If you are familiar with Bernard Marr, the Forbes contributor and big data enthusiast, then you will know how sexy he thinks big data is.

He describes data scientists as the ‘unicorns of the job market right now,’ and he says that data in a business strategy is the essence of delivering extraordinary results.

Whitehall Media recently hosted one of their Big Data Analytics events, sponsored by companies in the big data industry including Cloudera, Pentaho, Tableau and many more.

For many businesses, information is power and information is harnessed from data. Businesses simply cannot afford to ignore their data, but by developing it, this allows business to exploit opportunities to extract value and position themselves as a result in an progressively busy marketplace.

What is big data good for?

At the big data conference, one of the simplest pieces of information given by Pentaho is the 5 C’s of IoT (Internet of Things): Connections, Conversions, Centralisation, Cognition and Continuous Improvement.

IoT is basically about data – whether big or small – the devices and connectivity. IoT and big data have a close relationship, and all this data is front and center in the world of big data and IoT.

Collecting and analysing data is important, but if a business does not have a clear strategy of how they want to consume this data, then it is essentially irrelevant.

According to Lucy Fox of Cloudera, 89% of CEO’s across Europe have big data on their agenda, which fundamentally illuminates the importance of big data from a business perspective.

Event attendee David Stephenson, consultant and speaker on data science, BI, and data privacy discussed the conversion rate optimisation using big data and data science. David explained that big data and the science of data is an art as well as a science.

David illustrates how developing your business’ data creates something truly powerful. The logic of connecting all your data in the right places will in effect create an experience your business would never have had the opportunity to, unless progressed. Though, it is still important to understand that the application of big data should be well organized with a structured strategy.

There are many advantages of big data technology, and the big data interpretations can bring out insights which might not necessarily be obvious or detectable when using a traditional method. Big data means identifying unknown trends which the human eye can’t notice straightaway. But to make all this work, it requires new technologies and skilled people to analyze this process and to draw up conclusions. Technologies such as Apache Hadoop is one of the main technology software’s linked to Big Data, and works as a foundation that allows for the circulated processing of large groups of data amongst sets of computers through simple programming models.

So, why big data? Because big data is the future.

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