Are you thinking about using data analysis to improve your SME? Then you should know that apart from the well-known Big Data, there is Small Data and it can be more useful to you. What is Small Data and what is the difference with Big Data? In this article we explain it to you.
The era of data valu
ata, data and more data. One thing that is certain at the end of the second decade of the 21st century is that between internet search engines, social networks, wearables , the Internet of Things and many thailand whatsapp number data other sources, the data produc by people has become the most valuable thing for companies and governments.
How many times have you heard about the amount of data Facebook and Google have on Internet users? And especially, how they use it? There are plenty of scandals regarding the use of data, Cambridge Analytica being one of the most notorious. The fact that governments are now developing and implementing data protection laws is an indication that this is a very serious issue, it is the privacy of the individual.
A correct data analysis offers useful results or insights to understan marketers are not advertising salespeople d behaviors or prict situations. Companies, whether large, mium or small, know this and that is why they are investing in data analysis tools and specializ people to carry it out.
Organizations look for all kinds of patterns and results that help the company. For example, identifying failures and optimizing processes; pricting market behavior; pricting risks to avoid or overcome them as best as possible; designing new business models; drawing consumer profiles to fine-tune or develop new pro material data ducts. In other words, analysis gives you the information your business nes to stand out in the market or even survive a crisis.
What is Big Data
The term Big Data has been heard a lot in the world of technology and business lately, and refers to all the information that is generat all the time, everywhere. Big Data is a combination of structur and unstructur data that can be measur in petabytes or exabytes. It comes from any type of source, whether produc directly by a human or not.