What is Big Data?
Big Data refers to a collection data sets too large and complex to process for the normal person. Let’s say a mid-sized business requires access to 10,000 files on a company file server ranging from PDF, Word, and marketing slicks. How much bandwidth are you using to access these files? How often do employees fetch files? Is it periodic? What types of files are they accessing?
Why does Big Data matter?
The expansion of the internet demands predictive analytics to uncover hidden patterns. Big data can help businesses make sound decisions with data sets such as transactions, clicks, activity reports, and even call records.
Big Data is difficult to categorize. To briefly summarize Big Data, here are 3 main categories:
- Data Velocity – When is data being accessed?
- Batch, Periodic, near Real Time, and Real Time
- Data Variety – What formats are they using?
- Tables, Data base, Photo, Audio, and Video
- Data Volume – How much are they using?
- MB, GB, TB, PB
The ineffective use of data can also be a factor:
- Wasted time that could be spent in other areas of the business
- Inefficient or slow decision-making /Lack of agility
- Internal confusion over priorities
- Reduced margins due to operational inefficiencies
- Inability to effectively assess staff performance
With the help of data analytics businesses can re-evaluate their IT spending habits with a solid business case.
Information Technology Glossary
Office 365 Advisors Glossary
Below here we have an additional glossary from our partner site Office 365 Advisors.
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