Concepts Of BigData That Benefits To Your Business?

In a century where the Internet and social networks are protagonists, information moves through thousands of different communication channels. This evolution has affected how we communicate and customers’ demands, who are increasingly demanding a fully customized product and adapted to their needs. Taking all this into account, the following question arises: how do you get to know your client so well as to know exactly what characteristics they demand in your products or services? The answer lies in the information, the more data you have about your customers, the more you can adjust your product to their needs.

Today this information can be found in any communication channel, such as social networks, so much so that regulations have emerged to limit the processing of this information, such as the General Regulation on the Protection of Personal Data, which regulates the treatment of data so that companies do not treat them abusively or without the consent of users. From this exaggerated volume of information, we call Big Data, which is about exploiting large amounts of data for companies to use in their favor in developing their business.

That is why what we are coming to talk about today is the 5V that make up the concept of Big Data :

Volume

Considering what has been explained above, the volume of data would be a characteristic of this concept. We are talking about innumerable amounts of data that are sometimes lost in the networks because it cannot be managed and classified correctly. However, today some tools allow extracting this data and storing and organizing it properly.

Speed

As there is such an exaggerated volume of data, their life cycle is concise, therefore –as we explained above-, we must use innovative and efficient technologies to be able to extract that information, which by having a life cycle so short, it forces us to do it at the highest possible speed, and continuously, to always have up-to-date and truthful data on users available.

Variety

Obviously, in a world where there is so much information, and thousands of different channels to disseminate it, in each track you can find information of various types, thus obtaining an exaggerated variety of data, present in other formats – since, just as we can extract written word, we can find it through images or videos, of which you have to know how to highlight the useful ones for your company. This creates a challenge for Big Data applications, which must also recognize it in different formats and store and order information.

Veracity

Due to the immense amount of data in the networks, not all are always reliable, so information must be filtered, classifying and separating the information that may be false, from the true and useful for making decisions for your company.

Value

This is probably the essential feature of Big Data since if the Big Data tool meets the four previous characteristics, and the information will be abundant and truthful, it will be up-to-date. It can be presented in a multitude of formats that will favor decision-making in your business. That is why it is valuable information, and you have to know how to use it properly to get the most out of all this data about your customers and potential customers.