Big Data is a large volume of data that needs to be processed by specific tools to interpret it strategically. The idea is to use this data to transform it into relevant and valuable information with the aim of structuring, in a more assertive way, the organizations ‘ processes and marketing strategies.
Currently, the volume of data is almost immeasurable; billions of new pieces of information are generated daily and worldwide. Just stop to think about the drivers of this information, such as applications, televisions, cell phones, and the Internet of Things (IoT). What all these objects have in common is that they all have systems that capture, store, and process new data. Imagine that every action on any platform automatically counts and is collected to be analyzed later.
The concept of Big Data is contemplated in some V’s, the main ones being: Velocity, Volume, and Variety. The first emphasizes how important it is that time-sensitive information must be processed very quickly not to impact a given result. The second covers the rise of data storage space, which has been growing exorbitantly. Variety is the ability to capture different data formats, such as text, web browsing, video, audio, sensors, and turnstiles.
How to use Big Data strategically?
We have prepared a series of advantages on how your company can use this large volume of Big Data to perform better in different sectors; check it out:
- Product development: data collected from social media, test markets, and early launches can be very useful if the intention is to interpret this information to create products based on customer pain points;
- Early maintenance: data from sensors, year, model, and brand of car equipment can be used in advance to detect and solve possible functional problems;
- Consumer experience: Big Data information can also be used to measure consumer behaviour based on their movements on social networks, browsing websites, etc.;
- Machine Learning: the term represents a very advanced artificial intelligence since it can modify its actions independently, based on experience.
Also Read: Big Data: Present And Future For Companies