In 5 steps.. How does big data analysis affect your company's performance?

Due to the breakthrough, it achieves in the performance of enterprises and any business or marketing on the Internet, the term big data analysis has recently been circulating in many technical and business groups.

Data use and analysis have always been frequent and significant, but with tremendous technological advancement, the volume of information has expanded, necessitating larger and more precise analysis; to generate results that help improve the user experience, create the advertising system, and others.

It is now collecting big data using various approaches to keep up with its massive scales, such as cloud computing and the Internet of Things, before entering the analysis stage and contributing to the development of artificial intelligence, machine learning, and deep learning.

Although the term "big data" originated in 2005, its true significance did not emerge until the beginning of the third decade of the twenty-first century.

Its previous applications and websites focused on studying its audience's interests and targeting them with new experiences and compatible ads before the issue evolved to include big data analysis in the environment, industry, commerce, social networks, and all Internet-related businesses from near or far.

First, what is data analysis and why is it important?

Let us accept that every interaction that occurs through web spaces generates a variety of data. This data is saved in various formats and tools to be examined later so that it can be transformed from its raw image into results and plans based on visions that are ready for implementation.

These outcomes and strategies aid in a clearer understanding of the operations within the companies and the various sectors, as well as a deeper understanding of the impact of their services, and work on development in tandem with a detailed vision of the nature of users and their tendencies and trends.

Companies can utilize this notion to generate more personalized materials; target certain consumers rather than all customers, improve the user experience, and raise employee productivity.

Second, big data analysis and the ensuing competitive advantages

If everything that happens in the digital world is saved as data, and this data is critical to corporations understanding their audience and devising strategies to meet their demands, what about the term big data?

So yet, there is no agreed-upon definition of big data, but it is a type of data that varies in form, amount, and source, providing an additional competitive advantage to those that make excellent use of it and accurately analyze it.

The usage of big data in the scope of your work yields surprising positive outcomes in terms of enhancing your company's efficiency and earnings, which includes resolving the problem of waste and other gaps between your products and customers.

Big data cannot be evaluated using typical methods since it differs from regular data in shape, size, and speed.

Third, before evaluating big data, how is it classified?

Although there is no universal definition of big data, it is typically defined as data measured in petabytes (one thousand terabytes) or exabytes (one million terabytes).

According to IBM statistics, the volume of data generated every day has reached around 2.5 quintillion bytes of big data since 2012 and the advancements of the digital world.

Big data is characterized according to 3V's which are as follows:

Volume

Big data is classified according to its scale, that is, its value, capabilities, and influence, and this is one of the most essential qualities that distinguishes big data analysis.

Variety

Diversity is an important feature of big data, and it represents the diversity of data retrieved from its source, which allows researchers and analysts, each in his or her specialty, select what is appropriate for their job and research.

Velocity

The speed with which big data is produced and extracted is critical in acquiring insights and results and making decisions based on this data.

Fourth, what is the significance of big data analysis and its impact on company performance?

There are numerous sources of big data, including government sources, e-commerce websites, smartphone transactions, weather sensors, tracking device sources, global positioning systems, and others.

Because of the variety of sources and classifications, analyzing big data has become a key concern for many local and international enterprises and companies, as it boosts competitiveness and positively influences company performance when correctly utilized.

The usage of big data technology and analytics tools assisted a corporation like Walmart in improving search results for its products on the Internet by more than 15%, while also assisting it in reducing expenditure costs and increasing profitability.

finally... How can the Free Webinar on Big Data, Data Science, and Machine Learning in Dubai assist you?

It appears that you now recognize the importance of relying on big data analysis to gain a better understanding of your operations, the nature of your audience, and how to target their demands in depth.

As a result, there is now a chance to understand more about big data and its sciences, as well as its relationship to machine learning, which has also become the backbone of the artificial intelligence business, which accounts for around 80% of our digital future.

"Innosoft Gulf" the Middle East and North Africa's top center for artificial intelligence and big data analysis, is hosting a free seminar on big data, data science, and machine learning on Tuesday, March 28, 2023, from 4:00 p.m. to 5:30 p.m. in Dubai Knowledge Park (Block 6, Office F02).

You will learn about the advancements in the data industry, and how to acquire and evaluate financial data, and there will be discussions on machine learning and the basic significance of data in artificial intelligence during this seminar.

This session will help you improve your business and confidently enter the era of digital transformation and informational competitiveness.