What Is a Big Data? Big data means large sets of structured and unstructured data. It is so large and complex that regular data processing techniques do not work in dealing with this type of data sets.  Generally, in the industry, the 3V model is used to describe big data.  Volume is related with how the data is stored. Businesses collect data from many sources such as sales transactions and social media and storing this continuous data was a problem in the past. Nowadays, big data technologies made storing data easier. Velocity stands for real time data. Data streamed in real time must be dealt with immediately. Finally, variety refers to the different formats of data such as text, video, image and audio. Businesses should be able to arrange and store data in all formats. Now that we have an idea about what big data is, let’s try to understand what big data means for businesses and why it is important for them

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What Is a Big Data?
Big data means large sets of structured and unstructured data. It
is so large and complex that regular data processing techniques
do not work in dealing with this type of data sets.
Generally, in the industry, the 3V model is used to describe big
data. These 3Vs are:
Volume
Velocity
Variety

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Volume is related with how the data is stored. Businesses collect
data from many sources such as sales transactions and social media
and storing this continuous data was a problem in the past.
Nowadays, big data technologies made storing data easier. Velocity
stands for real time data. Data streamed in real time must be dealt
with immediately.
Finally, variety refers to the different formats of data such as text,
video, image and audio. Businesses should be able to arrange and
store data in all formats.
Now that we have an idea about what big data is, let’s try to
understand what big data means for businesses and why it is
important for them

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1. Understand the market
conditions:
Analysing big data helps understanding current market conditions.
Through analysing customers’ purchasing behaviours, a business can
find out the products that are sold the most and produce its future
products according to this trend.
As a result, it can get ahead of its competitors.

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2.Understand customers
better:
A business can understand its customers better with the help of
big data analysis. It can predict what its customers want in
advance and provide them a better service in addition to better
products. Also, businesses can minimize customer complaints
easily using big data tools, since these tools can automatically
detect negative comments on social media. As a result, you can
act promptly.

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3. Control your online
reputation:
Big data tools can do sentiment analysis. Therefore, you can
get more feedback about who is saying what about your
company.
If you want to monitor and improve the online presence of
your business, then, big data tools are a must-have for you.

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