Big data has become one of the most popular business buzzwords in recent years, with many companies claiming to be leveraging their data to compete better and generate bigger profits. But what exactly is big data and how can it help your business grow? Here’s what you need to know about this burgeoning trend and its potential as a catalyst for your company’s growth and development.
What is big data
Big data is a term used for datasets that are so large or complex that traditional data processing applications are inadequate. Hadoop is a framework for reliably operating with massive amounts of data on computer clusters built from commodity hardware. This enables enterprises to operate on previously unimaginable scales and unlocks valuable insights into their operations and customers, as well as fresh opportunities to improve core business processes.
The benefits of big data for businesses
Big data is one of those catchphrases that gets thrown around a lot in articles written by tech sites, but what exactly does it mean? More importantly, how does it benefit businesses? Here are a few ways big data will help your company become more efficient.
Finding the right kind of strategy for your business
Before approaching any kind of analytics, it’s important to understand exactly what sort of strategy you need for growth. To do that, you’ll have to consider where your business is now and where you want it to go. Big data may not be a panacea for every struggling enterprise, but it’s certainly a good place to start.
Dealing with security issues
Hacking and other security issues are becoming more common, especially in areas such as healthcare, where keeping records private is a matter of life and death. Small businesses should take proactive steps to ensure their information is secure – and as many large corporations have learned (for example, Target), it’s better to be safe than sorry. Consider investing in a cybersecurity specialist or taking advantage of free resources such as Google’s Security Key for signing into online accounts.