Big Data: What is it? & What are the Business Benefits?
Firstly, what is Big Data?
“Extremely large data sets that may be analysed computationally to reveal patterns, trends, and associations, especially relating to human behaviour and interactions.” – Dictionary Definition.
So, the clue is in the name, big data, in essence, is large amounts of data, structured or unstructured, which can be analysed by a computer system to find patterns and trends that may be useful for a business to pick up on.
Data systems as a concept aren’t new. In the 1950’s, long before it was ever called ‘Big Data’, systems would have been put into place for businesses where they would collect their data and arrange it into spreadsheets and have it manually reviewed by human employees.
Of course, these days things have gotten a lot more efficient in the world of data systems due to the power of computers and smart programming. Along with most other things in the technology world, big data systems over the years have gotten far quicker and more accurate than they ever have been.
What are the Business Advantages of Big Data?
A vast amount of businesses and companies worldwide use big data systems on a very regular basis, so you may have guessed, there are definitely some advantages to implementing these systems into your business.
Here are the top business advantages of big data:
- Quicker Decision Making – One of the biggest benefits of big data in business is the speed of analysis. If you have a very large amount of data that could be helpful for your business, it’s much faster to have it run through a computerised system as opposed to needing human review.
- Cost Efficiency – Again, if you have a data system put in place, this automates a large amount of the process for your business, meaning less money is spent on the process to pay staff members for their time.
- Better Decision Making – With the smart programming that goes into these data systems, you can rely on your results being very accurate. This is helpful for businesses as they can look at the patterns, good or bad, and decide on how to change their business most effectively for improvement.
Is Big Data Right for Your Business?
If you’re looking to fine tune the processes and efficiency of your business and you feel that a big data system being implemented could help you, we have a great team of professional consultants who will discuss your project with you and help you decide on which route is best for you.
Contact Appoly for Big Data Consultancy & Development Services
If you want a consultancy to find out whether or not having a data system developed is right for you, or you want a bespoke big data system to be developed and fine-tuned for your business, get in touch with Appoly experts today. We are always happy to listen to your needs and provide you with honest and professional advice and solutions.