How large must the available datasets be to make it profitable to use Big Data technologies?

The concept of Big Data refers to very large sets of data which can be subjected to computer analysis to identify the patterns, trends and relationships contained within them. The advantage of machine learning technology over human effort lies in the practically unlimited perceptive capabilities of computer systems. If the quantity of data required to be analysed in order to take the right business decision exceeds the limits of human perception, then the use of an appropriate technology becomes not only profitable, but indispensable.

At what point are we no longer capable of getting a grasp on and analysing all of the available data? When and how can we stop following the same well-worn paths and turn in a completely new direction, making use of computer-supported processes?

If the procedures that have worked well for years are ceasing to be effective, this is a sign that maybe someone is being more successful than we are at using the information concealed within large datasets. Today, when the technologies for processing Big Data – and the related disciplines of data science and data mining – are producing completely new analytical possibilities, we can extend our insight into our own business incomparably further. It is just a matter of whether this is something we are ready for. Are we asking questions about the efficiency of our procedures or the bottlenecks contained in them? About the extent to which our actions are repeated or duplicated? About whether a process designed for a new computing environment is really as effective as promised?

We should be boldly asking ourselves such questions more and more often, because the processing of huge datasets – in combination with suitably chosen machine learning methods – can make it possible to find the right answers.

Are you ready for such an approach? Are you interested in analysing and drawing conclusions from the combined set of databases that you have access to, but are not fully utilising? We will be very happy to talk to you about your doubts and ideas concerning the use of Big Data. Get in touch with us!