Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis [1]. However, it is not amount of data that is important, it is what the organization does with the data. There are three parts when it comes to big data, volume, variety, and variability. Volume is the amount of data matters. With big data, you’ll have to process high volumes of low-density, unstructured data. Velocity is the speed at which data is received and acted on. Normally, the highest velocity of data streams directly into memory versus being written to disk. Variety refers to the kind of data that are available. Traditional data types were structured and fit neatly in a relational database. With the rise of big data, data comes in new unstructured data types. Unstructured and semistructured data types, such as text, audio, and video require additional preprocessing to derive meaning and support metadata. Companies use the big data accumulated in their systems to improve operations, provide better customer service, create personalized marketing campaigns based on specific customer preferences, and, ultimately, increase profitability [2]. Big data is largely a result of the rise of computers, the Internet and technology capable of capturing data from the world we live in. When we look at the data itself, that has always existed. Today, every two days we create as much data as we did from the beginning of time until 2000 [3]. The data we create is increasing daily. Big data is used to identify trends and patters that is then used to help companies learn about customers wants and needs. If we look at this in a real life example, people now days are extremely willing to give their personal data in order to make their lives easier. For example, if I tweet about a new restaurant I tried, that data that is posted on twitter can be found by that restaurant for them to see what people are saying about them.They use special software to analyze the data that is being posted on not just twitter but facebook too. This works so well because of social media playing such a big part in our lives. Successful companies use both structured and unstructured data flow when looking at customer insights. The more data that is analyzed by a company, the more they can improve a customers experience. Therefore, allowing companies to make lots of money.
Works Cited:
“What Is Big Data and Why It Matters.” SAS. Accessed December 13, 2018. https://www.sas.com/en_us/insights/big-data/what-is-big-data.html.
“What Is Big Data? – Definition from WhatIs.com.” SearchDataManagement. Accessed December 13, 2018. https://searchdatamanagement.techtarget.com/definition/big-data.
“What Is Big Data? A Super Simple Explanation for Everyone.” Bernard Marr. Accessed December 13, 2018. https://www.bernardmarr.com/default.asp?contentID=766.
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