Decoding the 3 potential advantages of big data

Data is omnipresent and in different forms. This data plays an important role for people as well as for large enterprises in making strategic business decisions. The information chunks thus become imperative for the survival of these enterprises in the competitive environment because utilizing the right information at the right time is what is expected to secure their places at the top. This huge chunk of information, or big data, helps these enterprises to keep a clear track of the information regarding their customers, products, environment and about themselves.

To begin with, big data is large chunks of structured and unstructured data. It is so big that normal data processing techniques don’t work with it. It has been given the name of big data due to the 3Vs: volume, velocity, and variety. Big data has been present in the industry for quite some time now and enterprises now understand that if they capture this data and utilize it by pumping it into the systems they could extract significant business value from the same. When certain big data companies have huge volumes of data at regular intervals, it becomes imperative for them to analyze the same and utilize it for profitability.

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