Big data increasingly drives the business world. However, the insights from data are only valuable if decision-makers can understand them. This is sometimes a challenge for non-technical stakeholders, whose forte in other areas might not extend to interpreting complex technical information. Thus, visualization is critical to communicating effectively and carrying everyone along … [Read more...] about Leveraging Visuals to Simplify Big Data Analytics for Non-Technical Stakeholders
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 Role of Technology in Transforming Fund Support Operations
Fund operations may encompass investor onboarding, shareholder relations, financial audits, digital commerce integrations, market research, multimarket fund development, and debt conversion. Stakeholders in the rapidly growing banking, financial services, and insurance (BFSI) industry also consider embracing the latest fintech innovations to streamline these activities. This … [Read more...] about The Role of Technology in Transforming Fund Support Operations
Power BI vs. Excel: Which is Better for Data Analysis?
Microsoft's Power BI has more than 25,000 US customers conducting visual data analysis. Meanwhile, MS Excel's global user base estimates lie between 1 to 1.5 billion. However, the former specializes in business intelligence, while the latter has occupied every individual's device and workflow. Both offer remarkable advantages for insight extraction. This post will include Power … [Read more...] about Power BI vs. Excel: Which is Better for Data Analysis?
How to Maintain Data Quality in the Supply Chain
Data quality is critical in supply chain management, directly influencing the efficiency and accuracy of operations. When it's reliable, supply chain managers can make informed decisions to optimize processes, reduce costs and enhance customer satisfaction. However, poor data quality can lead to significant disruptions. Inaccurate or inconsistent information can cause delays, … [Read more...] about How to Maintain Data Quality in the Supply Chain
Embracing the Edge: How Edge Computing Revolutionizes Data Analytics
In an era dominated by data, edge computing has emerged as a transformative technology, pushing the boundaries of data processing and real-time analytics. As businesses continue to generate vast amounts of data from various sources including IoT devices, there's a growing need to process this data closer to its source to enhance efficiency and response times. The Shift to Edge … [Read more...] about Embracing the Edge: How Edge Computing Revolutionizes Data Analytics
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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.
