What is big data, data mining and data science?
These terms sound very impressive, don’t they? But these concepts are not as complicated as they seem. They’re revolutionary and technology infused terms that will change the way we collect data and use these data sources to make analytical hypothesis and analysis’ on where the future is heading, especially in terms of Business.
“Big data” is a lot bigger than we all think. It’s data that the human brain could never begin to fathom. These extremely large databases reveal patterns, trends, and associations, especially relating to human behaviour and interactions. That enables all types and sizes of businesses, from small to large to understand ultimately their target markets and characteristics as well as assisting with the development of the future direction and strategy of the business. Big data is basically an unimaginable and overwhelming amount numbers, but is so important in our digitally driven world today, to understand its impact as it can assist in achieving greater competitive advantages and developing unique elements to each business.
Big data, is a big business. It’s what drives the Robot in Robotic Marketer, he feeds off of data and spits out meaningful, accurate and informative marketing strategies. That lead businesses all over Australia and the world to obtain an understanding of future goals, objectives and a sense of direction for increased success.
Data mining is the process of making those records and numbers meaningful. Processing this data using the right tools such as Robotic Marketer can help businesses make well-informed decisions, such as analysing competitor trends, customer habits and highlight opportunities for business that were previously unfounded.
Data science is the new interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract knowledge and insights from data in various forms, both structured and unstructured, similar to data mining. The information gathered from data science methods enables the communication and explanation of complex ideas in simple and relatable terms for business personnel. Making it a beneficial system to further understand insights regarding the surrounding external and internal market. In terms of Robotic Marketer, I guess you could call our robot the biggest and the best scientist of them all!
As technology progresses and the implementation of AI becomes more indented into our lives, the understanding of big data, data mining and data science will become more prevalent. It will become second nature and part of our everyday language.