The big data era may be signified by three Vs-data volume, velocity and variety. He argues that, in the future, using data will be commonplace-to the extent that we will simply have different types of data that can be used to further inform decision-making. However, one global IT/software industry CEO argues that the term “big data” will soon disappear, saying it is too broad, too vague and leaves a lot of marketers and executives failing to grasp the real meaning.
Utilisation of insights earned from vast amounts of information has created a huge impact on both social and business environments.
The combined effect of these global mega-trends has led to the so-called “era of big data”. The popularity of the communication base has exploded, due to huge advances in mobile technology, while further development has accelerated the ease of data gathering and data communications anywhere and anytime.Įxpanded cloud computing is making it easier for businesses to make bold moves in offering new data-based and information services, by lowering the bar for investment in data-processing centres. Social media has quickly become a regular communication platform for both individuals and businesses. Every industry-watcher and trend-follower stresses that the era of big data is here.
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