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Leaders in every industry need to start dealing with the implications of big data; it’s not just the data-oriented members of your team. With the increasing volume and detail of information that’s coming through due to all the content being producted on the Internet, along with the rise of multimedia and social mediathere is an exponential growth in data that can and needs to be harnessed. For those of you who are unaware of big data is or are just now looking at how it can be used to add value to your business, it’s important to understand the basics of it first.
What is Big Data?
Big data is a compilation of data sets that are so large they are impossible to process accurately utilizing traditional on-hand database tools and applications. Many business owners need to be able to capture, curate, store, search, share, transfer, analysis and visualize all their information — all of which they are unable to do unless they have specific software services to assist them.
The world has an enormous amount of data, 90-percent of which was created only in the last decade. So much data is created that studies have shown that 2.5 quintillion bytes of data are created daily. That means 2,500,000,000,000,000,000 bytes of data are created.
How Does this Affect My Business?
The reason data has increased so vastly in the past years is due to business records and transactions. Your business, like so many, might find yourself creating large sets of data that become physically impossible to sort.
For some businesses, hundreds of gigabytes might be the point when regular management software tools become invalid and, for others, it could be several tens or hundreds of terabytes before it becomes inoperable. Either way, the overwhelming number of data affects eventually many major enterprises such as Google, Facebook, Amazon and other companies.
How Can Big Data Help Me?
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This is a re-post article from Iconic Mind Blog.
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