The volume of user-generated data that is churned out through digital platforms has grown exponentially over the years. Internet Live Stats shows that Google receives over 47,000 search queries, 8,400+ tweets gets posted on Twitter and 1,664 photos get uploaded to Instagram, every second of the day; and that’s not even the tip of the iceberg! Data is ubiquitous – it is present in diverse forms. The challenge is to rein in these large blocks of unstructured data, deconstruct it, and finally piece together useful information that helps form meaningful insights.
Most businesses today pride themselves of being data-driven and some of them have even made data their business. So far these businesses have relied on Business Intelligence and Data Warehousingtechniques, which sought answers to predefined questions. Big Data on the hand is fundamentally different – it leverages larger volumes of data and provides flexibility in changing or refining the questions as you go along. It has the power to process datasets that are much larger than what traditional platforms can handle and therefore, Big Data analytics allows businesses to ask questions, understand behavior patterns and forecast trends…
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