Believe it or not, in the 80s Time Magazine called Apple a chaotic mess without a strategic vision and certainly no future. Since then, Apple has made one of the biggest business comebacks in the last 50 years, achieving a valuation over $900 billion in 2017. This valuation is due in large part to the iPhone. The iPhone does employ AI for Siri and voice recognition ” but … [Read more...] about Will Apple Catch Up to Its Competitors in Artificial Intelligence?
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 How Big Data is Boosting the Efficiency of Healthcare Services
The importance of data is limitless in an industry where millions of valuable patient information keeps circulating from one end of the system to the other. Converting this data into insight that can be later used for delivering better healthcare services to end users was made possible by the introduction of Big Data technologies in the industry. Gradually, the wave of … [Read more...] about 5 Ways How Big Data is Boosting the Efficiency of Healthcare Services
Big Data and AI: Are They Good For Life Sciences?
Over the years, financial industries have had a long track record of managing data and applying analytics to optimizing customer relationships and developing new services. Fortunately more and more life science companies have begun to fully embrace as well as seize upon the opportunities to organize and apply their data in a systematic way, be it drug development or patient … [Read more...] about Big Data and AI: Are They Good For Life Sciences?
How Big Data Enables Open Strategizing
Open strategy is the decentralisation of strategy formulation across, previously excluded, internal and external stakeholders. Traditionally, companies focused on control and ownership of an organisation's assets to ensure competitive advantage. However, this focus on control of resources is no longer the key to success. In today's data-driven societies, knowledge, i.e. data, … [Read more...] about How Big Data Enables Open Strategizing
How Big Data is Improving Jewellery Business Efficiency and Marketing
Did you know that in today's digital world, over 2.5 zeta bytes worth of data is already in existence? It's no wonder the term 'big data' is becoming one of the latest buzzwords in the technology world, referring to huge data volumes that flood a business on a daily basis “ in structured and unstructured formats. Thanks to the digital revolution, over 5 billion people globally … [Read more...] about How Big Data is Improving Jewellery Business Efficiency and Marketing
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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.
