How Big Data Solutions Inform Big Business Decisions

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How Big Data Solutions Inform Big Business Decisions
Exactly how big is big data? Microblogging platform Twitter sees almost 340 million tweets on a daily basis. Every second, ten thousand people use their credit cards one way or another. Where does all this information go and how is it stored? All over the world, almost three exabytes are created every day. It sounds like a small number but if you think of a single exabyte as one billion gigabytes, you’re in for a treat. Big data is beyond what you are thinking.

Exactly how big is big data? Micro-blogging platform Twitter sees almost 340 million tweets on a daily basis. Every second, ten thousand people use their credit cards one way or another. Where does all this information go and how is it stored? All over the world, almost three exabytes are created every day. It sounds like a small number but if you think of a single exabyte as one billion gigabytes, you’re in for a treat.

As institutions, governments and businesses utilize more of technology in paperless filing and work management systems, data begins to accumulate exponentially. This creates problems in data storage, processing and transfer. To properly capture, analyze and manage the massive amount of data, big data solutions are crucial. Databases, spreadsheets and other software tools are simply not enough, especially if a company is about to undertake a major project or management move. What exactly can these solutions do for businesses and how can these be used to make better business decisions?

How Big Data Solutions Inform Big Business Decisions

Big data services collect and make sense of data

There are different types and sources of data. Everything from banking, politics, science, sports and retail has its own data sets that, in their raw form, are basically useless unless they are made sense of and analyzed. Data comes in two forms: structured and unstructured. Spreadsheets may work for structured data but companies will benefit more from solutions that are developed to handle both forms.

The right tools for the job

Large volumes of data cannot be poked at with a toothpick. Data analysts need a full arsenal of tools to help them undertake more accurate analyses in less time, which can help companies make more informed decisions. Traditional data processing applications and database management tools just don’t cut it when dealing with thousands of exabytes coming in from multiple sources. Analyzing big data demands a lot of resources in order to be able to discover business trends and patterns of consumer behavior.

Big data solutions provide insights

The key to making good business decisions lies in knowing what the current situation is and seeing where the industry is headed.

What are the kinds of information businesses require?

Product usage trends, consumer preferences and behavior patterns and location data are just a few of the data sets that have within them a wealth of insights that, when tapped, can be the best resource any business can have.

ALSO READ: Big Data Management: Steps to Manage Big Data in the Cloud

Big data solutions are able to collect, analyze and interpret data to come up with an infinite source of knowledge that can be used in a company’s decision-making process. What products or services do consumers use most of the most during the Holidays? What do Twitter users rave about in the mornings? Knowing the answers to these questions may help businesses decide what next to do in their marketing plan and social media strategy. In addition, the insights garnered from big data analysis can be used to improve products and services.

Using big data provide companies with myriad opportunities for business development. In order to take advantage of what big data can offer, companies should see big data solutions as a wise and long-term investment. After all, it’s not how large the volume of data is but what companies do with it that really counts.

For discussion on this subject, Big Data Solutions and its benefits for your business, please make use of the comment box below.

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Olawale Daniel is a business builder and psychologist, a network marketing professional, a world-class motivational speaker, a successful internet entrepreneur and a digital media strategist interested in all things mobile and digital — start-ups, media, branding. He started TechAtLast back in 2010 as a platform to quench his thirst for latest technologies. As a motivational speaker and author, Olawale has published several motivational and personal development books and he's currently working on "SUCCESS AHEAD - Don't Quit" which is billed to hit the stand by Q4 of the year. He writes regularly on his personal website on motivation and personal lifestyle and tips for network marketing success, OlawaleDaniel.com. His latest book on How to Sponsor More People in Your Network Marketing Business is still one of the best sellers in its category. He's presently working as a Health and Wellness consultant at BURN SLIM TRIM Inc., a firm that helps people regain their perfect lifestyle through state-of-the-art recent discoveries way back from nature. He's also the brain behind FOBCourse, a business university for startup entrepreneurs in Africa.

11 COMMENTS

  1. Awesome data you provided for us. Thanks plenty. Cloud is that the future and that we to be a part of it currently.

  2. Certainly after analysing big data you become more confident for taking decisions which might impact your business in near future.

  3. Ya, you’re right, Olawale. The key to making good business decisions lies in knowing what the current situation is and seeing where the industry is headed!! I;m glad that you have covered all the important points here. Thanks.

  4. how big data solutions inform big business decision If our data is big for our business so it helps to the expansion of business and it makes decision making for big business.These all is helpful in the future business expansion and it will bring good impact in our business. so this will help at the time of big data in business.

    Thanks for sharing

    paridhi

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