Big data is more than just the hottest buzzword in business technology. It is revolutionizing
the way that companies analyze data and make decisions. To some degree, most
companies utilize big data in some shape, way or form, but data analytics software has
optimized the ability to harness massive amounts of data and use it to pinpoint trends.
This technology can enable your company to make well-informed decisions that can help
you better serve your customers in real time.
Big data analytics has four main features known as the four V's of big data according to
IBM. These four V's are volume, variety, velocity and veracity. Volume relates to how much
data can be harnessed and analyzed, variety is of course the range of different types of
data that can be collected, volume relates to speed and data streaming capabilities and
veracity refers to the consistency and accuracy of the data. Maximizing the four V's
could help you see great gains in a fifth V: value.
Save Time
Big data, as the term is used these days, can best be described as data analytics. Big data
itself literally refers to the large amount of data that a company generates, while data
analytics encompasses the methods of turning that data into predictive campaigns such
as marketing strategies and product launches. Data analytics software like Kafka can save
you hours that would otherwise be spent manually inputting and comparing data that
probably won't even be implementable immediately. So, what is Kafka? It is software that
collects, analyzes and compares data at hyper-speed and allows you to make well-informed
business decision within minutes, not hours. This and other software arm businesses with
the ability to harness and utilize big data like an expert without actually being one.
itself literally refers to the large amount of data that a company generates, while data
analytics encompasses the methods of turning that data into predictive campaigns such
as marketing strategies and product launches. Data analytics software like Kafka can save
you hours that would otherwise be spent manually inputting and comparing data that
probably won't even be implementable immediately. So, what is Kafka? It is software that
collects, analyzes and compares data at hyper-speed and allows you to make well-informed
business decision within minutes, not hours. This and other software arm businesses with
the ability to harness and utilize big data like an expert without actually being one.
Big Data Platforms Save Money
Cost is always a factor when it comes to ways to improve business productivity through
technology. Big data platforms save money. Because these programs can gather, analyze
and process such a wide variety of data, and do so with veracity, it can be used to pinpoint
areas where your company is wasting money. Everything that a business does adds to its
overhead costs, and big data can illuminate wasteful spending so that you can slay that
dragon. Also, because it can collect such a high volume of varieties of data at a high velocity
with great veracity, there go those four V's again, it eliminates the need to outsource data
analyses. Firms and temp agencies that offer these services can take your budget places
that you never thought it possible, but the right software for your company could eliminate
the need for a data analytics team altogether.
technology. Big data platforms save money. Because these programs can gather, analyze
and process such a wide variety of data, and do so with veracity, it can be used to pinpoint
areas where your company is wasting money. Everything that a business does adds to its
overhead costs, and big data can illuminate wasteful spending so that you can slay that
dragon. Also, because it can collect such a high volume of varieties of data at a high velocity
with great veracity, there go those four V's again, it eliminates the need to outsource data
analyses. Firms and temp agencies that offer these services can take your budget places
that you never thought it possible, but the right software for your company could eliminate
the need for a data analytics team altogether.
Get Ahead of the Curve
Of course a crystal ball is what every entrepreneur wants at their disposal, and while data
analytics can't necessarily tell you what is to come, it can help point your business in the
direction that it needs to go to maximize profit. Big data can be used to predict anything
from product delivery times based on the location, time and traffic trends to what new
products your customers want. In years past, big data could only be used to show you
what worked for your company in the past, but now it can be used to tell you what is
most likely to work in the future.
analytics can't necessarily tell you what is to come, it can help point your business in the
direction that it needs to go to maximize profit. Big data can be used to predict anything
from product delivery times based on the location, time and traffic trends to what new
products your customers want. In years past, big data could only be used to show you
what worked for your company in the past, but now it can be used to tell you what is
most likely to work in the future.
While big data may sound intimidating, it's not. Your company more than likely already
collects big data. The real question is: Does your company have the proper technology to
maximize this data? The fact of the matter is that your competition is looking to get a jump
on the rest of the field, but big data analytics can help you not only keep up, but get ahead.
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