What is big data?

What is considered "big data" varies depending on the capabilities of the organization managing, processing and analyzing the data in its domain.

Data from all sources collectively form “big data”

Conventional sources: 1) Transactions, demographic info and channel interactions.2) Purchased data from data collecting vendors.

More recent data sources: 1) Web browsing (intent). 2) Social media (sentiment). 3) Mobile usage (location and apps).

What is Analytics?

The capabilities of the organization to turn massive amount of data into actionable insights, enabling the organization to make fact-based decisions.

Key components include:

Talents – statisticians and data scientists who are experienced in extracting best information from the data to address various business problems.

Applications and tools – software that includes algorithms to deliver predictive analytics solutions.