In recent years, big data has been among the concepts frequently heard by those interested in technology. Big data that being contributed to the growth and development by every individual using the Internet; the data obtained from research, search engines, blogs, forums, social media and many other sources are called meaningful and processable form. As GTech in this article, we have touched on the issues people are curious about big data.
How Is Big Data Used?
Big data contributes significantly to firms’ ability to make right decisions and develop strategies by examining customer behavior. After the available data are turned into simplest and most processable data, the relationship of such data with each other is examined using the comparison method and the connections between them are revealed. In this way, it is possible to predict the results of the decisions to be taken. With the simulations created by changing the location of various points in the data, reactions to different decisions can be seen.
Thanks to Big data analytics, organizations can accurately evaluate data based on real customer behavior and turn it into a high-benefit tool.
The Importance of Big Data
Since big data is based entirely on the analysis of real data, it allows making the right decisions in many different areas such as reducing costs, spending advertising on the right channels, saving workforce and developing products that meet expectations.
Uses of Big Data
Big data can be used in all areas, especially in areas such as banking and retail industry, where customer behavior is very important and needs to be followed. In recent years, the importance of big data has been understood by governments and started to be used in various fields. In the field of health; big data is used for early diagnosis of diseases or drug development can also be used to prevent crimes or to make improvements in the education system.
What Are Big Data Components?
Big data consists of 5 main components.
- Variety: Most of the data produced have different formats from each other. Data from phones, tablets, computers; different operating systems or languages cause different formats to emerge.
- Velocity: Technological possibilities increasing day by day cause the amount of data obtained, the number of transactions to be made and diversity to increase in the same way.
- Volume: In the last 10 years, the amount of data has increased more than 40 times, but the expenditures for data storage have increased 1.5 times. This situation reveals that a very good editing is required for the correct and efficient storage of the obtained data.
- Verification: Another issue that has come to the fore regarding data in recent years is data security and accuracy. Who will display the obtained data and under what conditions, and which of these data should be kept confidential are issues that need to be carefully studied.
- Value: The most important component of big data is value. The data obtained and processed is meaningful as long as it adds value to the organization. For this reason, it should be prioritized that the analysis and simulations of big data are set up correctly and benefit the organization using big data.
If big data is constructed and used correctly, it provides significant benefits in the decision stages of companies and provides them with competitive advantage. Companies that are aware of this situation, benefit from big data in many areas such as marketing, sales and production.
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