Double your business profit with these features of Big Data

Big data, a business technology used to understand the profile of a business, needs and feelings of customers with respect to the selling of products or services, allow professionals to adapt their strategies while interacting with the clients.

As per the Big Data training in Bangalore, the most important features of big data are defined in terms of 5 magnitudes or 5 V’s of big data. Not all companies will opt for the same methodology regarding development and creation with big data technologies. However, there is a possibility of using these technologies in all sectors to enhance decision making and performance in the market. 

Big Data features:

Tremendous the volume of Data:

The concept of volume is very variable and every day that passes we rise what we can consider as large volumes of data. However, when talking about Big Data it refers to volumes that exceed the capacity of conventional software, so that the data cannot be handled and managed. In general, when talking about large volumes, it is about Terabytes or Pera bytes, so Big Data projects allow including highly detailed and specific information that, to date, was not used because the technology could not process them in a reasonable time.

Data Speed:

It refers to the speed with which data is received, processed and decisions made from them. For most traditional systems it is impossible for them to immediately analyze the large volumes of data that reach them. However, with the use of Big Data systems it is possible and even, real-time measurements can be made, depending on the needs or demands of each type of company and thus, offer personalized offers, meet some requirement or difficulty instantly or simply measure the pulse or impact of products and/or services with respect to market demand.

Big Data

Variety of the Data:

The variety has to do with the possibility of having data on the same reality through different perspectives. For example, if we evaluate the purchases of a customer not only with the final information of the amount spent on the purchase, but also with a map of their movements at the point of sale and with the facial and body expression of the client during the development of the purchase, we would have an important potential to take effective measures that improve that volume of purchases in the future. The possibility of crossing these data also with those that come from external sources such as temperature, day of the month or week further increases the variety.

Truthfulness:

Truthfulness is perhaps the most difficult characteristic for companies to detect. It is about having data that faithfully reflect reality. Many companies have made the wrong decisions based on data conclusions that seemed appropriate and were not. Satisfaction questionnaires that are only answered by satisfied customers, data collected by applications that are only in the mobiles of a population group with a certain age or interest characteristics, or false news are just some examples of data not truthful that could lead to erroneous conclusions.

Data Value:

The value is relative, that is, the importance of the data will be given to each business, its objectives and the strategies it applies to the measurement. For example, knowing what data is to be analyzed is essential for a company and will greatly define the usefulness of the Big Data tool.

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