Wal-Mart processes more than one million customer transactions every hour. Facebook users share one billion pieces of new content per day. And when the Large Synoptic Survey Telescope comes online in 2016, it will acquire in just five days an equivalent amount of data as has been amassed in the entire history of astronomy.
As a raw product, Big Data yields little to no tangible value. But captured, stored, harvested and analysed properly, it has the potential to disrupt entire industries and redefine the status quo.
The intrinsic value of Big Data is the same as that of all data: it is the value of making informed business decisions. “The difference is one of magnitude,” says Nik Rouda, senior analyst at the IT research and consulting firm Enterprise Strategy Group. “Do I want to understand my business at a kindergarten level or like an omniscient god?”
The key is the ability to aggregate and mine actionable information from massive, disparate data sets. By analysing both structured and unstructured data – such as sales transactions, clickstreams and social media feeds like Twitter – as a single data stream, organisations can identify even subtle patterns that help to improve decision making, insight discovery and process optimisation.
This article has been extracted from http://www.theguardian.com/, please click on this link to read the article in full http://www.theguardian.com/hp-partner-zone/2014/oct/02/big-data-its-a-big-deal-only-if-you-have-the-tools-to-use-it
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