Countless experts have discussed the proliferation of big data over the last decade. The global market for big data is projected to reach $229 billion within the next five years. This is an important testament to the incredible value that big data has brought to organizations around the world. Despite the global impact of big data, the focus is too frequently viewed through the … [Read more...] about Data Analytics Assesses Event Impacts on Developing Economies
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.
5 Ways of Using Data Science to Enhance Customer Service
Technology is evolving at a rapid pace and is faster than ever. You won't believe, one of the top trending technologies, Big data led Germany to win its FIFA world cup in 2014. Surprisingly, in Soccer's history, it was perhaps the first time that any team did extensive research before finals to win the trophy. And all the credit goes to the miracle of these technologies, which … [Read more...] about 5 Ways of Using Data Science to Enhance Customer Service
Why it’s Crucial for Product Managers to Study Data Interpretation
While product managers' roles vary depending on the given sector and the company in question, generally speaking, these individuals must assume the responsibility of delivering unique products that cater to customers' needs and represent feasible business opportunities. Typically, product managers articulate the customers' needs, design the product roadmap, outline a vision, … [Read more...] about Why it’s Crucial for Product Managers to Study Data Interpretation
Microsoft quietly prepares to avoid spotlight under Biden
By Nandita Bose WASHINGTON (Reuters) - Microsoft Corp, which has largely evaded Washington's scrutiny of Big Tech companies and scored a lucrative $10 billion government contract under the Trump administration, has emerged as a significant backer of the Biden campaign. The Redmond, Washington-based software company is the fourth largest contributor to Democratic Presidential … [Read more...] about Microsoft quietly prepares to avoid spotlight under Biden
WDSI’s Data Science Subsidies for Universities Worth $300 Mn
As per IBM, the demand for data scientists is going to increase by 28% in 2020 compared to last year. Another study says that in the year 2020, data science job roles will demand ML (machine learning) and data science skills, given the fast acceptance of IoT & cloud technologies across businesses worldwide. As per a Statista study on the extent of big data adoption among … [Read more...] about WDSI’s Data Science Subsidies for Universities Worth $300 Mn
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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.
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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.
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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.
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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.
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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.
