A record number of U.S. travelers visited a foreign country in 2018, and big data just may be an underlying reason behind the significant jump in tourism numbers. Reports indicate that 93 million Americans traveled outside the country in 2018, for both business and leisure. Of those international destinations, Europe saw the highest tourism numbers, with more than 17 million … [Read more...] about How Data is Changing the Way US Travelers Visit Europe
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.
Are You Overinvesting in New Employees?
I know that headline sounds totally off base at first glance, but if you stick with this post and read the context behind it, you'll see that it isn't a silly question. In fact, this blog was spurred by a discussion between several analytics and data science executives that I sat in on a short time ago. The issue raised in this blog certainly applies more broadly than the world … [Read more...] about Are You Overinvesting in New Employees?
5 Tips for Compressing Big Data
The concept of data compression has been around for nearly 200 years. It has been refined over the years to meet an increasing drive for efficiency. This advancement is fortunate since individuals and organizations now collectively create more digital data than ever before. Data compression can have a significant impact on not only the costs of storing this data but the … [Read more...] about 5 Tips for Compressing Big Data
Say No to Healthcare Fraud, Waste, and Abuse with Big Data
The healthcare industry has undergone major transformations over the past few years and has adopted numerous new techniques - remote patient care, online health records, and data-driven care, to name a few. While these changes have increased the industry's efficiency, they have also given rise to a new set of problems that include theft of patients' data. Healthcare agencies … [Read more...] about Say No to Healthcare Fraud, Waste, and Abuse with Big Data
Big Data: A Substitute For Human Experience
Corporate structure has always been based on an employment hierarchy. Workers start at an entry-level position and try to climb their way to the top. When they get to a managerial position, they use the experience they gained as executives and make important strategic decisions. Among other things, the corporate ladder' promotes accountability, gives the organization a proper … [Read more...] about Big Data: A Substitute For Human Experience
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.