Big Data: What is it and what is it used for? [INTRODUCTORY GUIDE]
Posted: Sun Dec 22, 2024 9:47 am
Big data
What is Big Data and what is it used for? In an increasingly competitive market, this is one of the questions that organizations must try to answer.
To answer this question straight to the point, Big Data is a process that analyses and interprets large volumes of data, both structured and unstructured. It allows companies to use remotely stored data as a basis for their decision-making.
The information extracted helps, for example, to improve strategies and processes, to increase the competitive power of the company and to better understand consumers, among many other applications.
Summary
Big Data is based on taiwan phone number lookup the “5 Vs”: Volume (quantity of data), Variety (diversity of data sources), Velocity (real-time analysis), Veracity (exclusion of false data) and Value (generation of valuable insights).
Four types of analysis can be performed with Big Data: predictive, prescriptive, descriptive and diagnostic, each with a specific purpose.
Practical examples of Big Data use cases include Nike, which uses wearables to improve customer experience, and UPS, which optimizes its delivery routes and saves costs with data analytics.
A Big Data professional is responsible for managing and analyzing data using tools and software to extract valuable knowledge that contributes to business growth.
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What is Big Data and what is it used for? In an increasingly competitive market, this is one of the questions that organizations must try to answer.
To answer this question straight to the point, Big Data is a process that analyses and interprets large volumes of data, both structured and unstructured. It allows companies to use remotely stored data as a basis for their decision-making.
The information extracted helps, for example, to improve strategies and processes, to increase the competitive power of the company and to better understand consumers, among many other applications.
Summary
Big Data is based on taiwan phone number lookup the “5 Vs”: Volume (quantity of data), Variety (diversity of data sources), Velocity (real-time analysis), Veracity (exclusion of false data) and Value (generation of valuable insights).
Four types of analysis can be performed with Big Data: predictive, prescriptive, descriptive and diagnostic, each with a specific purpose.
Practical examples of Big Data use cases include Nike, which uses wearables to improve customer experience, and UPS, which optimizes its delivery routes and saves costs with data analytics.
A Big Data professional is responsible for managing and analyzing data using tools and software to extract valuable knowledge that contributes to business growth.
Related content
Data mining: 6 steps to obtain valuable information
How to perform analysis for strategic decision making?
How to perform a statistical data analysis step by step?