Over the past 10 years, the flow of digital data in the world has increased significantly. Now 2 days mankind produces as much information as was created from the beginning of civilization until 2003. International consulting firm McKinsey &Company suggests that the usual big company today produces about 200 terabytes of information: data about customer purchases, transactions with suppliers, information about financial transactions. In fact, the annual volume produced by American companies, would be enough to completely fill ten thousand Libraries of Congress.
These huge amounts of data require careful analysis. In a changing market where trends change extremely fast, and the behavior of consumers is difficult to predict in traditional ways, companies are turning to Big Data. Technology analyze huge volumes of structured, unstructured and metadata, allows you to develop complex computer models to identify existing patterns and conduct various simulations. Continue reading