Big Data

What is Big Data?

“The Big Data is the combination of financial data, enterprise-wise data, whether internal or external to help organization explore new insights in business performance”.

Big Data is also described by the four Vs:

Volume

 The quantity of data which determines the value and potential insight.

Variety

The type and nature of data, such as text, audio and video will require additional resources to process.

Velocity

The speed at which the data is created, stored and analyzed to meet demands and challenges.

Value

Big Data adds value in performance which must be discovered.

How it Works

Manufacturing companies predict the optimal replacement cycle by monitoring data from their equipment to determine usage and wear. Financial services organizations segment their customer’s activity to accurately target individuals with relevant offers.

Why it Matters

Big Data describes information management strategy  to integrate new type of data with traditional one for

  • Gaining competitive advantage
  • Improved productivity
  • Bringing innovation by reducing time to response key business answers
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