What Is Big Data?

The term "big data" encompasses the volume of information, the speed at which it is created and collected, and the scope of the data to provide the raw material used in data mining. Technology companies like Alphabet and Meta use big data for tasks, such as generating advertising revenue through targeted ads on social media pl⛎atforms and websites.

Collection and Storage

Big data is structured or unstructured. Structured data is commonly numeric information easily accessed from databases and spreadsheets. Unstructured data can be more qualitative and unorganized. According to IBM, examples of unstructured data may include "text, mobile activity, social media posts, and 澳洲幸运5官方开奖结果体彩网:Internet of Things (IoT) sensor data." Semi-structured da꧅ta has characteristics o🉐f both structured and unstructured data.

Big data is collected through questionnaires, product purchases on websites or at 澳洲幸运5官方开奖结果体彩网:point-of-sale (POS) terminals, electronic check-ins, personal devices, and apps. While beneficial for multiple uses, big data collection raises privacy concerns and the potential vulnerability to 澳洲幸运5官方开奖结果体彩网:cyber attacks and 澳洲幸运5官方开奖结果体彩网:data breaches.

Big data is typically stored electronically in what are sometimes referred to as 澳洲幸运5官方开奖结果体彩网:data warehouses or data lakes. It is analyzed using software that handles large data sets. Many 澳洲幸运5官方开奖结果体彩网:software-as-a-service (SaaS) companies specialize in managing this type of complex data.

How Is Big Data Used?

The "V's of Big Data" help define how this type of information differs from other data. Big data is a large volume of information collected quickly with high velocity. It consists of a variety of reliable information with proven veracity and provides value to corporate entities. Common uses include:

• Data analysts find relationships in consumer data, such as demographics or purchase history, to determine whether a correlation exists.
• Companies rely on big data assessments to implement strategies in human resources, production, marketing, or sales.
• Big data helps increase the speed at which products get to market and reduces the time and resources required to gain market adoption.
• Big data helps target the right audiences and ensures customers come back.
• It allows companies to tailor products to deliver what customers want.

The Bottom Line

Big data is the vast, complex data sets that traditional data management syste💛ms cannot handle. Big data can help organizations create new strategies and make better corporate decisions when big data is collected and managed properly.