Big data is an all-important term for today’s business world. The phrase refers to data created
by technology that is too big, or too fast for the average database. It can be used to instantly
interpret market trends, understand competition, increase productivity, create new products,
and eliminate waste. It is estimated that a retailer using big data to the full has the potential to
increase its operating margin by more than 60%. Alternatively, services enabled by personallocation
data can allow consumers themselves to capture $600 billion in economic surplus.

This information is created by electronics that collect consumer information, pictures or
videos, cell phone signals, environmental sensors, and countless other facts and figures. It is
categorized by the descriptors Volume, Velocity, Variety, and Veracity. These titles, simply put,
describe the large amount of data, how quickly it needs to travel, the countless forms this data
can take, and how reliable it is considering the 2.5 quintillion bytes of data we create each day.
Until recently this data was unusable for most. It was too expensive and difficult to sort through.
However with recent breakthroughs in web data hosting it is now accessible for anyone willing
to rent the space. This has enormous benefit for business owners, as well as consumers.

Organizations can choose to utilize their data as a whole, target a specific segment, or borrow
data. There are still many areas that need attention before big data can be fully used. What data
to focus on and how best to use it are some of the first questions to answer. However, without
this information or the correct people to interpret it, it will be easy for those who have utilized big
data in their own organization to take the lead in today’s markets.

Karens Milde, CEO / Co-Founder, Reframe Marketing 

With over 8 years of world-wide experience in Marketing and Communications, including a stint as Marketing Director, Karen Milde is all about the bottom line and marketing ROI. She is a go-getter and prides herself on being technology savvy. Reframe Marketing, a full-service integrated marketing and design consultant agency, specializes in branding, creative events, creative promotions, design, and strategic marketing that drive measurable results for your business.

Contact:

twitter: https://twitter.com/reframemktg
linkedin: https://twitter.com/reframemktg
email: kmilde@reframemarketing.com
website: http://www.reframemarketing.com/