What is Big Data?



Big data is the one of the most discussed topic today. Many industries such as Healthcare, Banking, Manufacturing and IT focus on what big data is, why it is important, and the benefits of analyzing it (Su, no date).

More and more data is being generated every day. With the advent of big data and the Internet of Things (IoT), volumes of customer-related data continue to increase. Websites, applications, mobile phones, e-mails, social media, personal assistants, sensors, are the tools most frequently used by companies in order to communicate and collect customer information.

The main characteristics of Big Data are (Rai, 2019):
  • Variety refers to structured, unstructured, and semi-structured data that is collected from multiple sources like emails, photos, audios, and posts.
  • Velocity refers to the speed at which dada is being created in real-time.
  • Volume data that is being collected from different sources like social media platforms, human interactions, networks, business processes.

Big Data is heavily used and is seen as the one of the most important part of predictive analysis. Analytics tools fuelled with Big Data can predict outcomes which help businesses and organizations to make better decisions, derive enhanced insight, optimize operations efficiencies and reduce risks (Guru, no date).

Businesses around the world utilize their digital marketing strategies to increase the customer experience which can help to improve their products and services. Companies can always stay a step ahead of their competitors, what kind of promotions and offers they provide. Big Data insights derived from social media and analytics platforms can help to come up with better offers for customers. Moreover, it allows companies to learn customer behavior to understand the customer trends and provide the experience to them.

Big data is an opportunity for businesses to be more thorough in the way they analyze and understand the world.

References:

Xiaomeng Su, (no date) “Introduction to Big Data”. Available at https://www.ntnu.no/iie/fag/big/lessons/lesson2.pdf (Accessed: 22 January 2020).

Guru 99, (no date) “Introduction to Big Data: What is, Types, Characteristics & Example”. Available at https://www.guru99.com/what-is-big-data.html (Accessed: 23 January 2020).

Abhinal Rai, (2019) “What is Big Data – Characteristics, Types, Benefits & Examples”. Available at https://www.upgrad.com/blog/what-is-big-data-types-characteristics-benefits-and-examples/. (Accessed: 23 January 2020).





Comments

  1. prudence2427 January 2020 at 04:24

    Quite informative.

    ReplyDelete
    Replies
    1. Svetlana24 February 2020 at 07:52

      Thanks! Glad you liked this article and found it informative.

      Delete
  2. thisthatandeverything28 January 2020 at 05:16

    This seems to be very interesting.

    ReplyDelete
    Replies
    1. Svetlana24 February 2020 at 07:57

      Many thanks! Indeed, this topic is becoming more and more important and interesting in every type of industry nowadays.

      Delete
  3. Martina29 January 2020 at 16:07

    What an interesting article! Big data has definitely transformed businesses of all sectors and I agree with what you said about organisations now making informed decisions and providing better experiences to customers.

    ReplyDelete
    Replies
    1. Svetlana24 February 2020 at 08:06

      Thanks a lot! That's true - creating great customer experience and increasing customer satisfaction is one of the main goals for organisations.

      Delete
  4. Nadia Bocharskaia29 January 2020 at 17:18

    Very interesting, thstha for the article

    ReplyDelete
    Replies
    1. Svetlana24 February 2020 at 08:10

      Thank you for your comment. I'm happy you liked it and found interesting.

      Delete
  5. (ADI)GIT_blog3 February 2020 at 06:06

    Great article with a lot of useful information. Thanks for sharing

    ReplyDelete
  6. IselaTorres7 February 2020 at 04:35

    Very good article, love it!

    ReplyDelete
  7. Colin Almeida18 February 2020 at 10:39

    Very well written and informative.

    ReplyDelete
    Replies
    1. Svetlana24 February 2020 at 13:19

      Thank you very much for your feedback! It is very valuable.

      Delete
  8. Oksana Shevchuk24 February 2020 at 12:24

    Great explanation of Big Data and its characteristics! Some good examples too.

    ReplyDelete
  9. Sergey24 February 2020 at 14:37

    Great stuff! Thank you!

    ReplyDelete

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