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The Age of Big Data

bakergoodchild bakergoodchild.co.uk 092014 # | HE AGE OF 20% BIG DATA 111010100010010 110010110010100 40% 11101010001001010010101110 11001011001010010101101101 BIG DATA WHAT IS BIG DATA? BIG DATA IS A GENERAL TERM FOR ANY COLLECTION OF DATA SO LARGE AND COMPLEX THAT IT BECOMES DIFFICULT TO PROCESS USING TRADITIONAL DATA PROCESSING APPLICATIONS. WHERE DO COMPANIES GATHER DATA FROM? A REPORT RELEASED BY IBM AND THE SAÏD SCHOOL OF BUSINESS AT THE UNIVERSITY OF OXFORD HAS FOUND ALMOST TWO THIRDS (63%) OF UK AND IRELAND BUSINESSES RECOGNISE THE COMPETITIVE ADVANTAGE ASSOCIATED WITH BIG DATA. SOME OF THE POPULAR SOURCES OF BIG DATA WITHIN UK BUSINESSES INCLUDE THE FOLLOWING: DO000 90% 72% 61% 56% 39% 37% 37% 28% BUSINESS TRANSACTIONS LOG DATA EMAILS EVENTS SOCIAL MEDIA GEOSPATIAL DATA RFID SCANS OR POS DATA SENSORS AMID THE PROLIFERATION OF REAL TIME DATA FROM SOURCES SUCH AS MOBILE DEVICES, WEB, SOCIAL MEDIA, SENSORS, LOG FILES AND TRANSACTIONAL APPLICATIONS, BIG DATA HAS FOUNDA HOST OF MARKET APPLICATIONS, RANGING FROM FRAUD DETECTION TO R&D. DESPITE CHALLENGES RELATING TO PRIVACY CONCERNS AND ORGANISATIONAL RESISTANCE, BIG DATA INVESTMENTS CONTINUE TO GAIN MOMENTUM THROUGHOUT THE GLOBE. $30B THE WORLDWIDE MARKET FOR BIG DATA RELATED HARDWARE, SOFTWARE AND PROFESSIONAL SERVICES IS VALUED AT $30B IN 2014. HOW IS THAT MONEY SPENT? A RECENT STUDY SHOWS BIG DATA ANALYTICS MARKET SIZE BY BUSINESS CATEGORY 16% 20% 20% 16% 28% REAL TIME ANALYSIS PRECISE OPERATIONAL INNOVATE BUSINESS MODELS CUSTOMER EXPERIENCE ENHANCEMENT MARKETING EFFICIENCY _A LOT OF DATA... 2,500,000, 000,000, 000,000 250,000, 000,000 90% OF THE DATA IN THE WORLD A REPORT CLAIMS THAT THE EVERY DAY, WE CREATE 2.5 QUINTILLION (2.5 BILLION BILLIONS, OR 25 WITH 17 ZEROS) BYTES OF DATA. TODAY HAS BEEN CREATED IN VALUE OF BIG DATA TO THE LAST TWO YEARS ALONE. EUROPE'S PUBLIC SECTOR COULD BE €250BA YEAR _ANDA LONG WAY TO GO ONLY 5% OF BUSINESSES IN THE 41% OF COMPANIES CITE A LACK UK ARE USING BIG DATA IN THE OF UNDERSTANDING OF HOW TO FULLEST SENSE. USE BIG DATA AS THE NO1 REASON FOR NOT USING IT. FOR BUSINESSES, ANALYSIS OF CUSTOMER DATA CAN HAVE A BIG IMPACT. A SOFTWARE PROGRAMME WILL TYPICALLY APPLY 125 DIFFERENT ALGORITHMS IN JUST 20 MILLISECONDS AND INCREASE SALES FROM 3% TO 10% BY DIRECTING THEM TO MORE RELEVANT PRODUCTS. BIG DATA Sources: IBM FORBES MCKINSEY GLOBAL INSTITUTE bakergoodchild bakergoodchild.co.uk URRENT YEAR O O O ridas# O O O vidas#

The Age of Big Data

shared by craigscott29 on Dec 03
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Big data is a complicated thing. It’s massive; every day 2.5 quadrillion bytes of data are produced, and that all needs to be sorted. But it doesn’t need to be something to shy away from. When it ...

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