Big Data and Business: Answers to Unknown Questions
What makes Big Data so useful for many business sectors is the fact that it provides answers to many questions unknown even to the stakeholders themselves. In other words, it provides a more accurate point of reference.
Big data is a term that refers to such large, fast and complex amounts of information that it is difficult or nearly impossible to process them with traditional methods. Simply put, it describes the sheer volume of structured and unstructured data that feeds a company every day. The challenge for every industry is to process all this information flow.
Businesses can use this new analysis system to obtain insights that lead to better decisions and strategic business actions, integrating information from multiple sources, formats and content (numbers, images, text, video, audio, maps, geographic coordinates and web interactions).
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The importance of Big data in business does not revolve around the amount of data that can be obtained, but in what can be achieved with them, how to analyze them to find answers to reduce costs, times, develop new products, optimize opportunities and generate a series of intelligent decision making. In addition, more specific tasks can be performed, such as determining the root causes of failures, problems and defects in real time or detecting fraudulent behavior that affects the organization.
Also see: “Big Data Vs. Traditional Surveys“
Big Data and the way organizations manage and obtain information is changing the way the world uses data in its business.
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