In: Operations Management
500 word response What is Big Data? Why is it important? Where does Big Data come from?
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Everything that we do online essentially leaves a footprint which is digital in nature. This footprint is utilized by large machines that take in huge amounts of such data, process it and convert it to useful information in order to help with the forecasting of particular business theories and models. This process of collection and processing of data we leave around can simply be called as big data, due to the sheer volume of data left by everyone, everyday. The machines/models that then require this input to process an output can be called as big data analytics because it provides us with the day to day set statistics and values of absolute relevance in the functioning of the business. While companies use this data to feed their predictive algorithm and find a pattern amongst the randomness of all the data we leave online and essentially, we need to be able to protect it from the different companies, even national agencies.
Big data is a useful tool which allows a company to predict the value of some entity and/or a decision that needs to. Be made with respect to all the collected data. This is the reason why big data is of relevance to the different . businesses. We provide the data/ feed the data to the machines which process it and predict whatever we tell it to.
Big data is generated by our online activities. Every click we make, ever website we surf, watch, share, it all gets collected through the use of ethical means by the different large as well as small organizations which direct it towards the accurate system to be able to create the data and essentially allow its use by the companies.
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