Data has been ‘big’ for many years, so why it is getting so much attention now and becoming the topic of discussion. One of the reasons for it can be that organizations are beginning to realize that they have a lot of information about almost everything they do that could give them a better insight.
Big data has a lot of potential to benefit organizations in every industry. Big Data can be defined as a collection of data sets, which are so complex and large that the data cannot be easily gathered, stored, searched and analyzed using different tools. Big data is just not a bulk of data but it is combination of different data sets which will provide organizations real insights that can be used in the decision-making process and in result will help to improve the financial growth and position of an organization.
Big data can be categorized into two different types, structured and unstructured. Billions of emails being sent per day can be considered structured text and one of the simplest forms of big data. Other forms of structured data can be log data and network security alerts. Unstructured data is a primary source of growth in big data. Music is an ever increasing variety of data and we are streaming millions hours of music each day over the free music services. Old television shows and movies are another source of the unstructured data.
Big data has the potential to change how companies relate to their customers .And it can be done in large scale not in just small percentage. Business can influence the large amounts of information available in their customer interactions and online marketing paths which can be social media, blogs or websites to finely differentiate, maintain, and grow relationships with their customers.
Big Data is changing the way of our lives, from running businesses to shopping at the malls. Every piece of collected information is being categorized and used to analyze the way consumers think and behave and this information acts like a magic wand, when properly used, data is capable of allowing you and your sales organization to predict the future and to know what your customers want even before them. In short sectors that use Big Data in a proper, effective and smart way will be able to drastically enhance their level of productivity and competitive edge hence improving the quality of life of people.