For decades businesses have been using data in some way or another to improve their operations. For instance, an IT software could support small enterprises in their customer-facing processes.Alternatively, large corporations may possess complex systems that monitor and detect any changes in consumer sentiment towards brands. Such data involve continuous flows of information and mining of data.
Recently, many industry leaders, including McKinsey, IBM and SAS among others have released relevant studies on big data. It transpires that they are using similar terminology to describe big data as a “situation where the volume, velocity and variety of data exceed an organisation’s ability to use that data for accurate and timely decision-making” (SAS). These providers of business intelligence solutions have developed technical approaches to storing and managing enormous volumes of new data.
The handling and untangling of such data requires advanced and unique storage, management, analysis and visualisation technologies. The terms…
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