All posts tagged: big data

The Buzz on Big Data

In a world that is becoming progressively digital, the term “big data” is becoming increasingly ubiquitous. In 2001, industry analyst Doug Laney articulated the widely accepted definition of big data as the 3 V’s: Velocity, Variety and Volume. Velocity refers to the unprecedented speed at which data is streamed, variety relates to the way in which data today comes in a range of formats and volume alludes to the sheer volume of incoming data online. Indeed big data is so “big”, marketers simply can’t afford to ignore it. Big data is transforming our world and revolutionizing the landscape of marketing in the process. Big data presents both invaluable opportunities and advantages for marketers as well as obstacles. According to a study conducted by eMarketer, 61% of those surveyed claimed that big data is both an opportunity and an obstacle, and for many there is still a long way to go when it comes to harnessing big data and using it in the decision making process Lets start with the benefits and opportunities of big data. …