Big data can mean a number of things—and guide business decisions in countless ways. It can involve analyzing sheer volumes of data, from 100s of terabytes to petabytes. Or it can imply getting data and information from unlikely sources—sensors from a machine on an assembly line, Twitter and Facebook, or a company’s visitor web log. Big data also entails analyzing streaming data, such as stock market tickers and the external factors that make the market go up or down. In all instances, at the core of big data is an effort to understand behavior—and to use that understanding to make predictions and guide smart next steps.
That said, questions abound about how to make the most of big data—and use it strategically to inform key decisions in your business or organization. While there’s no easy answer, and many companies don’t have the time or expertise to craft and implement a plan, the first step is understanding the tools and technologies behind big data—and their potential to deliver deep insights to your team.
Source: Smart Data Collective