Very often in the world of technology we hear the term “Big Data” being applied to various areas of expertise. In this article, we take a closer look at what it is.
When we talk about Big Data, we are usually referring to a large amount of data, which may or may not be structured, but which must be categorised and analysed for the purposes of obtaining specific information.
Why is Big Data so important?
If we think about any kind of business, it is easy to imagine the necessity to analyse enormous volumes of data and information. Ever since the era of the Internet of Things began, it is worth noting that today there are more than 4 billion users who own a smartphone and more than 2 billion who use the internet.
What characterises Big Data?
As we enter a more technical context, Big Data is characterised by three fundamental parameters: volume, variety and velocity.
Volume is the parameter that represents the enormous quantity of these data; variety identifies the multiplicity of formats in which these data may be available (for example: documents, personal details, payment information, etc); velocity, on the other hand, constitutes the speed with which the data are made available.
Where is it used?
Big Data is an expansive concept and is applied to the most diverse contexts of professional life and specifically in industry 4.0.
It ranges from the urban (e.g. smart cities), where it is possible to analyse and run infrastructures managing peaks of urban traffic and pollution, to law enforcement. As a matter of fact, the police can make use of images recorded by CCTV cameras or information taken from radar to detect suspicious vehicles.
Big Data analysis can also be used in a retail context to aggregate the behaviours and habits of the population, and make consequent adjustments to marketing and sales strategies. In this way, it becomes possible to “predict” – or at least learn about – the behaviour of a representative part of the population, and thereby increase a company’s performance.
The world of telecommunications is certainly no exception. In this sector, in wholesale, thanks to Big Data it is possible to identify telephone fraud and monitor the quality of network traffic, isolating potential system problems.
What connection is there between Big Data and a company’s success?
Now more than ever, in whichever sector it operates, a company must keep up with the times. Or rather, it must stay ahead of them by interpreting market needs. Success lies therein: focusing on the most profitable services, reducing complexity to the point of simplifying strategy, analysis and execution processes, and Big Data represents a scenario that is already part of our reality.