-employment rates in Nigeria and giving hope to many,’’ he concluded.
Intending affiliates can register for a chance to join the programme at affiliate.konga.com
Pay-as-You-Go not Applicable to Pay TV – FCCPC
Afrinvest Sees Fortunes in MTN, Airtel Stocks
StarTimes Hikes Subscription Prices, Introduces New Channels
Naira Weakens, Oil Slips, Stocks Flat
Labour Decries FIRS Takeover of Stamp Duty from NIPOST
Report Shows DStv Cheaper in Nigeria than other African Countries
Telecom Body Introduces New Global Guidelines to Protect Kids Online
Good News: Nigerians Create Unique Vaccine for Treatment of COVID-19
Infobip Launches Conversations – Contact Centre Solution for Connected Customer Experiences
Paraguay and Nigeria in no Hurry to Roll Out 5G
E-Financial3 days agoBuyer Beware: NSE Issues Caveat on 13 Companies
E-Business3 days agoKonga to Employ over 100,000 Nigerians through Konga Affiliate Project
- E-Financial2 days ago
Customers to Access up N3m in New UBA Credit Card, Flexible Repayment Plans
Telecom3 days agoNCC Moves to Replace Foreign Technologies, End Capital Flight
E-Financial3 days agoFIRS Extends Tax Debt Payments to August 31
E-Financial3 days agoBanks’ Customers Abandon 2.6m Accounts in 3 Months
News3 days agouLesson Education Introduces Junior Secondary School Library
News2 days agoNDDC Spent N1.5Bn on COVID-19 Palliative for Staff— MD
