01 Oct BIG DATA: Why is there so much interest on this lately?
By M.Mohamed Feroz, Lecturer, School of Computing & Technology
One will agree that the idea of big data has been around for years. However, in recent years, most companies have realized the benefit of collecting all the data that streams through their organizations. Even in the 1950s, decades before “Big Data”, some of us were already using simple spreadsheets to analyze the data that we have uncovered potential manually, more so for the purposes of marketing.
The tremendous advantages that Big Data analytics bring are cost reduction, as well as increase in speed and performance. Big Data analyses when used with computer software such as SAS Integrated Development Software, can reveal a lot of information for immediate and efficient decision making in today’s challenging business environment. These in return gives companies a competitive edge for a speedy and agile workflow as compared to their competitors using manually analyses.
Beside the advantages mentioned above, new products or services too can be ‘born’ as a result of analyzing the data. Certain million-dollar organizations could have only existed today because of the data that was supplied either knowingly or indirectly by their subscribers. This itself has proven the power of BIG DATA.
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