The importance of Big Data: What, Why and How
Big data is a term that describe a huge volume of data, even if this data is not estructured, that fills everyday life of a company. Every digital action on internet generates it. Big data could be transmited by Systems, sensors and mobile devices and can be analysed for new ideas that lead your brand follow better business oportunities and established better strategic movements.
If you want to extract powerful value from big data you need analytics capabilities, processing skills and potent technological isues. Big data will become a core competence in digital business. It will discover new trends in Markets, innovation and consumer behaviour. Enterprise have captured a lot of information, and more information will be captured in the future thanks to multimedia files, social media, internet of things and UGC content. Leaders in every sector will have to struggle with the potential power of Big data analysis.
Why Is Big Data Important?
The importance of Big data and its following analysis do not revolve around the quantity of data we have on our data base, but what you do with this information. The focus of big data analysis is in untapped undiscovered data and help business decision making. Data scientist Works in predictive models and create new analytics careers to analyze widespread information. As a company with powerful analytics capability you can take data from any devices, issues or platform and find answer or question that help your brand identity and strategic decisions. Also When you merge big data with analytics, you can accomplish tasks such as:
- Discover causes of failures in real time.
- Generate sales campaigns based on customer behaviour.
- How to manage cost reductions actions.
- How to manage time reductions actions.
- Development of better products or optimized business units.
- Help you carry out clever decisions.
How BIG is Big Data?
2.7 Zetabytes (that’s 27 with 21 0s after it) of data exist in the digital universe today.
By 2020 analysts predict the amount of data will be 50x what it is today.
In 2012 90% of all the data that existed in our entire history had been created in the previous 2 years.
Every 2 days we create as much information as we did from the beginning of time up to 2003.
Before tell you what big data would do for your business, first It is prioritary to understand which are main sources where It comes from:
- Real time data: In this category includes data that reaches your systems from a web or connected devices.
- Social media data: Social interaction data is more and more powerful and useful data specially for Marketing.
- Other available sources: huge amounts of data are available for free on internet. Goverments, Organisations, etc..
Big data analytics
BD is a acurate problem in companies because It is necessary apropiate tools and procedures designed to analyze huge data bases. Big data requires high eficciency analytics tools to analyse large amount of data.