A frequent question among non-experts is: “what are big data?”
Big Data are a large amount of data, numbers and statistics to be stored, managed and analysed. “Data” means text, images, video, audio and calculation elements. In order to exploit this huge amount of information, specific forms of reading, calculation and interpretation have been developed, which are superior to human ones.
Some examples of big data are found in the following sectors: banks, insurance, social media, manufacturing, large-scale trade and retail, public administration and healthcare.
Big data into companies
In a large or small company, the use of big data could turn into:
Applications of big data analytics in management activities
Big data analytics is a topic of fundamental importance for those entrepreneurs who aim to improve the corporate organisation, develop solutions and actions that may bring to cost reduction, to a better knowledge of the customers and to develop new products and services.
Big data management is the understanding of data passing through the network and coming from an infinite series of sources. The purpose of big data management is to make them comprehensible and transform them into strategic actions to support the business. Among the sectors most involved in big data management, there are marketing and sales (87%), finance and control (77%) and supply chain (45%). The management of big data does not depend on the type of business as it can be applied in almost all areas. It represents a looking-forward approach for the management of information.