The problem is that they talk about it, but they don't tell you exactly what it is (they probably don't know). Luckily, we know it and we're going to explain it to you. Today you'll learn everything about the so-called Big Data , learning what it is and what it's used for.
And remember that at EAE Madrid we also offer the Master in Big Data & Business Analytics , which will help you develop the technical and technological skills necessary to succeed in this sector.
What is Big Data?
Bigdata or Big Data is a concept that is used to explain the large volume of data that is present on the Internet . This concept began to be talked about years ago, when the volume of data gambling data china phone number exceeded one billion Gigabytes (Exabytes). From Exabyte onwards it is called Big Data, with Terabytes and Gigabytes being called Small Data.
Because the amount of data is so large, not all of it is structured. This data contains a huge amount of information, from your eye colour to the photos of your trip to Andorra. Its variable nature and sheer volume means that it is still not fully understood.
That is why Big Data specialists, i.e. those who know how to store and process data, are so highly valued and well paid. These specialists are divided into data scientists, data analysts and data engineers.
Why Big Data is so important for companies
The reasons why Big Data is important for companies is because data is a valuable source of information that tells a lot about users. Analyzing and understanding data helps to understand the buyer and improve the user experience.
For example, if you know the type of content someone consumes and the time at which they visit it, you can offer personalized ads to them. Thanks to Big Data, you get ads for motorcycles when you searched for information about them the day before.
Although users often don't understand it, this is worth its weight in gold for companies. By knowing exactly what to offer, they will save money on advertising and increase conversions. This way, the ROI or return on investment will be greater than ever.
In addition, it helps you identify trends and patterns , staying ahead of the market and improving your business. For this reason, it seems like some of them can read your mind, because they know all the data you have been leaving and have interpreted it correctly.
What is Big Data for?
After knowing what Big Data is, we will see what it is used for and why it is so useful in the most cutting-edge companies in the world. First of all, you should know that you are always providing data when you do any online activity. For example, by reading this article you are making your priorities clear to Google. If you fill out a contact form or upload a photo to social networks, you are also providing information.
What is Big Data used for ? To process all this data that is provided and thus get to know you better. For it to be useful, the company must store and process the information, then organize it correctly so that it is useful.
The benefits are endless, including increased productivity, improved decision-making and reduced costs. They also improve the user experience, increasing speed to market and improving fraud detection.
Examples of the functions that Big Data has in companies
The best way to understand what Big Data is for in business is with concrete examples that are easy to understand. The most famous example is that of platforms like YouTube or Netflix, which know what you watch and when you watch it. By doing so, they know what you like and recommend videos that might interest you, as well as personalized ads.
In fraud detection, your location data is used . Has someone from Nepal stolen your Facebook account? They know you are always in Spain and have not travelled, so they won't let them in.
Big data is not only used in the internet industry. Did you know that it is used in cancer treatments? The huge volume of data allows for the design of personalized health plans . Data is also used in monitoring tools such as watches, sending automatic alerts if you have fallen or if your pulse is abnormal.
Finally, we will highlight the use seen in artificial intelligence . For example, thanks to data, intelligences such as Chat GPT have been created, as well as autonomous cars, which operate thanks to road maps with live traffic information.