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Big Data Strategy

Big Data Means Big Money: Why Businesses That Use Big Data Are More Profitable




Big data has dramatically changed the way most businesses operate. While the power of big data has been around for a while, it is only in recent years that companies across various industries have started leveraging it to its full potential.

In its simplest form, big data is a collection of information from many sources. This data is usually collected in one of three ways:

Asking users directly for permission to collect their information
Tracking software 
Cookies that collect data on users as they browse the web 

It shouldn’t come as a surprise that data on most of our actions are tracked, documented, and then used in a variety of ways. With this in mind, the potential for the exploitation of big data is a major concern, but the malicious usage of this information isn’t the norm. Rather, this information is used to better our lives. 

Businesses stand to greatly benefit from big data. Today, business leaders and project managers know how to use big data in order to get the biggest return on investment. Streamlining operational inefficiencies, minimizing risk, getting a thorough look at business performance — the use of big data is valuable for all levels of management. 

In our current economy, e-commerce, food tech, …

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