Big data refers to data sets that are difficult to be captured, processed and analysed using conventional tools and technologies within the necessary time to make them useful. The word BIG generally refers to particular volumes of data that start at 30-50 terabytes of information.
This data is captured from a host of modern technologies such as internet searches, smart phones, web logs, social networks, computers, vehicles, GPS devices and other modern machinery.
Traditionally this data was taken to a computer to be analysed however because there is so much data available today now multiple processors and servers are accessing specific parts of the data set (called Parallel Processing). This is a fundamental shift and permits scalability to allow numerous data sets to be evaluated simultaneously.
Why is Big Data important for your business?
If it is processed and managed effectively it allows companies to gain a thorough understanding of their customers. The underlying theme here is that organisations can harness the data and find answers that enable:
Product development and Optimised Offerings
Smarter business decisions
A perfect example of this would be sending tailored offerings to consumer smart phones while customers are in the right area to take advantage of those offers.
With all this information now at your fingertips using the likes of Google Analytics, a business can now make major shifts in direction very quickly and with a high level of certainty that they are making the right decision.
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