Revolution, new era, new world order … Experts are running out of words to describe the disruptive impact of Big Data. Digital data explosion has opened the door to huge business opportunities. In fact, those experts who use numbers rather than adjectives forecast that worldwide revenues for Big Data will exceed $200 billion by 2020.
Current data volumes have surpassed the capabilities of traditional tools. People are generating massive amounts of data every day through their activity on social media networking sites, their internet searches, their multimedia consumption or their online purchases. Simultaneously, organizations are collecting more and more information in their logistics, customer management or billing systems. In addition, Internet of Things (IoT) has multiplied the volume of data generated by machines. Big Data solutions face the challenge of extracting insights from all this information.
Biomedicine, transportation, energy, e-commerce, finance ... Many sectors are taking advantage of Big Data's benefits. These benefits are very varied. However, there are some common competitive advantages, including:
Big Data gives business the ability to adapt to an ever-changing market.
The so-called 3 V's of Big Data –Volume, Velocity and Variety– increase exponentially. This growth opens the door to enormous opportunities, but also poses major challenges.
At 3.14, we develop Analytics solutions tailored to each client's goals. Depending on the needs of the project, we combine data curation , analytics , data integration , data wrangling , machine learning or data mining . In this way, it is possible to seize the potential of Big Data and meet the challenges of the 3 V's.
Dark Data –information stored, but not analyzed– exceeds 80% of Big Data.
As the Volume, Velocity and Variety of data keep rising, companies must be equipped with the most suitable systems to unlock the full value of their data.