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What is Big Data and how do you know if your company needs it?

What is Big Data? It involves handling large amounts of data, on a very large scale, that exceed the capabilities of conventional software and are captured, processed and stored according to this large feature. Big Data encompasses infrastructures, technologies and services where large amounts of different types of information are handled. Moreover, it is something very necessary in our world today because it is thought that over the years the data will continue to multiply, as a result of what is known as the digital revolution.

The 5 V's of BIG DATA

The five Big Data Vs were established to help define what this is about.

1. Volume

Big, or big in English, does not define a specific size of data. Rather, it refers to data that has grown so much that its storage, process and exploitation began to be a challenge for a given organization.

2. Speed

It is another characteristic of Big Data and is related to the rate at which the data is generated, which is usually constant and requires attention in real time.

3. Variety

It is one of the most important challenges of Big Data because most of this information is varied. It can consist of simple texts, images, videos, spreadsheets, and entire databases.

4. Truthfulness

Another very relevant aspect when it comes to Big Data is that the data must be reliable and truthful. If a large amount of data is mined for errors, it can be highly damaging, especially in decision-making that depends on it.

5. Value

Finally, Big Data must be an added value for the companies that handle this information.

Types of Big Data

The data can be classified into two categories, the first is according to its origin:

Web and Social Networks
Machine-to-Machine (M2M)
Transactions
Biometric
People generated
Generated by both public and private organizations

They are also classified according to their structure:

Structured: data that has its format, size and length defined
Semi-structured: data stored according to a certain flexible structure and with defined metadata
Unstructured: data without specific formatting, such as text files

What is Big Data for in companies?

Big Data is extremely useful for companies that handle a high volume of data, such as Amazon, Netflix and Spotify, to name a few organizations known around the world. Among some of the advantages that we can name is that of being able to obtain a better performance of business finances if Big Data is well managed.

In addition, you may be more likely to make better decisions than your competition and faster by being able to evaluate the information you have stored and make decisions based on it. The probability of executing decisions increases because you have an order in the face of chaos that can become a large database of information without form or order. Additionally, decisions made with databases are usually better and more reliable.

Big Data benefits

In addition to some of the things we mentioned earlier, Big Data has other huge benefits that businesses can take advantage of. These are:

Big Data technologies are agile and flexible.
They are scalable, that is, if you need to process more data, you can add more infrastructure to the process.
It is a fast and cheap solution since thanks to cloud-based solutions, you only pay for what you consume.

4. Many of the Big Data management applications available are Open Source, that is, their code is open and available so that any developer who wants to can access it.

5. You will be able to generate more income through cost savings, acquiring new clients and retaining existing ones. Correct data handling helps, for example, advance scientific research and gain a clear competitive advantage in the market.

Are you ready to enter the world of Big Data? The Cloud Group is your ally in this process and in much more than your business and digital brand needs. We hope that this article has been to your liking and, if so, share it and comment!