Big Data is a huge deal right now. Everyone is talking about it, about the impending seven hells it is just about to rain down upon us. A quick Google search of the phrase reveals 3.36 billion results. That puts into perspective how much of a big deal this is. Everyone is talking about how a time will come when we will be flooded with so much information we will run out of places to put it and we will have no idea what to do with it all. But those are all lies. And here is why.
Many people believe that soon we are going to be overwhelmed by Big Data. They believe that someday real soon companies will not know what to do with the data they mine. However, is it not clear that technology is advancing in leaps and bounds every year? Computers are constantly getting faster, smarter, cheaper, and with larger storage capacities. Sure, companies are handling increasingly larger volumes of information every day, but the computer industry is keeping up. This Big Data lie is not new. The discussions have been going on for years now, but Armageddon has not struck yet. Perhaps it is time to put it all to rest.
Furthermore, there is the aspect of the human element that comes into play when it comes to Big Data. The data that is collected can never be 100% accurate. Why? Because at some point along the chain of information transfer, there are human beings involved. Human beings can either maliciously alter the data or unknowingly influence the output. Either way, since man is to error, companies need to account for this margin of error when analyzing data and making decisions.
Big Data need not scare you. On the contrary, harnessing the power of big data can catapult you and your company to heights far greater than you ever imagined. Data analysis can offer insights into the behaviour of your users and customers, market trends and the direction the industry is headed, giving you almost godlike powers when it comes to making decisions that will not only generate your company revenue but also establish your brand as an industry leader and trendsetter.
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