Albert Einstein once said “information is not knowledge” and data without context is just organized information.
In essence, data is just people doing stuff.
The true value of data is far beyond obsessions with key performance metrics.
For most businesses, it’s about extracting insights to create value that has the potential to drive innovation to improve products and services.
In fact, more companies are shifting their focus from traditional business intelligence (BI) to predictive analytics – using historical data to predict future events.
Understand the World of Big Data
To put things in perspective, according to IBM “we create 2.5 quintillion bytes of data – so much that 90% of the data in the world today has been created in the last 2 years alone.”
There is so much data coming in at such a high velocity in all types of complexity that this phenomenal we called big data is now a problem for most businesses.
In fact, there are so many challenges in dealing with big data that it’s often hard to process let alone understand.
This is especially true for any business that engages with digital