Being a marketer, one would recognise the immense power of data. Never before have we had access to data like we do today. For many organisations, difficulties arise in collecting, integrating and storing the data. However, making use of this data to drive better business decisions gives organisations a competitive advantage. And I sure am not talking about reporting here. Of … [Read more...] about 5 Ways how Predictive Analytics Can Help You
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.
Reducing Manufacturing Waste With Data: Inventory Insights
Manufacturing waste is a major environmental issue. Even as businesses shift to greener methods and materials, overproduction and poor inventory management pose a serious threat to long-term solvency and sustainability. Luckily, with the advent of new technology, particularly data-driven inventory management tools, manufacturers, and stores have the opportunity to cut back on … [Read more...] about Reducing Manufacturing Waste With Data: Inventory Insights
From Analog to Algorithms The Evolution of Marketing in Retail
As someone who loves retail and the technology behind it, looking back at how things were done in the past, really lets me appreciate how far we have come. Consumers no longer see a distinction between online and offline shopping. Whether it's searching on a laptop, browsing main street shops or hanging out at the mall ” it's all shopping. This evolution of shopping behaviour … [Read more...] about From Analog to Algorithms The Evolution of Marketing in Retail
How Network Data Science Can Help Solve Global Inequality
The debate over global economic inequality ” including income inequality ” is a data-based debate. Economists such as Branko Milanovic and Christoph Lakner argue the data shows things are getting better because more people are now above the extreme poverty line than ever before. The other side of the argument says that, although incomes have increased, the wealthy have jumped … [Read more...] about How Network Data Science Can Help Solve Global Inequality
Amazon Go Shows How Tech Can Enhance Human Interactions
I am not a retail expert, but I can see the appeal of walking into a shop, picking up some products and walking out, without the need to stand in a queue. The success of the Amazon Go test stores in Seattle is a testament to our desire of simplifying our modern lives. But then, it makes me think ¦ If a simple life is a life in our own little bubble, whizzing from task to task … [Read more...] about Amazon Go Shows How Tech Can Enhance Human Interactions
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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.
