Understanding everything about Big Data, what it is and how it works, can contribute decisively to your results. This is a concept related to data and information, a product of very high value already in its raw form, but that becomes an incredible diamond if cut.
It has never been spoken so much about the importance of data to turn decisions, marketing strategies, products and the own companies more intelligent. And this makes all sense when we look to Big Data and try to understand exactly what it is and for what it is used.
Can you imagine the amount of data produced and stored around the world in this instant? If we consider only the volume of posts on social networks, it is already a lot. But these platforms represent a tip of the iceberg, only.
Now, imagine if we take into account registrations, clicks, purchases, e-mails, photos, instant messages, videos and other data, including those coming from the internet of things?
The growth is exponential and borders on the absurd. Considering that more and more information is generated every second, it wouldn’t make sense to waste it. That’s why each time more professionals and companies start to profit the opportunities opened by data analysis and interpretation.
Knowing how to extract the best trend insights, with Big Data, is to take a step ahead of the competition.
What is Big Data?
In free English translation, Big Data means large volume of data.
The concept refers to an extremely large, multivariate and almost always created real-time data set: the megadata. Well, back to the definition of what is Big Data, the term can also be used to designate the application of the concept. That is, to give name to the analysis and interpretation of large volumes of data to generate important results.
However, for the magic of transforming data into information to happen in a timely manner, the use of special tools is necessary. Unlike those used in common data storage, Big Data solutions have two particularities: elasticity and flexibility. These characteristics make them sufficient to support various types of media and large volumes that grow a lot in a short time.
As you can see, Big Data involves a task of analytical intelligence that, even in smaller volumes, would be almost impossible to accomplish. But today, it can be done by specialized professionals such as data scientist, data engineer and Big Data manager.
What is Big Data for?
The Big Data technology serves to generate value for business from the analysis and interpretation of data at a speed never before seen. This includes unstructured data, that is, that has no relationship and no defined structure.
Something that, until then, could only be analyzed by humans, such as behavior, photos and Instagram posts. Do you still have doubts about the main benefits of Big Data for business?
See, now, a summary with the main ones:
- Big Data makes it easier to follow the new market demands and, with that, the next steps of the competition
- Provides cyber security enhancements by helping to identify possible threats and suspicious activity on the corporate network
- Generates valuable insights on trends and customer needs
- Improves the creation of marketing strategies, which become better and more profitable
- Optimizes internal processes
- Allows the identification of standards so that organizations can better understand the profiles of their audiences
- Reduces communication gaps between companies and customers, creating more personalized and segmented offers
- It also brings gains to the relationship with the client, who feels “more heard”.
- Makes decision making more assertive.
The 5 Vs of Big Data
Even though it is somewhat conventional, there is another definition of Big Data that should not be ignored.
It is about the large amount of data generated.
It concerns the variation of data sources and the increase in the complexity of analysis.
As a consequence of the large volume of data and the variety of information to be analyzed, speed in processing is required. Therefore, this is the third feature of Big Data.
It refers to the reliability and quality of the data and its sources.
It is related to the value generated from this data. That is, the useful information and the benefits it will bring to the company.
What is Big Data Analytics?
After understanding what Big Data is and what it’s for, it’s time to get to know the work that makes cross data possible. I’m talking about Big Data Analytics. It is through it that we can extract, organize, treat and understand the great volume of data we have at hand – whether structured or not. In other words, it’s Big Data Analytics that turns what would be just data into useful information for the company.
Big Data and Business Intelligence: what’s the difference?
Have you ever confused Big Data and Business Intelligence or are you in doubt? Rest assured, because this is relatively common since the two concepts are related. While Big Data is about generating, capturing and processing a large volume of data, Business Intelligence is about systems and software that help generate information from that data.
Did you capture it? Now that you have in mind all the theoretical part regarding the use of Big Data, the time has come to learn how to put your hand in the dough. Or rather, the dice!
How to apply Big Data in practice?
As I mentioned above, it is with Big Data Analytics that it becomes possible to cross data and interpret it.
There are basically three types of data that can be worked with:
- Data of things or personal data – they are based on the Internet of Things
- Enterprise data – are produced by companies and make it easier to identify bottlenecks and measure productivity
- Social date – they originate in people and show what their behaviors are
They can all be used in different sectors of a company.
See some examples:
When applied to marketing, a company can use Big Data to identify consumer behavior and create actions from this information.
- Quality control
From the analysis of Big Data, it is possible to collect production data such as first pass yields and defects per unit and integrate them with others.
As it is the financial sector that indicates the health of the business, by visualizing and interpreting its numbers, it is possible to better understand the profitability of the company.
- Human Resources
By putting certainty in place of presumptions, Big Data can maximize hiring success rate and even predict employee performance.
Can you see the powerful opportunities opened by the use of Big Data? So, here’s a friend’s advice: don’t let your company be intimidated by the abrupt increase in the amount of data generated around the world. It is time to use the power of data intelligence to increase sales and also consumer satisfaction.
What prevents you from taking advantage of this technology trend in favor of your current strategic objectives? Now that you understand what Big Data is and what it’s for, you have the knife and the cheese in your hand to enhance business results.