Big Data: Make smarter decisions for your business

What's Big Data?

The concept of Big Data is a set of processes that bring together a large amount and variety of unstructured data from various sources that have an impact on a business's daily life.

It can be used to gain insights into the current performance of a company for its own benefit and simultaneously enables predictions to be made about future developments based on past history.

Big Data keys

Big Data is like a main base where a giant amount of information is concentrated and its operation relies on three keys:

Integration

When developing a strategy it is important to consider the business goals, initiatives, existing and future technologies of a company. Collecting and integrating a business's data is only the first step.

For businesses looking to make use of Big Data, one of the biggest challenges involves integrating the data into their systems. This is because the existing data in Big Data needs to be filtered, and for this it is essential to create a connection with system integrations such as ERP's (Integrated Enterprise Management System), API's (Application Programming Interface) or CRM's (Customer Relationship Management) in order to later manage and analyze it.

Management

In a second stage, it is necessary to invest time in data management so that it can be used strategically and a good start is to integrate the data collected by the company itself about its customers or potential customers.

After the identification, collection and integration, it is necessary to move on to the implementation of management systems, for example, in the cloud, so that the bridge between sectors and devices is made in order to centralize the business data, to keep it useful and updated, to help in internal communication, to avoid errors, to help deal with large volumes of information, to reduce the amount of internal processes and streamline their execution, to help in the development of operational strategies and to avoid duplicate work, allowing time optimization.

Analysis

In this third stage, businesses can determine in advance which data is most relevant before it is analyzed. This will allow businesses to get value and a better understanding of the data they have.

It should be noted that the concept of Big Data is not only applied to do analysis and collect data to be used later, because in some sectors such as marketing, e-commerce and IT, it is necessary to use Big Data to get answers in real time.

What is the relationship between Big Data and Business Intelligence?

Taking into consideration that we are talking essentially about data, it is important to highlight the relationship between Big Data and Business Intelligence, pointing out that they are distinct but complementary concepts, since BI refers to the intelligent process of using data for decision-making and performance evaluation of a business, while the goal of Big Data is related to the extension of access to new possibilities, allowing to handle a huge amount of information that is only possible through integration systems that will collect and process these data from various sources to be, finally, presented and provide a streamlining of business work.

Big Data with Business Intelligence can become very powerful because it has all the potential to streamline work, strengthen and develop the growth of companies.