Big Data and Business Intellegence for IT Departments
What is Big Data?
Big data is a ‘buzzword’ used to describe the significant amounts of ‘structured and unstructured’ data that is so large and complex that it becomes difficult to process using traditional database and software tools.
It is believed the term originated from web search companies that had to query ‘large distributed aggregations’ of data.
Everyday 2.5 quintillion bytes of data are created. 90% of this data was created in the last two years and comes from everywhere, for example: social media sites, online videos and purchases, mobile GPS signals and climate information, to name a few.
How can small business harness the power of big data?
In order to improve your business you need to understand the power of Big Data. As a small to medium business, you need to able to capture and analyze this data and feed it into your decision making process so that your, organization will be able to change and adapt to business conditions as quickly as possible.
A good example of companies who can benefit from understanding and using Big Data are Consumer product based companies and retailers. They can monitor social media, such as Twitter, Linked-in and Facebook to gain valuable insights into customer behaviours, preferences, products and brand perception.