Significant Value: Big Data

Significant Value: Big Data

We live in a world increasingly driven by data. Big data is a term that describes the large volume of that inundates a business on a day-to-day basis. But it’s not the amount of data that’s important. It’s what organizations do with the data that matters.

Big data can be described by the following characteristics:

  • Volume

The quantity of generated and stored data. The size of the data determines the value and potential insight- and whether it can actually be considered big data or not.

  • Variety

The type and nature of the data. This helps people who analyze it to effectively use the resulting insight.

  • Velocity

In this context, the speed at which the data is generated and processed to meet the demands and challenges that lie in the path of growth and development.

  • Variability

Inconsistency of the data set can hamper processes to handle and manage it.

  • Veracity

The quality of captured data can vary greatly, affecting accurate analysis.

Big data can unlock significant value by making information transparent and usable at much higher frequency and help you start benefiting from day one. At OREDATA, we provide end-to-end solutions and services in big data and analytics that enable you to become a data-driven business…one that’s positioned to increase revenue, improve efficiency, and create the most compelling experience for your customers.

Founder and CTO, Silicon Valley Data Science 

“Big Data” refers to a combination of an approach to informing decision making with analytical insight derived from data, and a set of enabling technologies that enable that insight to be economically derived from at times very large, diverse sources of data. Advances in sensing technologies, the digitization of commerce and communications, and the advent and growth in social media are a few of the trends which have created the opportunity to use large scale, fine grained data to understand systems, behavior and commerce; while innovation in technology makes it viable economically to use that information to inform decisions and improve outcomes.

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