Terabytes, Petabytes, Exabytes(2^60 –> Quintillion). Who can keep track? These strange terms have just begun to enter the business lexicon, but the hype surrounding them has reached a fever pitch. We have undoubtedly entered the age of BIG DATA.
In simple words, BIG DATA is structured/unstructured data and in large amounts. There is no standard format in the data you have. The important point is, not everyone has a BIG DATA problem. Sometimes, they just create BIG DATA problems.
Coming to the question, Why is BIG DATA so important?
BIG DATA has two components to it:
What will help us is analysis.
There are lots of things you can learn from a given data. And whatever you learn from it can be translated into business models and improvisations. Big data analytics helps to spot certain patterns and behaviour which can be introspected further to understand the causes.
For example, you are analysing data of a manufacturing process. Through your analysis, you observe the bottleneck in the process. Now, with this insight you can make sure the bottleneck is eliminated by manipulating a few feasible parameters. Another scenario is that of predictive analytics. From the past and present data, you try to predict the future of certain things of interest.
In these and many other ways, big data analytics helps to give you a better insight about many behaviours in lesser time and helps you to act on them swiftly.
To condense my thoughts into relatable terms:
Big Data is important because it can help in increasing the productivity of your business.Big Data is mined by some powerful techniques and tools, to draw some consistent patterns and trends, hidden in it. With the help of these patterns, business strategies can be improved, which in turn may increase the productivity.
Data is being produced every minute and in large quantities. You can get data from almost anything you do. Right from typing a search query on the internet to the things you buy at the supermarket. Data can practically be taken from anything. This data is usually in a large chunk and will not make sense unless it is processed and has to be broken down into smaller bits to get the best information out of the data. This information can then be used to take important business decisions, predict future market trends and can help make more profits.
It can be of great use to the government to take governmental decisions and know the progress rate of a city/country. Came across this website of a big data analytics company known as Aureus Analytics. Their big data analytics platform known as ONASAP is truly one of its kind. It has the ability to work through all kinds of data including structured and unstructured, internal and external. Check out the following link to know more about this platform and it might turn out to be useful to you!!
Big Data Analytics is really going to be the future need for every companies as so much Data is produced by every companies and we need to sort it out. The thing Why should you be interested in Big Data? is also the thing in which we guys are interested a lot. Well this article also explain that why Big Data is so important to us. One of the statement which I feel will answer this question properly is this:
The recent advancements in technology has blessed us with amazing ways to collect and store data, which wouldn’t be of imagination a few years back.
Disclaimer: I have a slightly malfunctioned inclination towards data collection and my views might be deep into the no-man zone…unless and until if you have me holding a knife at the back of your neck or any other vital parts of your body or your prized possessions for that matter… It’s only humane to ignore all of the post labelled BIG DATA! But then again if you genuinely want to learn about why exactly learning BIG DATA might increase your chances of getting placed then you are more than welcomed to proceed 😉