Skip to main content

BIG DATA! WHAT IS IT?


THE CONCEPT OF BIG DATA 
Back in the time Sir Francis Bacon quoted that "Knowledge is power". Breaking down this quote in the modern world it can be termed as information is power hence, too much data can never be used as a basis for decision making (Paraschiv and Danubianu, 2019). 

The last era has seen a huge technological development which brought in a lot of data within itself following with data collection and storage. Also, we can say that the entire society is clouded with binary numbers the 0's and 1's. 

With a variation of data collected from different data points such as transactions, sensors, streaming and social media, introduced a new and convoluted data types whose storage and processing was now a huge challenge for traditional databases. Hence, the concept of Big Data came into existence. 

THE DEFINITION OF BIG DATA 
Now from the above discussion we understand how the concept of Big Data came into existence so let us talk about the definition. Big Data is an evolving subject which has a direct relation to the large volume of data collected. Now, this data when collected can be categorized as structured and unstructured data, the manipulation of which goes beyond the capacity of traditional database management systems to collect, store, control and analyse. In fact, "Big Data implies the existence of a set of features known as Big Data Vs". The primary and most known features are those in-relation to the data volume, variety and velocity I.e. the 3 V's (Lukosius and Hyman, 2019) which we will discuss in my next Blog. 

BIBLIOGRAPHY
Paraschiv, A.M., Danubianu, M., 2019. BIG DATA - Present Opportunities and Challenges. BRAIN: Broad Research in Artificial Intelligence & Neuroscience 10, 15–21. 

Lukosius, V., Hyman, M.R., 2019. Marketing Theory and Big Data. Journal of Developing Areas 53, 217–228. 





Comments

  1. SCSFebruary 5, 2020 at 9:37 AM

    This is a brilliant peice of work Saurav! Well done

    ReplyDelete
  2. LeonardFebruary 7, 2020 at 4:30 AM

    Excellent for beginners to understand

    ReplyDelete
  3. AshFebruary 7, 2020 at 9:51 AM

    Well documented and nicely presented Saurav. It is almost impossible for a business to take a profitable decision for its growth without analysing relevant data from the past.

    Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway.” – Geoffrey Moore

    Looking forward to your next blog!

    ReplyDelete
  4. Colin AlmeidaFebruary 12, 2020 at 8:37 AM

    Nice blog, well written.

    ReplyDelete
  5. SushFebruary 25, 2020 at 3:04 AM

    Great work

    ReplyDelete
  6. AvanishFebruary 25, 2020 at 4:02 AM

    Amazing ! Just loved it. Good work Saurav

    ReplyDelete
  7. Dylan O'ReganFebruary 25, 2020 at 5:57 AM

    Superb blog Saurav with some great and valuable insights. Well done

    ReplyDelete
  8. vardan aroraFebruary 25, 2020 at 1:04 PM

    Very well explained!

    ReplyDelete
  9. Mariel MontenegroFebruary 25, 2020 at 3:32 PM

    Really informative and nicely written work. Thanks.

    ReplyDelete

Post a Comment

Popular posts from this blog

GOOGLE ANALYTICS OVERVIEW

In this final blog let us discuss the Analytics of my last 5 blog topic. Here we will discuss an overview of the last 6 weeks. AUDIENCE OVERVIEW On the above chat we can see that the number of users viewed the website was 24 and the number of times users visited the website is 89 which is called sessions. Thereafter, the number of times the users visited different pages on my website, which is termed as pageviews is 510 following with 06.52 average watch time on my website and a 32.58% bounce rate which means the users exiting the website immediately after visiting the site. ACQUISITION OVERVIEW The Acquisition overview gives us a clear overview of the overall traffic for the website. On the above chart we can see that most of the traffic came from social media which is 45.8% and the second most is 35.4% which came directly by sharing the URL. Surprisingly 14.6% came from referral which means users coming to my website form other website and 4.2% being organi...
Post a Comment
Read more

ARTIFICIAL INTELLIGENCE IN MARKETING

Let us talk about AI in Marketing in this blog. Artificial Marketing is about optimising consumer data and AI like machine learning, is about enhancing and predicting the next move of the consumer and act accordingly to move down the sale funnel of customer buying journey (PricewaterhouseCoopers, “Consumer Intelligence Series.”. 2020) . With the use of Big Data and Analytics the marketers are able to build a clear target audience and map a better buyers journey. Marketers can also enhance/ boost and make changes to campaigns and measure the ROI. Well this a small overview of AI in Marketing but let us discuss a little further. Some of the core AI Marketing are: Big Data – As discussed above Big Data has an overwhelming opportunity for marketers and giving them an opportunity to deliver the right message to the right person with different contents for different target audience. Machine Learning – This intelligence provides marketers with the opportunity to analyse tr...
35 comments
Read more