Big data refers to sets of data that usually relate to how people interact and behave. These data sets are extremely voluminous, include many different types of data and need to be processed at high speeds. Therefore, big data cannot be effectively handled using traditional methods of processing. Typically, big data requires new, computer based methods of analysis to identify underlying trends and patterns. Cloud computing enables businesses to store a large volume of data and carry out big data tasks effectively.
Making Use of Big Data to Benefit Your Business
Businesses can benefit from big data in a number of ways. For instance, effectively analysing big data can give businesses valuable insights into customer preferences. Furthermore, analytics programs can estimate the future sales of a product by analysing customer reviews, customer behaviour and past sales. Essentially, business owners can use the insights derived from big data to understand their business environment and product or service performance better.
These insights are derived from using computational programs to identify patterns in the data collected from sales records, market research, streaming data from real-time sensors etc. Big data analytics has become a key component in marketing intelligence and business technologies. However, businesses must be mindful about protecting customer privacy when carrying out big data projects.
The Big Data Event in Toronto
The big data conference http://www.bigdata-toronto.com/form_attending.html that was held successfully in Paris for 5 years was held for the first time in Toronto this year on the 14th and the 15th of June. The Toronto big data event was an extremely successful event that provided a platform for educating and inspiring people on the strategic benefits of big data from a practical perspective. The conference included an exhibition that featured many leading global companies and start-ups as well as product demonstrations and networking opportunities.
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