According to an Accenture study, 79% of enterprise executives agree that companies not embracing big data will lose their competitive edge, with a further 83% affirming that they have pursued big data projects at some point to stay ahead of the curve. Considering that data creation is on track to grow 10-fold by 2025, it’s crucial for companies to be able to process it more quickly, and meaningfully.
The expression “big data” is often bandied around in the business and tech world, but what does that really mean? Big data is a term that’s used to describe extremely large data sets that can be analyzed for trends and patterns in order to make better business decisions. That may sound easy enough, and although there is extensive research and written information on big data technologies, few companies are actually using big data successfully.