Why is Big Data important?
Posted: Tue Jan 21, 2025 9:34 am
We all need to be increasingly prepared for Big Data, because of the technological challenges it entails and the often intangible effects it will have on the way we work and live.
*Based on: “Big Ideas Descriptive Video: Why is Big Data Important?”
The digital universe has been developing for a long time; one could say since 1948 when Claude Shannon created the word byte to name the measurement of a unit of information.
Today, the digital universe, which IDC estimated to be about 1.2 billion in 2011, will grow at a rate 44 times higher during this decade. While this is undoubtedly a really big achievement for Big Data , one question still remains: why is Big Data important ?
Big Data is important not only for the technological challenges philippines phone number lead it entails, but also for the often intangible effects it will have on the way we work and live.
Big Data is important for three very simple reasons, which are closely related:
1º NEW DATA | The Big Data that is generated, collected and stored today contains an enormous amount of information that was previously simply not available and was totally unknown to us.
Most Big Data data contains new content. An example of this is data related to the world of e-commerce. Gone are the days when websites were dedicated to capturing transactional data, such as purchase details, to improve demand calculations, stock optimisation and price adjustments.
Today, e-commerce companies focus on capturing the clickstream that customers take during a transaction. They capture the path we take before completing the transaction or before abandoning our shopping cart. This data includes tangible consumer information such as the styles, colors, and sizes they are looking for.
But now, more importantly, it also captures the information that the consumer consulted during the process; for example, the opinions and ratings that other consumers made of the product, the sustainability of the manufacturing process and the availability of other complementary elements.
Clickstream analysis aims to better understand human purchasing processes in order to adapt our future shopping experiences and, of course, to improve our purchasing productivity.
2º UNLOCKING VALUE | The value contained in Big Data can be discovered through its automatic analysis, since Big Data is digital data. Data analysis has the amazing ability to transform data into new information, which can lead to taking intelligent actions.
Big Data alone is not the only reason why it is important. All of this data must be analyzed to reveal the value it contains.
Business Intelligence (BI) searches the entire transaction history of a database to generate reports, model trends, and provide statistics on system performance. Big Data not only expands the amount of data currently available for BI but also adds an unprecedented level of complexity that pushes the boundaries of analytics.
3º SHAPING THE FUTURE | The type, depth and sophistication of analysis that can be performed today and in the near future may allow us to be much more proactive. This influences how the future is shaped as opposed to merely reacting to the unintended consequences of the past.
The type of information contained in Big Data has also allowed us to make some leaps forward, replacing simple modelling of the future based on the continuum of its history with true prevention and influence on future actions.
*Based on: “Big Ideas Descriptive Video: Why is Big Data Important?”
The digital universe has been developing for a long time; one could say since 1948 when Claude Shannon created the word byte to name the measurement of a unit of information.
Today, the digital universe, which IDC estimated to be about 1.2 billion in 2011, will grow at a rate 44 times higher during this decade. While this is undoubtedly a really big achievement for Big Data , one question still remains: why is Big Data important ?
Big Data is important not only for the technological challenges philippines phone number lead it entails, but also for the often intangible effects it will have on the way we work and live.
Big Data is important for three very simple reasons, which are closely related:
1º NEW DATA | The Big Data that is generated, collected and stored today contains an enormous amount of information that was previously simply not available and was totally unknown to us.
Most Big Data data contains new content. An example of this is data related to the world of e-commerce. Gone are the days when websites were dedicated to capturing transactional data, such as purchase details, to improve demand calculations, stock optimisation and price adjustments.
Today, e-commerce companies focus on capturing the clickstream that customers take during a transaction. They capture the path we take before completing the transaction or before abandoning our shopping cart. This data includes tangible consumer information such as the styles, colors, and sizes they are looking for.
But now, more importantly, it also captures the information that the consumer consulted during the process; for example, the opinions and ratings that other consumers made of the product, the sustainability of the manufacturing process and the availability of other complementary elements.
Clickstream analysis aims to better understand human purchasing processes in order to adapt our future shopping experiences and, of course, to improve our purchasing productivity.
2º UNLOCKING VALUE | The value contained in Big Data can be discovered through its automatic analysis, since Big Data is digital data. Data analysis has the amazing ability to transform data into new information, which can lead to taking intelligent actions.
Big Data alone is not the only reason why it is important. All of this data must be analyzed to reveal the value it contains.
Business Intelligence (BI) searches the entire transaction history of a database to generate reports, model trends, and provide statistics on system performance. Big Data not only expands the amount of data currently available for BI but also adds an unprecedented level of complexity that pushes the boundaries of analytics.
3º SHAPING THE FUTURE | The type, depth and sophistication of analysis that can be performed today and in the near future may allow us to be much more proactive. This influences how the future is shaped as opposed to merely reacting to the unintended consequences of the past.
The type of information contained in Big Data has also allowed us to make some leaps forward, replacing simple modelling of the future based on the continuum of its history with true prevention and influence on future actions.