activated july 2016

BIG DATA

Big Data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it's not the amount of data that's important. It's what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves.

Big data analytics is the process of examining large data sets containing a variety of data types – i.e., big data - to uncover hidden patterns, unknown correlations, market trends, Customer preferences and other useful business information.

With big data, analysts have not only more data to work with, but also the processing power to handle large numbers of records with many attributes. Traditional machine learning uses statistical analysis based on a sample of a total data set however with Big Data you now have the ability to do very large numbers of records and very large numbers of attributes per record and that increases predictability.
The combination of big data and compute power also lets analysts explore new behavioral data throughout the day, such as websites visited or location.

NETWORKING THE FUTURE

WHY IS BIG DATA IMPORTANT ?

Can take data from any source and analyze it to find answers that enable cost reductions, time reductions, new product development and optimized offerings, and smart decision-making. When combine big data with high-powered analytics, can accomplish business-related tasks such as:

  1. Determining root causes of failures, issues and defects in near-real time.
  2. Generating coupons at the point of sale based on the customer's buying habits.
  3. Recalculating entire risk portfolios in minutes.
  4. Detecting fraudulent behavior before it affects organization.