Innovation Beyond Analytics And Big Data: What’s Next?

APR 01, 2021

In the global economy today, companies create and capture information in trillions of bytes from internal operations, transactions with customers, and suppliers. Networked sensor devices, often called the Internet of Things, like smart meters, smartphones, automobiles, machines, computer sense, create, and transfer unimaginably vast amounts of information. Humans too are generating big data available today from social media sites, consumer devices (such as personalized computers), and smartphones.

What is Big Data?

Big data refers to datasets whose size is beyond a typical database software’s ability to capture, store, manage, and analyze. There is no particular size threshold for data to be qualified as big data , such as a specific number of terabytes. The definition of big data varies with the sector depending on the capabilities of available software tools in a particular industry.

Big Data Analytics

Big data analytics involves analyzing and extracting the information systematically from large or complex big data using processing applications and software tools. It examines data to extract hidden patterns, correlations, systems, and other insights from big data. It helps businesses with identifying new business opportunities and increasing operational efficiency. Faster and better decision making are key advantages of adopting big data analytics.