Explain to me like I’m 5
In: Technology
Big Data is a buzzword for massive repositories of information that need to be searched through quickly, particularly because new data is being added quickly. Things like stock trades, Amazon purchases, YouTube views. Data Analytics, really just refers to analyzing data, but when it’s combined with Big Data, you can start to see some patterns emerge, as even 1 in a million events happen a lot at ten million transactions per second.
The combination allows companies to look at pools of data in very broad ways, and can recognize correlations that a human might not even think to look for. Say, for instance, people who buy baby formula also are more likely to buy camping gear 2 years later. So a retailer like REI might find it useful to get the marketing list for new births, and start sending catalogs/coupons about 21 months after birth.
Netflix has used it to guide decisions on what shows or movies to create, looking at combinations of actors, directors and subject material.
Latest Answers