Big data is everywhere and used for just about everything. Digital data is produced at infinite rates with no likelihood of stopping. Everything we do on apps, the internet, and even in our homes is data and is collected for analysis. But why is big data so valuable and how do you use it? Big data holds an endless amount of insights that are used to improve performance via better decision-making. However, insights are only as valuable as the decisions that follow so you need to make sure the insights are as clear as possible.
How are BI tools used?
In many organizations, business intelligence is a growing necessity because of big data. BI tools display data in a way that’s more easily understood and can reach a wider audience. If you are able to successfully present visual insights and create change. Departments, agencies, and companies will utilize BI visualizations to help restructure internal resources, plan for budgets and investors, or build better campaigns. Business intelligence tools are used to address audiences quickly and efficiently. Presenting an easy-to-understand visualization will deliver crucial insights to the right people and initiate changes to improve performance.
Better information delivery means the right people are more informed.
What is data mining?
Before you’re able to make decisions, you need to sift through the data, or else, you won’t have any insights to work with and you won’t understand the data at all. Data mining refers to the process that uses more complex methods (ex. database management) to identify patterns in large volumes of data. Imagine a bucket full of beads with different sizes, colors, and shapes. How would you organize it? What insight would be unveiled? You’d probably look for patterns in size, color, or shape. You’ also try and store these beads in a different vessel and system. Though the actual mining process is more complex, it does follow the same principle of assessment. Refine the data by finding patterns and insights.
Big data and data mining can be difficult to understand, but they are unavoidable in this digital era. Data is unavoidable so why not use it to grow? We can help.