‘Big Data’ refers to an immense volume of data and datasets, comprising both structured and unstructured information, sourced from various origins. These datasets are so vast that conventional data processing software struggles to capture, manage, or process them effectively. Complex big data sets offer the ability to tackle business challenges that were previously insurmountable.
Big data is often characterized by the three Vs: data with diverse Variety, arriving in increasing Volumes, and at high Velocities. This data can be sourced from publicly accessible platforms such as websites, social media, the cloud, mobile apps, sensors, and other devices. Businesses utilize this data to understand consumer details such as purchase history, search queries, viewing habits, preferences, and more.
Big data analytics employs analytical techniques to scrutinize this data, revealing hidden patterns, correlations, market trends, and consumer preferences. These analytics enable organizations to make well-informed business decisions, leading to streamlined operations, satisfied consumers, and heightened profits.
