What is Big Data?
Currently more data is collected in 10 minutes than mankind has collected in nearly 2,000 years. Data is one of the most valuable raw materials of the 21st century, which must be lifted and processed ... and Big Data is the right tool for this.
Big Data Definition
Big Data is one of the most widely cited terms in business, marketing and the IT industry. There are various explanations and interpretations of the concept meaning.
The concept of "big data" does not adequately explain the collection and processing of quantifiable mass data. Big Data is the attempt to master the flood of data analytically and to use the results for complex queries and fine-granular forecasts in economic, social and, last but not least, political life. It is the art of dealing with these mass data and developing useful applications.
Identify big data trends and develop strategies
For companies, Big Data today offers unimagined opportunities. With new analysis tools, new markets and business models as well as new products and services can be developed. Through the collection of mass data, development trends can be predicted, trends can be identified and action recommendations can be worked out. Behavioral patterns can be identified to present products and services to customers exactly when they are currently needed.
Those who know their target group has a clear competitive advantage. because they are aware of their desires and needs, which intentions they pursue, and which trends are to be expected in the near future. This is why companies are increasingly collecting data on markets, suppliers and business partners - and of course about their customers.
Data sources and tools for Big Data
Where does the data come from?
The sources of structured and unstructured data for Big Data are barely manageable, and with the increasing networking and the growing use of mobile Internet applications, new data sources are constantly being added.
In addition to the diverse information gathered in ERP and CRM systems for online shopping, mobile phone companies, health insurance funds or service requests from dealers and service providers, also social media platforms are important data sources. Pictures, videos, postings and all activities provide valuable information about the person, the environment and much more.
In addition, there are movement and location data of sensors and RFID chips that originate from location-based services, log data from IT systems, web page calls or search queries. The Internet of Things and the Increasing Machine-to-Machine Communication (M2M) in a networked world also provide a wealth of data that can be collected, analyzed, processed into a comprehensive profile, and built as a foundation for individual, user-tailored offers.
Big Data analysis tools in the cloud
Companies facing the explosive flood of data are looking to analyze and process them in order to draw conclusions about their own actions and the strategy of the company. There are not only big companies that deal with Big Data. Increasingly, small and medium-sized enterprises are also recognizing the opportunities that Big Data has to offer and are looking for the right tools for working with such large amounts of data.
Cloud Computing provides the solution
Increasingly larger and better computers and memories are now able to capture the rapidly growing number of data and to evaluate them using algorithms. But the purchase of such computing technology and the necessary storage systems is very unprofitable.
Virtualized IT infrastructure, as provided by cloud hosting providers, provides the ideal work environment. With IaaS solutions, powerful, scalable data centers can be compiled to better capture data, more accurately analyze, and deliver faster results. Thanks to the scalability of the individual resources and often even minute-accurate billing of the capacities used, Cloud Computing provides the ideal and cost-effective platform for using Big Data in small and medium-sized enterprises.