Big Data is one of the significant trends in digital technology today and is even presented as the hallmark of the following transformations in the market and society.
This phenomenon is possible due to the massive amount of information generated and circulated throughout the world using technology, allowing the development of Artificial Intelligence (through Machine Learning and Business Intelligence ).
What Is Big Data?
Big Data is related to managing and analyzing massive amounts of data generated by the high digital connectivity in technological devices.
The changes and benefits of using Big Data are mainly linked to the actions taken through data analysis to develop products and services using the volume of data available in their banks.
The Data-Driven Culture is transformative, based on making data-oriented decisions, and allows business competitiveness, increased process efficiency, and cost reduction, creating increasingly concrete and measurable metrics.
One of the biggest trends for Big Data is the use of Digital Marketing metrics in companies. Tools like Google Analytics collect your business interactions from social networks and outline solutions for your brand.
What Are The Main Aspects Of Big Data?
Big Data has three aspects known as the 3 Vs., which involve the following topics:
Volume: processing and using a massive amount of unstructured and low-intensity data.
Velocity: Data is generated at a high rate of speed for real-time operation.
Variety: the existence of different types of data available.
Some sources add two more Vs. to aspects of Big Data: value and veracity. These two variables bring definition and reliability to the concept, enabling better analysis of the collected information.
How Big Data Works
The functioning of Big Data consists of four steps that are arranged as follows:
- Collect: Data must be collected from multiple sources, including first, second, or third data.
- Integrate: The data is entered, processed, and verified so that it can start to be used. This step requires using strategies to analyze these Big Data sets in terabytes or petabytes.
- Manage: Data is organized and prepared for analysis. The storage solution can be found in the cloud, local or mixed technology.
- Analyze: The data is detailed, and patterns are identified.
Data Classification
Data can be classified into structured and unstructured. Check out the features of each one below:
- Structured/multi-structured data: information easily recognized, analyzed, and processed by banks, derived from the interaction between people and computers. Examples: logs – forms or transactional information.
- Unstructured data: information needs to be more organized and understood by traditional databases and known data formats. Examples: texts, blog metadata, images, and tweets.
After understanding the main characteristics of Big Data, it’s time to know where it can be used in the job market. Check below:
Examples Of Using Big Data
Big Data can be used in the most diverse areas of the market. Check out some of its applications below:
- Product development: used to anticipate customer demand and create new products;
- Predictive maintenance: prediction of failures in equipment or machines;
- Customer Experience: improves the view of the customer experience;
- Technical improvements: understanding the physical assets of the process through modeling;
- Operational efficiency: Assists in decision-making based on market trends;
- Fraud Security: Assists in identifying patterns and fraud.
What Is The Importance Of Big Data In Digital Transformation?
Big Data is related to the study, analysis, and interpretation of a larger and more complex data set. This information makes it possible to obtain more complete answers, increasing the information’s reliability.
Furthermore, Big Data is responsible for the way electronic devices can communicate with each other. These functionalities include detecting problems, saving time, reducing operating costs, and making decisions.
In summary, the digital transformation process is responsible for integrating these technologies in various areas of companies. Big Data contributes to operational agility and a data-driven decision-making culture.
Also Read: Project Management And Big Data: Their Relationship