Employee turnover costs businesses a lot in terms of lost knowledge and productivity. High turnover rates can also lead to excessive training costs. For these reasons and more, companies increasingly say that, for them, controlling employee turnover is either an important or urgent matter. One talent-acquisition professional found that, across the board, one-third of new hires … [Read more...] about Why Businesses Need to Use Data-Driven Employee Retention Methods
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.
The Top 5 Reasons Insurance Agencies Need to Use Data
From encouraging customers to spend more by nudging them with just for you recommendations, to analyzing weather patterns to help schedule crop harvesting, data management has impacted all industries. The insurance sector is no different. Insurance agencies have been collecting data for as long as they've been around in order to assess risk, set policy prices, and answer … [Read more...] about The Top 5 Reasons Insurance Agencies Need to Use Data
Preparing for Disaster: The Importance of Big Data Disaster Recovery
Disaster recovery encompasses procedures, policies, and techniques aimed at ensuring the swift and smooth recovery of organizational data and infrastructure after a disaster, whether human or natural-induced. The best way to gain a true understanding of the importance of disaster recovery is to read about some real-life disaster recovery stories in which the lack of clear … [Read more...] about Preparing for Disaster: The Importance of Big Data Disaster Recovery
Digital Transformation: It All Starts With Data Thinking
Every few years, there's a paradigm shift in technology patterns and digital levers. Recently, it is the age of digital disruption caused by a fundamental need for organizations to digitally transform to stay in the game. New technology platforms and services such as the Internet of Things (IoT), Artificial Intelligence, Robotics Process Automation, Machine Learning, and … [Read more...] about Digital Transformation: It All Starts With Data Thinking
BI Strategy Beyond Excel
In a data-driven world, it's odd that gut instinct still plays such a big part in business decisions. But why isn't surprising: Not only do businesses have more data than they can handle, but they're also using a tool never designed to gather BI (Business Intelligence) in the first place. That tool is Excel; approximately 1 in 5 businesses are using spreadsheets as the main … [Read more...] about BI Strategy Beyond Excel
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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.
Want to learn more about big data? Datafloq has courses available. Contact us to get started.
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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.
