Businesses are increasingly adopting cloud computing solutions and the economic implications of cloud storage have become a significant topic of study. The research paper explores how organizations manage Big Data storage on cloud platforms and the inherent challenges and opportunities involved in achieving cost efficiency.
The paper provides a brief outline of foundational concepts covering primary cost components associated with traditional on-premises storage solutions. Subsequently, the paper examines how big data came to the forefront in the mid 2000’s and how cloud computing platforms can be leveraged to handle the exponential growth of complex and mega volumes of data in modern digital landscapes. This paper serves as a basis for a comparative evaluation of key challenges organizations face in managing big data and comprehensively examines economic benefits and factors associated with hosting big data in the cloud.
Ultimately, this research presents insights into the impact of the AI ecosystem on Bigdata management. The recent development and explosion of increasingly powerful AI technologies offer capabilities such as advanced analytics powered by ML, automation, and insights extraction. Foremost among these applications of AI are how these developments are helping the software industry currently and how it is capable of transforming the processing of big data generated worldwide.