Supportsoft Glossary

Big Data Technologies for Scalable Business Insights

'Big Data' is the terminology that describes large, complex datasets that cannot be effectively handled using conventional means of managing data. Large datasets (big datasets) generally exhibit the same set of characteristics. As previously stated, there is tremendous volume (and velocity) of big datasets that get created from multiple sources, including customer interaction (customer services), sensor readings (production equipment), transactions and social media, and other means of digital interaction.

Organisations leverage technologies in the Big Data ecosystem to store, process, and analyse large amounts of information. By leveraging Distributed Systems (DS) and Analytical Technologies, businesses are able to identify and analyse patterns and trends in large data sets, as well as gain new insights into their business operations that were not previously available. As a result, they are better equipped to make informed business decisions about all aspects of their business, including operations, marketing, finance, and customer support.

While the ability to collect information is one of the most visible benefits of Big Data, utilising these large data sets as a means to transform data into value occurs when organisations are able to build effective data governance, quality management and analytics methodologies. When combined with other emerging technologies (e.g., AI and machine learning), these techniques create significant opportunities for organisations to innovate and compete in the marketplace.

Companies interested in scaling will want to utilise the Big Data technologies currently available, as they represent the foundation to create smarter/faster/more resilient business models.