Companies have long been involved in the analysis of how a company performed over time. As the history of big data shows, already for many years, we try to understand how the organisations or the world around us behaves by analysing the available data. In the past, this used to be merely descriptive analytics. This answers the question what happened in the past with the … [Read more...] about Understanding Your Business With Descriptive, Predictive And Prescriptive Analytics
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 Big Data And Analytics Can Help The Banking Industry – Video
The Banking Industry are trying to return to pre-2008 profit margins, but they face tough challenge to achieve that. These challenges, including tighter regulations or reduced interest rates, can be overcome using big data and analytics. Banks collect vast amounts of (customer) data and this data can be used to generate new revenue streams. This interesting video by IBM shows … [Read more...] about How Big Data And Analytics Can Help The Banking Industry – Video
How Big Social Data Can Help Law Enforcement Video
Big data can provide law enforcement with the capabilities to look at the future by combining different sources of information. Big data can help to identify the emergence of the crime and future patterns of crimes. Babak Akhgar, Professor of Informatics, Director of CENTRIC, discusses a 6-tier model of how law enforcement should utilize big data: An assessment should be made, … [Read more...] about How Big Social Data Can Help Law Enforcement Video
How Heineken Interacts With Customers Using Big Data
The Internet of Things will connect billions of devices with each other and the Internet, but who would have thought that this would also involve our beer bottles? Well, Heineken brings sensors to a beer bottle that can dance to the rhythm of music. Talking about innovation. But thats not all how Heineken interacts with its customers in an innovative way using the latest … [Read more...] about How Heineken Interacts With Customers Using Big Data
How Big Data Enables The Golden Age Of Humanity – Video
An interesting talk by Byron Reese about how the world of tomorrow will be full of cheap sensors of all kinds that will create a massive collective memory for the planet. The Internet of Things will optimize our daily lives, thanks to smart algorithms that will analyse all that data. Byron Reese claims that all those sensors will help us live better lives and become smarter … [Read more...] about How Big Data Enables The Golden Age Of Humanity – Video
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.