Today data is being generated in large quantities from every place imaginable – from smartphones to health bands, social activity, and even smart clothes. In 2020, every human being generated on average 1.7MB of data per second.
Due to the fact that cryptocurrencies and other real-world applications of blockchain technology are becoming more and more mainstream, the amount of transactional data stored within various ledgers becomes huge. Blockchain and big data analytics are two unlikely peas in a pod to address these concerns.
Big data is the hottest word in the world of enterprise technology today, allowing businesses all over the world to make use of ground-breaking insights in real time for better performance. The power of big data is such that governments, organizations and even small to medium-sized businesses can benefit from what big data offers.
Blockchain brings so much value that almost every industry has started questioning whether to integrate it into its processes or not. Most do not want to miss out on the next big thing, while many are still apprehensive when they hear words such as ‘decentralized’ and ‘open.’ From healthcare to banking to ride-sharing, blockchain is finding gradual acceptance.
When it comes to the growing interest in the intersection of big data and blockchain, it is the overall improvement of the data being captured and the quick transfer of said data which is causing quite a stir. Blockchains give businesses confidence in the integrity of the data being generated. Consensus-driven timestamping, proper audit trails, and immutable entries will all become better as blockchain starts becoming more mainstream.
Rapid advancements are being made on a daily basis when it comes to new blockchain technologies, ushering in new developments in the big data analytics field.
At the end of the day, content needs to be findable, and that happens with a strong, standards-based taxonomy. Data Harmony is Access Innovations’ artificial intelligence (AI) suite of tools that leverage explainable AI for efficient, innovative, and precise semantic discovery of new and emerging concepts, to help find the information you need when you need it.
Melody K. Smith
Sponsored by Access Innovations, the intelligence and the technology behind world-class explainable AI solutions.