Why Businesses are turning Towards Cognitive Cloud Computing Technology?
Cognitive cloud computing is relatedly a better option than the traditional means of data interpretation. Cloud computing is adopted by several businesses as this technology as the potential to take the company forward.
What is a Cognitive Cloud Platform?
This platform has the ability to generate and connect applications related to cognitive computing with the masses. One of the startups called as Cognitive Scale is using the above stated concept through its open-standards and portable based cognitive cloud technology. The basic aim of this startup is to speed up the value of Big Data investments of the company. Apart from this, several cognitive applications are capable of running on cloud infrastructures such as Google Cloud, Amazon Web Services, and IBM Bluemix.
As per the market reports, according to a report published by Research Dive, the cognitive cloud computing market is predicted to generate revenue of $108,788.7 million by 2027.
Solutions designed by Cognitive Scale startup is used for analyzing, sourcing, and interpreting data and context signals. Patterns and insights are extracted from a variety of data sources that also includes dark data, while implementing sovereignty and security policies. Applications linked with cognitive cloud computing grasp natural language from which personalized insights are generated. These insights can be learnt with user interactions, as this makes cognitive cloud smarter every time they are utilized.
Here one must know that the concept of cognitive computing is novel to most of the companies and this has the potential to take many enterprises further. Cognitive computing is a better option than traditional analytics and business intelligence solutions. Such type of systems, are not capable for dealing with dark data that mainly includes electronic medical record notes, social media postings, and unstructured data like image, text, or electronic fitness device readings.
Cognitive Technology Extracts Immense Data
Organizations need not be afraid of the digital future as this technological transition from requires a cognitive-ready cloud platform.
The most obvious reason why any technology that is well programmed cannot handle data of today’s era is that it needs programmed logic and well organized information to function. Cognitive systems’ learning is continuous and systematic and at the same time handles varied and disparate data.
Cognitive technology is capable of understanding information such as the natural language, imagery, and sound of images, emails, books, tweets, blogs, journals, sentiments, and videos. Cognitive technology looks for meaning because then it can reason via data and subsequently present fresh contexts for consideration.
If cognitive technology is utilized in an optimal hybrid cloud environment then it can consistently escalate the insights that are produced against the data, while simultaneously expanding data. All the dark data can be analyzed easily and with a newfound flexibility and agility every organization improves at everything.
The data developed in the 1940s can’t handle the data of 2020
Cloud computing encourages startups to focus their slingshots at venerable business giants both outside and inside their industries. Startups have the potential to steal market share and also keep executives awake at night due to the digital freedom that they enjoy. These startups are free from traditional restrictions such as logistics and overhead. They prosper on app-based models of businesses that produce flexibility and aid them to make the most of their data.
No doubt that data drives business forward and research states that all of the data in the world constitutes 4.4 zetta bytes. In simple mathematical terms, 1 zetta byte is 10 raised to 21 bytes. The fact that almost 80% of data is unstructured should be a worry for all the organizations. Dark data consists of audio clips, texts, video, and social media posts, this data is meaningful for businesses as the information possesses insights on consumer behavior pattern.
Businesses cannot tap on dark data by utilizing traditional computing methods as these rely on architecture that was created in 1945 by a Princeton mathematician known as John von Neumann. While Von Neumann’s creation is used for decades, however it is unable to serve numerous technological necessities that organizations are facing today.
Impact of Covid-19 Crises on Cognitive Cloud Computing Market
The Covid-19 pandemic has affected the market in a positive way as natural language processing (NLP) technique is gaining significance in the pharmaceutical and healthcare sectors during the pandemic. This NLP technique is supporting all scientists and healthcare professionals for carrying out their duties in the Covid-19 outbreak.
Furthermore, the NLP technique helps clinicians to monitor patient population by picking up virus symptoms at real-time basis. Beyond this, this technique is considered as useful in treating diseases, thus enhancing the demand of NLP in the healthcare sector. All these aspects are creating growth and development of the market during the Covid-19 crises.
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