BI Insights

Big Data Facts Highlight Its Trendsetting Surge

3 February, 2017

Big Data Facts Highlight Its Trendsetting Surge

As big data takes hold in the business world, the cloud enables small and mid-sized businesses to take advantage of the concept.

At its core, big data consists of large sets of information culled from various sources and then analyzed to derive statistical value. These metrics become particularly useful for measuring industries, humanistic tendencies, behavior and interactions. IBM’s Watson supercomputer, for example, is a cultivator of big data, as are the back-end analytics engines companies like Facebook and Google have access to.

Previously, such data collection was a mundane and particularly tedious task. In the late 1980s, a data analyst had an especially boring job. Archaic green-screen machines spit out seemingly endless spreadsheets that were riddled with errors — and required human oversight at all times.

These days, things are innately different. Big data has been made especially useful thanks to the cloud, the Internet of Things (IoT), social media, and other data gathering methods (think Google Maps, Apple Pay, Apple Watch, Fitbit and others). Large companies routinely sell or furnish this data to analyzing firms and think tanks, which then use it to determine and predict tendencies. Most commonly, big data is used by marketing firms to derive analytical patterns to create trendsetters in the digital hemisphere.

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