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Forms of Big Data
Companies have been making business decisions based on transactional data stored in relational databases for decades. Beyond that critical data, however, big data is an extensive collection of weblogs, social media, large-scale e-commerce, financial information, purchase transaction records, cell phone GPS signal, emails, Internet text and documents, call detail records, medical records, financial records, videos, smart meters, equipment logs, digital photographs, machine-generated data, ERP and CRM data that can be mined for useful information.
Big Data Uses
Businesses are using big data to increase their innovation and operational efficiency, and retain customers.
Oracle says that all data can be used daily for a variety of purposes. For example, a company can take many terabytes of daily Tweets to convert into product sentiment analyses. In another instance, an energy company was able to convert billions of yearly meter readings in order to predict its customers’ power consumption.
Big data needs to be time-sensitive. In an age where fraud is on the increase, minutes can be the difference between detecting fraud or experiencing damage to a business’ finances and reputation. Big data can be leveraged to analyze millions of transactions created each day to identify potential fraud. For enterprises that keep call records, millions of daily call detail records can be analyzed in real-time to predict customer leaving or churn rates. Businesses with surveillance cameras can monitor hundreds of live video feeds to target points of interest.
Today’s businesses can look to Oracle for solutions that will help them manage their data now and in the future.
Centroid is a cloud services and technology company that provides Oracle enterprise workload consulting and managed services across Oracle, Azure, Amazon, Google, and private cloud. From applications to technology to infrastructure, Centroid’s depth of Oracle expertise and breadth of cloud capabilities helps clients modernize, transform, and grow their business to the next level.