2. WHAT IS BIG DATA ?
It describes LARGEVOLUME OF DATA both
unstructured and structured that inundates the
business on day to day basis.
It is that data which matters for an organization.
BIG DATA can be analysed for insights which
lead to strategic business moves and better
decisions.
3. BIG DATA’S BIG POTENTIAL
The amount of data that is being created and stored
on global level is almost inconceivable , and it keeps
on growing.This means there is a greater potential
to glean the key insights from business information
,yet only a tiny percentage of data is actually
analysed.
4. WHY IS BIG DATA IMPORTANT?
The importance of BIG DATA doesn’t revolve around how much
data you have ,but what you do with it .You can take data from any
source an analyse it to find the answers that enable :
1. Cost Reductions
2.Time Reductions
3. New product development and optimised offerings, and
4.Smart decisions making.
5. When you combine BIG DATA with high powered
analytics ,you can accomplish business related tasks
such as:
Generating coupons at the point of sale based on the
customer’s buying habits.
Determining root causes of failures ,issues and defects
in near -real time.
Detecting fraudulent behaviour before it affects your
organization.
Recalculating entire risk portfolios in minutes.