Delta Data Services LLC

What is Big Data and Why Its a Big Thing?

Delta Data Services LLC
08.14.22 12:46 PM Comment(s)

What is Big Data and Why Its a Big Thing?

Big data means huge complex structured and unstructured data sets that are frequently produced and transmitted from a wide variety of sources. These attributes make up the three Vs of big data:   

  1. Volume: The enormous data being stored.
  2. Velocity: The lightning speed at which data is analyzed and processed
  3. Variety: The different sources and forms from which data is collected

Why is big data important?

Businesses use big data in their processes to enhance operations, provide improved customer service, develop marketing strategy and take other actions that, ultimately, can increase business sales. Businesses that use it strategically get a competitive edge at those who don't use it because they're able to make more data-based decisions.

    Here are some more examples of how big data is used by organizations:

    • Big data uplifts oil and gas corporations in the energy sector by helping them locate suitable drilling sites and keep an eye on pipeline activity.
    • Big data platforms are used by financial services companies for risk management and in-the-moment market data analysis.
    • Big data is used by manufacturers and transportation firms to manage their supply networks and improve delivery routes.
    • Emergency response, crime prevention, and smart city program are further government uses.

Benefits of big data:

Despite the numerous benefits of big data and analytics, there are still many untapped possibilities in the data world that remain to be explored. As businesses look to exploit the power of big data, there is a high demand for professionals with data analytical skills who can boost the organization as well as their careers.   

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