Companies have often strived to keep their operations lean and efficient. They use a variety of strategies to achieve such ambitious goals. These days, technology is lending those businesses a helping hand. How? By analysing what they do!
Big data is a fairly new concept that large corporations embrace. Today, it’s one that even smaller firms take advantage of as well.
Big Data: The benefits of digital number crunching
Just five years ago, analysing large data sets was a hard and time-consuming task. In some cases, it used to take companies months to analyze all kinds of information.
Today, it’s possible to make sense of “big” data in a much shorter time frame. How is that possible? The answer lies with both humans and technology.
Data experts have developed innovations in data mining and analytics. Those ideas get combined in both software and hardware solutions. Many big data solutions operate on a SaaS (software as a service) platform online. One notable example you may have heard of is Google Analytics.
The information that companies scrutinize doesn’t just come from single databases. Big data reporting and analysis can use a plethora of data sources.
For instance, the cars we drive have an electronic control unit. It analyses data from scores of engine and vehicle sensors thousands of times per second. Car manufacturers can use that data to improve their future vehicle designs. The result? They end up with more efficient models that appeal to their customers.
Big data also benefits companies in other ways. Take recruitment, for example. The rise of big data has meant that a new niche market got formed. It’s now commonplace to see jobs like Data Architects and Data Scientists advertised. Here’s how big data has impacted the IT jobs market:
Infographic Produced By computer science online program