Because bigger is better (in this case).
Information obtained from data forms the core of making business decisions: data-driven decision making.
More and more information is being collected that often comes from a multitude of sources. As a result, this data no longer fits into a simple database. That ever-increasing amount of data must be integrated into data sets to enable proper analysis. If that is the case, we speak of Big Data.
The six Vs of Big Data:
- Volume (What is the amount of data?)
- Variety (What is the diversity of the data; where does it come from and to what extent is it structured?)
- Velocity (At what speed can the data be generated and processed?)
- Value (What is the value of the data?)
- Veracity (How reliable and accurate are the different types of data?)
- Variability (How variable is the structure of data?)
After an extensive inventory of the wishes of an organization and through a Big Data Maturity Assessment, we look at where the organization stands now in data collection. Our experienced consultants make a thorough proposal based on this. Among other things, it specifies which form of Analytics fits in with the wishes discussed and how the associated architecture will support this.
The four forms of Analytics:
- Descriptive analytics deals with the question of what happened in the past and makes a statistical description of your data, so that you can find patterns in it.
- At Diagnostic analytics you use statistics to find out why something happened.
- At Predictive analytics you use statistics to predict something in the future based on data.
- Prescriptive analytics is about automatically finding the best solution, option or choice based on the information that has emerged from your data.