Bigdata is the process of dealing with large volumes of data, both structured and unstructured. The key element to remember is that it is not the amount of data that creates value rather it is the actionable information that is generated. This information can then allow business decisions by senior management and make the organization responsive to the customers which will generate more revenue and profit.
With the increase in both the amount and the number of new sources of data available, we have truly embarked on a new information age. Data is therefore crucial for every organization. The right information provided in a timely manner will allow them to plan their products or services, make the products more appealing to their end users and to gain feedback from the consumers of their products and services. Enormous amounts of data will be collected from purchases, social media, feedback from users and a wide range of IoT devices that will tap into the habits of consumers. Since information can grow stale with time, the velocity of data capture needs to be high. After capture the data needs to be converted to information in as close to real time as possible. There are tremendous advantages to the first movers in any industry. Data processed into actionable information will enable competitive advantage to those organizations that build out their capabilities to deal with big data.
Industry Giants like LinkedIn, UPS, Bank of America and many other are converting big data into information to gain an edge over their competitors. Big data is used by many companies for many reasons, examples are keeping in touch with consumer habits, tracking competitive activity and in reducing cost and gaining operational efficiencies.
Bigdata is a technology using databases, languages and frameworks. The frameworks and languages are used to customize the data tabulation from the databases in ways that benefit the organization. If your organization is wrestling with Big Data, take advantage of our experience and expertise in the Big Data arena, we have successfully assisted many clients in making Big Data into information that makes a big difference in their business.