Understanding the Impact of Big Data on Local Businesses
Keeping an eye on the current world status, the amount of data transmitted around the world is rising and is expected to reach a whooping 44 zettabytes by mid-2020. Large enterprise companies are contributing to this growing number. This disparate data is fed into integrating systems to convert them into meaningful sources so that AI can understand and manipulate itself through algorithms. This massive amount of data that suffice effective processing of information which then helps in taking better decisions for process automation by analysis of data is called Big Data.
Importance of Big Data Importance:
Data is one of the things which is created both actively and passively as the world moves ahead. Starting from data fed into computers or storage devices to the way we communicate all are data. Data analysis has been revolutionized after the innovation of Big Data as huge amounts of data is analyzed unlike old times. This data is then further studied to get insights about many things like marketing strategies, campaigning and ways to improve the products. The data not only provides insights for the present but, can also help in predicting the future. With more data collectability and accessibility, the way people do business would be drastically changed even for the smallest of businesses. This is getting more and more cost effective with the passage of time.