The BIG data push
What the big idea?
You may have heard the term ‘big data’ being thrown around recently, but do you actually know what it is?
In simple, it is a term that describes a large volume of data, both structured and unstructured, that inundates a business on a day-to-day basis.
The term itself is relatively new, however the concept have been around for a while. Back in the early 2000s, industry Analyst Doug Laney defined big data in his words as the three Vs:
- Volume (the amount of data organisations collect from a variety of sources – business transactions, social media, sign-ups…)
- Velocity (the sheer amount of data that comes in and must be dealt with almost instantly)
- Variety (the many different ways in which data comes into a business and the need for it all to be condensed into one coherent way).
Okay, so why is it important?
We all know data is important but this movement is all about understanding how all these different elements can work together to help the business achieve things it has never done before. If processed, managed and implemented properly, big data can help you accomplish a variety of different business targets. It can…
Highlight any issues, failures or defects in real-time
Calculate and recalculate risk levels in minutes
Detect fraudulent behaviour before it even hits your organisation
Generate coupons and discounts for customers in real-time, based on their previous purchasing or browsing habits.
Can you afford to not be making the most of it?
Whatever it is you want to achieve, big data can help you get there, with a little help from us. Give us a call today to find out more.