“Information is the oil of the 21st century, and analytics is the combustion engine.”- Peter Sondergaard.
Each minute, each day our senses bringing enormous data than we process in our brains. The prime concern lies in turning data into information, and information into insight. Every businesses have an equal access to an extensive pool of information whether this is their understanding of customers’ needs and the business environment or the skills and experience of staff. The way a business shares and exploits this information is the way to develop and grow successfully.
Enter the Big data Era
The soul aim of big data analytics is to assist corporate in making better business decisions by enabling data scientists and other users to analyze huge volumes of transaction data as well as other data sources that can be left untapped by conventional business intelligence programs. These other data sources may include Web server logs and Internet click stream data, social media activity reports, mobile-phone call detail records and information captured by sensors.
Its true that the Internet has changed how businesses operates, governs functions, and people lives. The new trend has transformed the whole scenario in a bigger way: BIG DATA .
Big data is now a reality, the variety,volume and velocity of data coming into your company continue to reach unprecedented levels. This phenomenal growth means that one must understand big data in order to decipher the information that truly counts. Still, you also must understand the possibilities of what you can do with big data analytics.
Why the adoption of Big Data is more important in 2014?
Big data has great potential for creating a more detailed model of the business, such as tracking customers’ paths through stores and analyzing post-sale sentiment expressed on social media to create better offers. There lies is another fact for the upcoming scenario that now the companies will no longer try targeting massive audiences of anonymous consumers. It enables understanding audience preferences and interests and building long-lasting relationships. The use of Big Data is a vital way for leading companies to enhance their performance. In various sectors established competitors and newcomers alike will leverage data-driven strategies to innovate, compete, and capture value. Research study reveals that early adopters of Big Data are using data from sensors embedded in products from children’s toys to industrial goods to determine how these products are actually being used in the real world.
Gartner statistics say that by 2015 nearly 3 billion people will be online, pushing the data created and shared to nearly 8 zettabytes. For comparison purposes, that is the informational equivalent of 1.8 million new Libraries of Congress being created every year. This will also help to create new growth opportunities for entirely new categories of companies, especially the ones that aggregate and analyze industry data.
Big Data analysis is making significant differences in organizations & driving significant opportunities across industries. We love to stay updated with the latest technologies so stay tuned with us.
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