The Importance of Big Data in 2021Business, Business + Tech Solution, Tech Tips + Tricks, Technology
Sagara Technology – The importance of big data is clearly no doubt if you’re running a company because big data will help you make decisions for your company. But, the raw one must be processed first by data scientists, analytics, engineer, etc.
The definition itself is a collection of huge data in volume and growing exponentially with time. Yet the data is so large and complex in a capacity that no traditional data management tools can store it or processing it efficiently.
Characteristics of big data
1. Data Volume
As mention, Big data itself is related to an enormous size. The size of data plays a very crucial role in determining the value out of data. Volume aspect is one characteristic that needs to be considered while dealing with big data solutions.
2. Data Variety
Variety refers to various sources and all the structured and unstructured data that has the possibility of getting generated either by humans or by machines. Data in the form of emails, photos, videos, monitoring devices, PDFs, audio, etc. are also being considered in the analysis applications. This variety of unstructured data poses certain issues for storage, mining, and analyzing data.
Data velocity refers to the speed at which data is generated, distributed, and collected. The velocity rate is based on factors such as the number of sensors present on the Internet of Things. The higher the velocity rate, the faster the data can be acquired and processed, the more valuable the data collected will be, and the longer it will retain its value.
Data veracity refers to the quality of data that can be used for analysis. Big data must not just only be large in size but also must have reliability in order to gain value in the analysis. The quality of captured data can vary greatly, affecting the accurate analysis.
The importance of big data
The ability to processing Big Data brings in multiple benefits for the company. Companies that use big data effectively is having more advantages over those that don’t because they’re able to make faster and more informed business decisions. Here are the following benefits you get:
- Businesses can utilize intelligence while taking decisions
- Big Data are being used to read and evaluate consumer responses to improve customer service in the company
- Identificate of risk to the product/services in a earlier time
- Increasing the efficiency of company operational
- Cost saving and time saving
Big Data technologies can be used for creating a staging area or landing zone for new data before identifying what data should be moved to the data warehouse. In addition, such integration of Big Data technologies and data warehouses helps an organization to offload infrequently accessed data.