Big Data is a term that describes a large volume of both structured and unstructured data. The data is so complex or fast that it is almost impossible to process it through traditional methods. The data can be mined for information and used to understand different systems. Big Data is defined by the 3Vs:
- Volume: The large volume of data collected from different sources including social media, smart devices, transactions, etc.
- Variety: The data comes in all types of format including unstructured text documents, audios, numeric data, emails, etc.
- Velocity: With the growth of Internet of Things, the data comes into the organisations at unprecedented speed and must be generated, collected, and processed at timely manner.
The Importance of Big Data
Like data analytics, the use of Big Data improves your understanding of your target audience including their behaviours, motivations, and need. Moreover, it improves your customer service, and makes it possible to develop customised and personalised branding. The competitive advantages based on insights with the use of Big Data are endless.
What is Next?
You use Big Data the same way as data analytics including data mining, data management, Statistical analysis, and data presentation. Just be sure to know which areas you are want to obtain insights in. If you need help or have any questions, leave a comment or contact me.
