The Data Revolution
Data has evolved to become one of the most important assets for any organisation
We have witnessed a global explosion in machine-generated and human-sourced data. E-commerce, Mobile-commerce, remote working and almost every business across the globe, however large or small, are requiring some form of digital interaction. IBM advise us over 90% of the world’s data has been created in just 2 years with 2.5 quintillion (18 zeros!) bytes of data generated every day.
This data revolution has taken “Big Data” and made it ‘Bigger’ ….it’s size, diversity and complexity is one of the biggest and most exciting opportunities facing businesses today.
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However, with less than 0.5% of Big Data being used for analysis and according to Gartner, as many as 85% of Big Data and machine learning projects failing to produce any ROI, it’s clear that benefiting from the Big Data opportunities remain a considerable challenge for most organisations.
Structured Database Data
Unstructured Big Data
Customer
Details
Product
Details
Transactional Details
External Demographics
Website Logs
Text Data
Voice Data
Audio & Visual Data
Social Media
Sensors
GPS
Using Big Data
Data Strategies Consulting view Big Data as a way of complementing traditional structured relational databases and used in the right way, provides an excellent opportunity to gain further rich insight. The key advantage comes from understanding both data sources, appreciating the relative merits of each and using the right tools to answer the right questions.