Big Data Is Vital For Business Making Decisions
Big data has become a vital component in how many businesses evaluate the market and make decisions. This will continue as the number of electronic devices on the market continues to grown substantially and the way consumers interact with technology becomes increasingly ingrained in their lives. Simply put, technology surrounds us and is constantly collecting information about our shopping patterns, search activity, social interactions, and even health.
It wasn’t long ago, however, that we were just beginning to see the potential impact of big data on our lives.
The Devices That Got Us Where We Are
Since the the first personal computer in the 1980s, data has taken on a new meaning. It is the record of our activities when interacting with technology. The more we interact with technology, the larger that record becomes. And what was once considered impossible in the 80s due to cost and the limits of computing power has now become commonplace.
The $700,000 1 GB hard drive now costs less than $1 and is the size of a fingernail. The once bulky, short range, and incredibly expensive mobile phone is now a mini-computer the size of your palm, sitting in your pocket for less than $200. Faster processing speeds, cheaper storage, and mobility have combined to create devices that capture more data every day than was recorded in all of human history through 1900. It is astounding, and it is powerful when used properly.
Impact of Big Data on a Global Basis
Because costs decreased, mobility increased, and technology became a part of our daily lives, it has created a global economy in which anyone can interact with anyone else around the globe in a matter of seconds. For businesses that rely on comprehensive information from diverse populations, this is incredibly important.
Computers are still expensive and broadband Internet access rare in many countries, but low-cost, portable mobile phones are not. Cellular service has permeated much of the world and this allows connectivity on a level unheard of only 10 years ago. It’s what has made mobile data collection such an important part of how non-profits, medical staffs, and businesses operate.
Applications with Today’s Technology
Magpi has been a leader in the development of mobile data collection software for several years, bridging the gap between analog field data collection techniques and the technology available to field workers in remote locations. With a toolset that allows users to quickly collect data, share messages with large groups of people, and interact with fellow researchers and field workers around the globe in a few seconds, Magpi creates a connection that enables a number of fields to tap big data in incredibly effective ways.
This is what the big data revolution looks like and it is changing the world. To learn more about big data and its impact on businesses of all types, download our new white paper, Big Data and Business below.
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Also published on Medium.
Big Data and Business
With the rapid increase in connectivity in the global population, we have more data than ever before. This data, when properly harnessed allows industries to make smarter, more efficient, profitable, and at times life saving decisions.Download the White Paper