This is why we at Scrummers want to give you some facts about it with two use cases from companies that have already implemented it.
What is Big data?
When we talk about Big Data, we mean the storage and analysis of large volumes of information that cannot be processed using conventional software tools.
The ability to process Big Data enables companies to make strategic decisions simply and effectively.
This concept contains different technologies that allow businesses to analyze several pieces of information such as structured data, which is its accountability; confused or information that comes from social media or e-mails, mobile phone signals or audio files, among others; and the semi-structured which is a combination of the previous two.
With the organization and study of this information, Big Data analysis allows reaching conclusions such as the user’s profile who visited a website their location or purchase preferences and needs.
Where does all that information come from?
The collection of this data comes from our daily interactions with technology as sending an e-mail, comment on Facebook, clicking on an Internet link or simply when we search on Google, among other activities.
To get an idea, in 2017 about 156 million emails were sent, more than 3 million Google searches were performed 46,200 photos were posted on Instagram and 1.8 million snaps sent through Snapchat
According to the Visual Networking Index from the telecom equipment manufacturer, Cisco, by 2022 these numbers will increase since they estimate that more that the global data traffic will increase by more than 50% and 77 hexabytes of data will be transmitted in a single day alone.
How does it work?
Big Data analytic tools get all the information that comes from any device, like those we use in our daily or some tools that send information autonomously.
Using specific algorithms, data wearhouses store this information, processing into reports that companies can use to make educated business decisions.
For example, Big Data collects a lot of information about dates, names of your clients, their ages and gender, among different metrics.
Then compiles it into tables so that a company can learn more about people’s behavior who are interested in a product or service; or can analyze information such as a business activity or people’s interest in social media to develop more effective business strategies.
What are the dimensions of Big Data?
- Volume: We talk about Big Data when volumes of information exceed conventional ones like Terabytes (1012 bytes) or Petabytes (1015 bytes).
- Velocity: Considering a large volume of data and that it’s ability to change rapidly, becoming obsolete. A Big Data specialist can analyze it and identify useful information quickly.
- Variety: Whether the data is structured, semi-structured or unstructured, the companies will be able to interpret the information through the reports produced by the data analysis.
- Value: Allows companies to collect, process and analyze data accurately and almost immediately.
- Visualization: Once the data is processed, it is compiled and detailed in reports, It they can be reviewed in a legible way to find common behaviors.
Some companies that have used Big Data for management, decision-making, and improvement of their marketing strategies and who have led to having excellent results are:
- Netflix: According to Ecommerce-News, this company was able to save on marketing studies when it began to analyze certain information such as the rating of its users with their preferences.For example, House of Cards was produced thanks to the use of algorithms that confirmed that people would like a series directed by David Fincher and starring Kevin Spacey, and preferred to watch series with dramatic, sensual, power and political content.
- Amazon: Through the analysis of large databases, this company has managed to establish strategies to increase sales, For example, if a person visits their website, and they are more inclined to find some products that fit their needs or interest. They will be presented with those matching their preferences first.
Our constant evolving culture has allow us to thrive based on sharing the knowledge we put into any of our projects by learning to be able to solve all your questions and needs. We want you to know the latest tech trends so you can excell at whatever business activity you work on.