Big Data has taken a huge role in art in creating today’s Technological Revolution. It is a phrase coined to describe the exponential volume of data we currently hold. Data is collected from a number of sources including cell phones, applications, databases, servers, etc. In return, it can then be used to find trends, patterns, and connections specifically related to how humans behave along with their interactions. This information includes likes, dislikes, preferences, and search and buyer history and is not limited to personal data such as birthdate, social security number, home address, and much more. Corporations across the globe have found new ways to use this data in everyday business functions. The collection of Big Data can be used to a company’s advantage in marketing, finance, and Government. Despite the fact that in a few situations Big Data can be hard to control, it can possibly enable organizations to Continue reading
Big Data
What Is Big Data?
Around the late 1990s the term “Big Data”, was launched at the Silicon Graphics Inc although it did not become a massive buzz word until 2011. Big Data can be defined as a term, used to described the huge datasets, which consist of both structured and non-structured data. These data sets can be very complex, however with techniques and various types of tools, this can enable the collecting, storage, cleansing, extract of the data to be analyzed. The analyzed data can offer great benefits to various types of industry. There is a massive market for companies for all types of industries to know what people want. For example, the television company might what to know what types of programs people like to watch? This means the company could stream the data from a live feed such as Facebook or twitter. As the internet, has grown people are now communicating at Continue reading
Application of Big Data in Retail Industry
Information technology is evolving rapidly, and now we are living in the artificial intelligence (AI) age which is considered a smart society where Internet of Things (IoTs) connecting to intelligent devices. Thanks to the advances in technology, retail is among the industries that are most affected by digital transformation. With this transformation, the consumer is changing their shopping experience and behavior from seeking products or shops, comparing, reading reviews to in-store, online and finally writing reviews, contacting customer service. The growing demands of modern consumers for excellent shopping possibilities gives the modern retailer room to innovate and understand shopper’s behavior better in response to the need of modern consumers. Retailers are dealing with a quickly changing retail landscape and newer competitive threats due to the new and improved changes in technology. To address these changes, retailers are now using big data solutions to collect massive amounts of data to gather Continue reading
Why is Big Data so Important in Today’s World?
In the ever-changing, globalized economy, companies have started depending on assessments advanced by their internal processes, business operations, and customers to explore new opportunities for advancement and growth. Such insights present a massive intricate set of data that are produced then managed, analyzed, as well as manipulated by experts. The collation of such a large amount of data is collectively referred to as big data. The numerous peta and terabytes are presently considered as the big data benchmark. The main characteristics which describe big data include; volume which refers to the amount of produced and stored data that determines the potential and the value of the insight and if it can truly be assumed as big data or not. Secondly, the variety referring to the nature and type of the data to assist the data analyst to successfully use the subsequent insights; Velocity refers to the speed that determines how Continue reading
Data Analytics in Retail Industry
Data acquisition using the Internet of Things (IoT) in the retail industry is one of the most important innovations in increasing the amount of relevant data that can be collected during a customer’s visit. Analyzing the behavior of a customer during an in-store purchase using sensing devices can reveal a customer’s interests and choices. Using a number of sensing devices, the in-store customer behavior is captured, pre-processed, and then transmitted over a wireless network to the cloud. A data analytics model built with fuzzy logic is developed to generate the data of a customer’s purchasing intentions. This approach will help retail stores to recommend products to customers and guide supply chain planning. Such an approach allows retailers to gain more sales thereby increasing their market value. The increase in the amount of data available due to the advent of automation, new technologies, and standards have made the decision-making process in Continue reading
Why is Data Analytics Important in Healthcare?
Do you know about data analytics? These data analytics allow for an industry to obtain any insights from patters and connections that are found so they can make better decisions. Businesses are able to achieve multiple advantages by using these statistics. Analytics help find meaning in real-time or historical data so there can be prediction made about the future to improve the probability of success. Due to the healthcare industry using data analytics they will be able to benefit their business by improving patient care quality, improve operational efficiency, and prevent diseases. Every business is curious on how they can make their operations better whether it’s for money savings or for the care of patients. Using analytics will allow for the improvement of operational efficiencies. The ERP systems allow for them to collect all the information that they want to include in their statistics. Analytics allow for businesses to find the gaps Continue reading