The goal of big data is basically to improve the work processes of its users, by obtaining quick and valuable interpretations about market trends, consumer behavior and potential opportunities.
The results achieved using this resource reflect on the possibility for organizations to act effectively and ahead of the competition, thus being ahead in the market. In this way, corporate success tends to be more certain, considering the context of extreme competitiveness in the globalized world.
Knowing how big data works, as well as applying the resource to business, is a restaurant email list highly relevant criterion for achieving and maintaining leadership in the market. The tool is essential in the current corporate scenario and is based on volume, speed, variety, velocity and value. Find out more.
The 5 V's of Big Data
The basis of the large data storage resource is based on five criteria, or the five V's. They are:
Volume
Big data makes it possible to store a variety of sources, such as commercial transactions, social networks, and automatic data transmitted by machines or sensors. In the past, it would have been impossible to store this amount of information, especially when it came to strategic channels.
Speed
Data that is useful to organizations is available at a speed that is impossible to work with manually. Big data uses radio frequency identification (RFID), sensors, mobile devices and smart meters to deal with the speed of the computerized world.
Variety
Variety refers to the different formats and structures in which data is generated. There is important numerical, audio, video, text and even unstructured data that needs to be organized and studied according to the objective of each organization.
Truthfulness
The basis for veracity concerns human dynamics data recorded in navigation trails or social media interactions. Data catalogued in this way are understood as real interactions, and are therefore valid for big data.
Value
This is the most important basis for the tool. Big data has the ability to discern which data and information have the most value for the business, such as the most visited page, the one that generates the most interaction and the channel with the highest sales conversion. With this, the entrepreneur can identify the best investment focus to generate the greatest return for his/her business.
The combination of the five bases of big data then allows for a precise analysis of all public information, encompassing structured and unstructured data, such as content available in audio, documents, images and videos.
Understand the importance of big data
Big data is of utmost importance to an organization as, combined with analytics, it structures the information collected. In this way, the resource can be used to catalyze the achievement of objectives such as:
Identify fraudulent and imposture behaviors in advance of any damage that may be caused to the organization;
Find the origin of the organization's problems and failures in near real time;
Recalculate investment portfolios with incredible speed;
Create sales dynamics based on customer behavior.
The ability to store a significant amount of data can ultimately reduce costs and work time, rethink products and services with a focus on optimizing sales, and assist in more efficient decision-making. Big data makes it possible to execute macro strategies in a time and space that was previously unimaginable.
