Big Data is changing the arena for big businesses. Big Data is the technology trend that has made it possible for businesses to better understand their markets. Big Data is the new natural resource, the new “oil.”
International Business Machines, or IBM, saw this trend and moved their company away from hardware and into software and services, following the money. It is because IBM is so adaptive that it has lasted for over a hundred years. IBM is constantly evolving, growing, and changing.
Around a hundred and two years ago, IBM began as a tabulating company, producing super computers. It then moved into the PC market, selling commercial computers to the masses. This PC market is now being replaced through destructive innovation by the tablet market. IBM realized this and sold their PC markets and moved onto different endeavors.
Today, IBM exists in 172 countries and employs 400,072 employees. IBM focuses mostly on developing ...view middle of the document...
Big Data analytics is the process of examining large amounts of data in various forms and uncovering trends and correlations. Big Data analytics is the process of making the world’s data useful information.
An example of companies using Big Data analytics is a wind turbine organization that tracks weather patterns and other environmental data to select the best area to place their turbines. Another example is government agencies that track traffic patterns to understand what the best time for people to travel is. This is all made possible by Big Data, which now makes “real time” information a must across all industries.
Big Data is all data: volume (data at scale), variety (data in many forms), velocity (data in motion), and veracity (data uncertainty). These varying types of data are growing exponentially. As much as ninety percent of the world’s data was created in the last two years and eighty percent of that data is unstructured. This shows the importance of technology and businesses to be able to organize and interpret mass amounts of data.
This new wave of technology we find ourselves in today has proven successful for those who are quick enough to jump on the Big Data trend. Changes in the mobile industry now combined numerous devices into one smart phone, cloud computing replaced the need for companies extensive servers and IT departments, and social media opened new avenues for businesses to advertise to potential customers and better understand their needs and wants.
It is because of these changes that companies like Facebook have been so prosperous, organizing and accumulating Big Data and using it as a sellable resource. It is also the reason why IBM was able to prosper in a different market sector.
“Businesses are dying of thirst in an ocean of data.” This refers to influx of data, flooding businesses, ultimately proving useless to them because they cannot interpret and use that data to their benefit. Companies like IBM, who specialize in Big Data and business analytics, are becoming increasingly useful to these businesses because they have the ability to transform facts and figures into meaningful representations of information that can be used for firms to better market and promote their products or services.