Kenneth Cukier, world renowned for being a co-author of the book: “Big Data: A Revolution That Will Transform How We Live, Work, and Think” participated in TEDSalon Berlin 2014 in a conference called:
Big Data is better data.
Cukier began his lecture with an example of the power to analyze large volumes of data: What are the Americans favorite Pie? The apple pie!
Most sold Pies are apple, but when sales staff began analyzing pie in size, Apple pie happened to be in the fifth place and most favorite size was 11cm; what happened? Well, when Americans tend to buy large Pies, families have to agree to choose which flavor they like, and then they agree of apple, is the second American favorite.
His lecture was my first contact with the world of Big Data, and the message I left was clear: “more data will not only allow us to see more of what we already know, will let you see new, different and better perspective of things .”
That is the big data revolution conventional data analysis, where we analyze columns and rows, to analyze any information regardless of its format.
Have you ever wondered what your customers think about your product? How people behave or acquire your services? The ease of access to information in real time about what is happening in social networks is a quarter of the conventional data Business Intelligence is ignoring, and the market is showing.
In the 21st century where any social, economic or political change allows us to make decisions instantly to analyze and to react in time. It is, is one of the many benefits of Big Data.
The information is hidden in data no longer requires a specific format, can be photos, videos, audios or even 140 – character messages. Everything can be analyzed thanks to cloud computing. Now you can access machines with high processing capabilities from a very low cost one for results and patterns that were previously unavailable.
To access the power of big data it necessary to have statistical notions, which allow us to interpret the results. Humans generate huge amounts of information as we use our mobile devices, we move around our cities and make decisions based on the information found on the Internet. What use can give all this information if you do not understand that we are saying ?
Regardless of whether there is a difference between the terms, the Big Data today is being used to make the data analysis more developed form and therefore is leading the Business Intelligence to another level. Big Data techniques are an evolution of business intelligence they allow to transform a large amount of data into meaningful information for making business decisions.