Definition of Big Data
Big Data is a common term for a collection of information of considerable size that can be used for commercial or other purposes.
What is it used for? The answer is simple: Big Data is about collecting, storing and analysing data on a huge scale and of great complexity. The information gathered is used by companies to
improve their marketing strategies, sales, production of commercial information and price optimization. Big Data can also be used by investors to analyze a company's costs and profits based on the size of its database.
The history of Big Data
Big data has been spreading across the technology world since the 2000s. It has become an essential technology for businesses and public authorities, who use it to improve the quality of life of users, combat computer attacks and improve the overall performance of their systems.
Although the concept of big data itself is relatively new, the origins of large data sets date back to the 1960s and 1970s, when the world of data was just emerging with the first data centres and the development of the relational database.
Around 2005, people began to realise the relevance of user-generated data via Facebook, YouTube and other online services. Hadoop (an open-source framework created specifically to store and analyse large datasets) was developed in the same year. NoSQL also became more popular around this time.
With the advent of the Internet of Things (IoT), more and more objects and devices are connected to the Internet, collecting data on customer usage patterns and product performance. The emergence of machine learning has produced even more data.
Although Big Data has come a long way, its usefulness is only just beginning. Cloud computing has further extended the possibilities of Big Data. The cloud offers truly flexible scalability, where developers can simply create ad hoc clusters to test a subset of the data. Graph-oriented databases are also becoming increasingly important, with their ability to display huge amounts of data in a way that makes analysis fast and comprehensive.
Some megadata use cases
Big data is a collection of structured and unstructured information collected from different sources to create an integrated body of knowledge. For example, big data can be used to predict future trends based on historical patterns. Big data allows us to make syntheses by analyzing past events and then use this information for future predictions.
Advertising
The most obvious use case for big data is advertising. You can use it to find out who your customers are, where they live, what they like, and what worries them. You can also target them with advertisements tailored specifically to their interests and preferences.
Product development
Large companies in the entertainment industry use big data to anticipate the needs of the public. They build predictive models for new products and services by ranking key attributes of past and current products or services and modeling the relationship between these attributes and the commercial success of offerings. Additionally, P&G uses data and analytics from focus groups, social media, test markets, and early in-store rollouts to plan, produce, and launch new products.
Client experience
Big data can be used to assess customer satisfaction and establish performance targets. It can be used to determine whether sales offers are relevant, whether marketing is well positioned in terms of the products and services available, and whether customer relations are as constructive as ever.
A clearer view of the customer experience is more possible than ever. Big Data allows you to collect data from social media, web visits, call logs and other sources to improve the interaction experience and maximise the value delivered. Start delivering personalised offers, reduce customer churn and proactively manage issues.
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Big Data: how does it work?
Megadata is produced by many different sources such as social media, search engines, mobile devices, sensors and so on. It has become so common for businesses to have access to vast amounts of data that they don't even realise it any more.
Big Data is produced when an organisation collects, stores, analyses and gives meaning to huge quantities of information.
Google Search is one of the most popular and successful examples of Big Data. The company collects billions of search queries, enabling it to track trends and anticipate user needs. The Google search team uses this information to make changes and improve its services.
Google's technology has become so advanced that they can literally know what you're thinking before you even type it. This is called predictive analytics and it allows them to understand how users interact with their services and deliver better results for everyone.
Interest of Big Data for small businesses
It's a new era for small and medium-sized businesses. Big Data is a reality for everyone. The reason why it's important for your business to use Big Data is that it will help you make better decisions. For example, if you're looking at what type of product to launch, with big data in your possession, you'll know more precisely what the demand is and how many people are prepared to buy that particular product.
You don't have to be a big business to reap the benefits of Big Data. It's something that can be used by any small business or even an individual with access to an internet connection and computer hardware. All you need is an idea of what kind of data you need to make your business grow better.
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