Data analysis has always been crucial for insurance companies as they are deeply engrossed in data progressing and statistical analysis. Conventionally, data has been collected and used to help with underwriting decisions, policies pricing, claims settlements and combat fraud. However, the pace of technological transformation and changes in consumer behavior have lead to a new … [Read more...] about Why Insurance Analytics is Useful for Insurance Industry
Big Data
Learn everything you need to know about big data. Find out how companies are using this revolutionary technology and what it means for your business strategy.
Take Control of Data With a Digital Integration Hub
Although the year 2020 could be touted as the year of COVID-19, it was also a good year for big data. It was the year that showed businesses how big data could benefit them in the areas of data analytics and business application development. The data-driven era is now, and the technology has matured so that it can be used to help organizations achieve their objectives and … [Read more...] about Take Control of Data With a Digital Integration Hub
How Artificial Intelligence and Big Data Can Impact Public Relations
The world is moving at a pace most people didn't consider possible in the last two decades. New technologies are continually affecting how we live and interact with the world around us. Artificial intelligence has been one of the fascinating technologies that are becoming applicable in different areas of our lives. Just like other fields of human endeavor, Public Relation (PR) … [Read more...] about How Artificial Intelligence and Big Data Can Impact Public Relations
6 Ways Hyper-Converged Infrastructure Drives IT Transformation
Business modernization encompasses a myriad of solutions aimed at improving efficiency, security, and output along with productivity, communication, and ultimately CX. Among the numerous ways you can embrace digital transformation and modernization, you will find that IT transformation paramount to success. Creating a more efficient on-site data center is one of the best ways … [Read more...] about 6 Ways Hyper-Converged Infrastructure Drives IT Transformation
Data Science Governance Don’t Reinvent The Wheel
As data science processes continue to become operationalized and embedded within business processes, the importance of governing those processes continues to rise. While governance has been a major focus for many years when it comes to managing data, governance focused on data science processes is still far less mature. That needs to change. This blog will discuss a couple of … [Read more...] about Data Science Governance Don’t Reinvent The Wheel
What is big data?
Big data is a term that refers to the massive amount of digital data created and shared every day. Big data can transform how we live, work, and communicate. It can be used to improve everything from public health and urban planning to business and marketing.
Big data is also changing the way we think about privacy and security. The volume, velocity, and variety of big data present challenges and opportunities for organizations and individuals. Regardless, big data is here to stay, and its impact will only continue to grow in the years to come.
What is big data analytics?
Big data analytics is the process of turning large, complex data sets into actionable insights. Businesses use various analytical tools and techniques, including machine learning and statistical analysis, to do this.
Big data analytics can be used to improve decision-making in areas like marketing, operations, and customer service. It can also be used to identify new business opportunities and optimize existing processes. With the help of big data analysis, businesses can gain a competitive edge by using their data better.
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When was big data introduced?
The term big data was coined in the 1990s, with some giving credit to John Mashey for popularizing the term. However, the concept of big data has been around for much longer.
Where does big data come from?
In the early days of computing, scientists and businesses began to realize that the amount of data being generated was increasing exponentially. As a result, they began to develop new methods for storing and processing data.
Over time, these methods have become increasingly sophisticated and have played a key role in enabling businesses to make sense of vast amounts of information. Today, big data is used in various industries, from retail to healthcare, and its importance is only likely to grow in the years to come.
What are examples of big data?
One of the most common examples of big data is social media data. With over 2 billion active users, Facebook generates a huge amount of data every day. This includes information on user interactions, posts, and even location data. Analyzing this data can help companies better understand their customers and target their marketing efforts.
Another example of big data is GPS signals. These signals are constantly being generated by devices like cell phones and fitness trackers. When combined with other data sets, GPS signals can be used to provide insights into everything from traffic patterns to human behavior. Finally, weather patterns are another type of big data set. By tracking these patterns over time, scientists can better understand the impact of climate change and develop strategies for mitigating its effects.
How do companies use big data?
Companies use big data in marketing, product development, and customer service. By analyzing large data sets, businesses can identify patterns and trends that would be otherwise difficult to spot. For example, a company might use big data to track customer behavior patterns to improve its marketing efforts.
Alternatively, a company might use big data to improve its products by identifying areas where customers are most likely to experience problems. For instance, big data can be used to improve customer service by finding pain points in the customer journey. Ultimately, big data provides companies with a valuable tool for gaining insights into their business operations.