Organizations are discovering that important predictions can be made by sorting through and analyzing Big Data.
However, since 80% of this data is "unstructured", it must be formatted (or structured) in a way that that makes it suitable for data mining and subsequent analysis.
Hadoop is the core platform for structuring Big Data, and solves the problem of making it useful for analytics purposes.
The Importance of Big Data and What You Can Accomplish
The real issue is not that you are acquiring large amounts of data. It's what you do with the data that counts. The hopeful vision is that organizations will be able to take data from any source, harness relevant data and analyze it to find answers that enable 1) cost reductions, 2) time reductions, 3) new product development and optimized offerings, and 4) smarter business decision making. For instance, by combining big data and high-powered analytics, it is possible to:
Determine root causes of failures, issues and defects in near-real time, potentially saving billions of dollars annually.
Optimize routes for many thousands of package delivery vehicles while they are on the road.
Analyze millions of SKUs to determine prices that maximize profit and clear inventory.
Generate retail coupons at the point of sale based on the customer's current and past purchases.
Send tailored recommendations to mobile devices while customers are in the right area to take advantage of offers.
Recalculate entire risk portfolios in minutes.
Quickly identify customers who matter the most.
Use clickstream analysis and data mining to detect fraudulent behavior.
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