The shift towards mobile-first activity has affected practically all sectors and the financial and banking sector is no exception. In fact, almost 70% of American consumers now access banking via a mobile app, more than the proportion who visit brick-and-mortar branches. Unsurprisingly, there has been a wave of activity as both new fintech firms and traditional financial … [Read more...] about How Big Data, AI, Blockchain and the IoT are set to Transform Mobile Banking
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.
How to Reduce Technology Distractions for a More Productive Workplace
Research by Citrix and Forrester reveals critical insights for the corporate sector that circles around how productivity is driven and inhibited in organizations. Some of these are listed below: Surprisingly, the IT department does not call the shots in technological investments of organizations. Studies suggest that only 12% of these decisions are under the control of IT … [Read more...] about How to Reduce Technology Distractions for a More Productive Workplace
Build an Analytics Strategy for an AI Driven Future with the Hybrid Cloud
As a long-time part of this industry, I have spent a good part of the last decade talking about the digital transformation. Call it the digital transformation or the data-led transformation, but this transformation has been the talk of the town for a long time now. Not only are organizations geared toward achieving a better analytics setup, but they are also on the lookout for … [Read more...] about Build an Analytics Strategy for an AI Driven Future with the Hybrid Cloud
Operationalized End to End Enterprise AI Becomes Mainstream
The world is in the era of AI, and we are quickly moving toward the age of intelligence. Organizations across the globe have realized the potential hosted by AI, and how leveraging that potential can help them in extracting the best possible results. We are seeing a massive increase in the investment companies across the globe are making in AI. AI is being called a … [Read more...] about Operationalized End to End Enterprise AI Becomes Mainstream
Faster Innovation and Development with a Full-Stack AI Strategy
The future is here and companies that have incorporated the latest innovations led by AI in their business processes are reaping the rewards. A full-stack AI strategy is the way forward and is being adopted by numerous organizations with their eyes on the future. Organizations that have currently implemented the full-stack approach within their business processes are … [Read more...] about Faster Innovation and Development with a Full-Stack AI Strategy
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.