New data sources are continually emerging through the evolution of mobile devices and advances in technology. By 2020, 50 billion Internet-enabled devices will be connected to the Web and annual data generation will be 44 times greater than it was three years ago.
This predicted growth means considerable benefits to companies. However, this depends on their knowledge of Big Data and whether they see it as a challenge or opportunity.
In a recent studio discussion, Adrian Simpson and Timo Elliott talked about Big Data and the ‘Four Vs’ – which represent volume, velocity, variety and validity. However, there seems to be some disagreement about how many Vs there are. Some say there are only three (volume, velocity and variety) and others say there are more, including veracity, virility and viscosity.
Watch the video below and draw your own opinion.
Many businesses associate big data analytics with marketing and finance management, but a minority view the wider picture about how analytics can be applied “across the board” to integrate systems and drive revenue growth. Read this article I found on Forbes explaining how eBay used Big Data to save millions .
How can big data analytics impact your business functions?
Learn more about Big Data with the below information:
-Beyond the Three V’s of Big Data: http://bit.ly/MlRftw
-Ten reasons customers choose SAP HANA: http://slidesha.re/N3OKtc
-SAP HANA Blog: http://bit.ly/LyQ2h2
-Top 50 Big Data Twitter Influencers: http://bit.ly/LZtpmz
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