Big Data is a term that is gravitating from the world of IT to mainstream business. To help you get your head around it and see how it could work for your business we’ve created a 3 step guide.
Businesses generate and store masses of data every day; customer information, performance metrics, service insights and the list goes on. This is nothing new but new technology has changed how we manage data and how we can use it to our advantage.
To make data ‘big’ it involves value extraction and analysis of a large amount of data. Using tools, the data can be analysed for results, predictions or various other uses to glean valuable information which can be used for business improvement.
The problem with big data lies with the challenge of handling such a large volume of data. There are concerns of storage, analysis, access, transferring and securing this information.
How Big Data can transform your business?
These 4 points give a simple overview of ways in which this could benefit your business:
1. Opens a platform for new processes i.e. mobile
2. Big Data fused with analytics is considered a valuable service
3. Helps with customer knowledge
4. Can improve productivity, decision making and operating efficiencies
The Future of Big Data – 2016
Where is it heading in 2016 and beyond?
Many experts are tipping 2016 to be an exciting year for big data. Data Guru Bernard Marr said that this year, “Big Data will go even more mainstream. 2016 will also be the year when companies without solid big data strategies will start to fall behind.”
The technology that supports data will continue to evolve and companies will need to be looking into how they can capture commercial value from this data. According to Jeremy Waite, Head of Digital Strategy at EMEA Salesforce Marketing Cloud, the 2016 big data motto needs to be “We must create more value from data than we capture.”
And there you have it! A 3 step guide to ‘big data’. To consider how you manage data in your business our IT Training courses are highly effective and are a popular choice for leading organisations in South Wales. For Microsoft Excel courses or data analysis and management courses view our online IT course list.
This blog was created by our intern Daniel Fry who is currently studying in university.