Big Data is not new and has been around for a while now but most of us don’t know what Big Data is and how it can help you in growing your business. It’s an evolving term that is coined to describe a large amount of data whether it’s in structured or unstructured form and can possibly be used to dig out some important information that can help your business grow.
Before the Big Data, businesses were deriving information manually and through spreadsheet that takes quite some time and slows the growth planning. But with the technology the advantage that Big Data analytics offers to your business is the speed and efficiency at which the information is mined and processed. The ability to work at more velocity and with precise data gives an organization an advantage over their competition.
Why Big Data?
The process through which Big Data processes information usually categorized by three steps or the 3Vs: first, the huge volume of data which can be in terabytes,petabytes and even exabytes; second, the variety of data types like SQL database store; and third the velocity at which the huge amount of data or information must be processed. These 3Vs will help your business grow, let’s get to know the 3Vs a bit more:
Volume of Data
The volume of information that needs to be processed can be in terabytes, petabytes and sometimes even exabytes. Data of such volume does not come from a single source but rather is a collection of various business records, scientific experiments or the real-time data that can be imported using the IoT. The data may not always be preprocessed and can also be raw, this is processed using software tools before the Big Data Analytics are applied and can be used to determine growth opprtunity.
Variety of Data Types
The data that is collected may not always be of same file type as it has been collected from various sources possibly. It may contain structured data like SQL database store; semistructured or unstructured data like document files; or streaming data from real-time. So, it becomes really important to integrate all this data before processing them.
Velocity of Data Processeing
The final step as to why Big Data analytics process is important is the velocity at which the data is processed and analyzed. As the data gathered is of large volume it is necessary to have speed to analyze the information. Every big data analytics will fetch the data, harmonize and analyze the data source or medium and then will provide a well processed and logical answer to the query.
These are the reason why you should move to Big Data so that you can speed the process that at which you can analyze what’s the best strategy and way for your business to grow.