The Big Data Movement Isn't Just a Buzzword
During the past several months, "Big Data" terminology has been tossed around quite a bit in the business world, causing some skeptics to claim these ideas are nothing but buzzwords creating misdirection. Most pundits, however, don't agree with this conclusion, noting that "Big Data" isn't a single technology, strategy, or buzzword, but a major movement taking place in companies of all sizes.
A Forbes report highlighted this theory, noting that Big Data represents new opportunities for organizations to gather, store, and analyze large volumes of digital information to optimize performance, customer service, and other critical operations. Some experts believe the Big Data movement is larger than this because it will essentially change the face of the business world forever.
"Big Data is not a specific technology. Big Data is a movement," IT expert Mayank Bawa told Forbes. "It is about how organizations leverage different kinds of information for different types of purposes to unlock value that was previously unattainable or unknowable."
Bawa noted that the proliferation of sophisticated analytics and other solutions now gives companies the ability to understand information that was previously disregarded because there was no way to comprehend it. This development has ultimately given enterprises the power to augment operations on multiple tiers.
Big Data's reach
Although there are a number of reasons to embrace the Big Data movement, one of the best justifications is that companies can essentially collect information on anyone using the Internet. Forbes noted that Big Data's "invisible hand" enables organizations to acquire new and wider perspectives of their existing clients as well as prospective customers. This awareness provides decision-makers with insight into which direction they should move to engage with the most consumers.
A TechRepublic report highlighted how Big Data can open new doors for organizations, allowing them to pursue innovative endeavors to gain a competitive advantage over firms that continue to regard Big Data as merely a buzzword. If businesses embrace Big Data correctly, they can acquire new understandings of their markets, which will enable executives to optimize operations on multiple levels.
In the end, it is important that decision-makers realize the impact Big Data can have on their company's success. The Big Data phenomenon is a growing movement that will continue to shape the business world, forcing firms to either keep up or risk falling behind.
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