12 Jun Infographic: Big Data–From Buzzword to Business Benefits
When thinking about the big data market, it can certainly be overwhelming due to its vast, and somewhat complex, nature. To break it down a little, big data is defined as a volume of data that runs through a business on a daily basis. But, SAS.com states, “it’s not the amount of data that’s important. It’s what organizations do with the data that matters.”
That said, in a report written by Thomas H. Davenport and Jill Dyche from the International Institute of Analytics, titled “Big Data in Big Companies” found that big data used by larger companies is beneficial in a number of ways, including:
- cost reductions;
- improving the time it takes to do simple computing task; and
- supporting internal business decisions, to name a few.