Big Data is..
The world is increasingly becoming a digital space! Today, we manage, share and store our lives online. Data is gathered from our devices like computers, smartphones that collect and transmit information on what we do. But that is just the beginning; soon most things including our televisions, watches and even diapers will collect and transmit data! In fact, if we collect all the data from the beginning of time till the year 2000 it will be less than what we now create in a minute. This phenomenon is transforming our understanding of the world and our place in it; it has become known as Big Data.
Big Data could be invaluable for business; it could provide a window into the lives of customers as we have never previously imagined. But there is a problem; how do we unravel the strands of Big Data and pick out the relevant parts? Data comes from so many sources, how do we know where to look? And how do we access it? In short, how do we turn all this information into knowledge?
Businesses are already using Big Data to better understand and predict customer behaviour and optimize and improve business processes. But the possible applications of Big Data are endless; we are only just beginning to see the emergence of the Big Data economy. Every business needs to consider Big Data or risk being left behind; that is the importance of Big Data in our world today!