Get to know what Big Data is, how it is different and why you need it to make effective decisions.
Do you want your enterprise to have far more intelligence when it comes to making accurate decisions and predictions on your business? If yes, what you need is Big Data. Let find out more on what Big Data is and why you should use it. The process of collecting, processing and making huge volumes of data stream in real-time is called Big Data. With big data, comes the promise of volume, velocity and variety. Big data can help to combine and make sense of a range of data from marketing, sales and customers. Correlations can be identified and models can be set up to help you make accurate decisions.
How is Big Data different?
In the past, systems would be used to extract, transform and load data into huge data warehouses. On a periodic basis, all the systems would backup and combine the data into a database, from where reports could be created and insight can be gained.
However there were problems. The database technology could not handle multiple and a continuous stream of data, nor could it manage the volume. The incoming data could not be modified in real-time. There was a severe lack of reporting tools to handle queries.
Big Data on the other hand can offer optimized data structures, cloud hosting, indexed data, reporting interfaces, automatic archival and extraction capabilities. With more accurate analyses, your business can make better decisions. Informed business decisions means your company can minimize the risk of your decisions and can make choices that will help you save on cost and increase overall sales/marketing effectiveness.
What are the Benefits of Big Data?
- Big Data is accessible – When you use Big Data, your executives will find it very easy to access the right data, when they need it.
- Big Data is timely – You will never have to spend countless hours managing or finding data, as Big Data is organized and timely.
- Big Data is actionable – Bad or outdated data has been the reason why 46% of companies have made bad decisions, costing them billions.
- Big Data is reliable – Over 80% of organizations struggle with multiple versions of data, depending on the source of their data. With Big Data, companies can create data that is highly accurate and reliable.
- Big Data is secure – A data security breach can cost $214 per client. By using the secure infrastructures built by big data partners, your company could save 1.6% on your annual revenue.
Tap into Big Data today!
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