Technology has evolved over the years to the point that it is now a part of everyone’s life. Not only is it influencing how society shops and consumes entertainment, but it also impacts how business is done.
Among other technologies businesses use, data graphs like Neo4j is a new technology that takes advantage of mathematical graph theory and establishes relationships between data sets to facilitate better decision-making. Neo4j is one such platform being used around the world. Neo4j pricing varies based on different factors; the prices are set as per the type of services you require, ranging from $312 to $350 per hour.
The individual data points highlighted through graph technology are known as nodes, and the mathematical computations are quite complex.
These data sets and relationships help gain insight into the aspects of various data points. For instance, if you take a look at your customer’s database with graph technology, then you will be able to define complex relationships such as how many customers visited the website through Google Ads, how many are repeat customers, what they bought, their level in the sales funnel, and chances of returning.
If you are wondering about implementing such software in your business, then you must be aware of the various features of graph technology.
Until a decade ago, machine learning or artificial intelligence was only available for big corporations. Now AI software is more accessible to everyone who uses it.
Artificial intelligence helps software developers use their learning to make applications such as chatbots, speech recognition, recommendation engines, and graphic recognition.
Since graph technology is assisted by artificial intelligence, it can help developers better the recommendation engines as they will have better insights into data relationships.
It Helps make Financial Transactions Secure
No matter where you are in the world and what device you use, you’re always susceptible to malicious attacks on the Internet. The risk of fraud is higher when you are engaged in online transactions, especially if the network is unsecured. With the help of this technology, losses through these frauds can be minimized.
Organize Access Better
Graph technology can help organizations structure their data for better management in many cases. They can take advantage of the relationships established by software to provide access to an organization’s data according to its company hierarchy.
In addition, it can be linked to employee key cards to limit their access to certain office areas.
Boosts Supply Chain Management
The number one problem faced by any organization has to be scalability. When a company wants to scale its business, it can be challenging for them to manage its supply chain.
With the onset of globalization, a company’s biggest challenge has become even bigger. Graph technology can help an organization recognize the gaps in their supply chain and enable the organization to make the required changes in their management to adapt to the new business scale. By using such technologies and software, organizations can improve the efficiency of their supply chain.
Adopting this technology in your business can make your business scale up in the market and enjoy seamless operations. So, if you are interested, you can inquire about Neo4j pricing. You can also get in touch with a reputable consulting company to help you start installing software in your business.