Business has grown by leaps and bounds in the last 30 years. With the advent of modern computers and data networks, the way that business gets done has also changed for the better. With these positive changes, there’s always a downside to it as well. Much like the Yin & Yang symbolized the duality of nature, the negatives to the improvements of business is the vast amounts of data that are now in play in IT departments across the country.
Trying to harness and make sense of all of the data is a conundrum that faces all businesses no matter the size. Utilizing Data Analytics addresses this problem and offers solutions in the way of detailed analysis of Big Data. The five V’s of data come into play here, those five are Volume, Velocity, Variety, Veracity, and Value. These five aspects are all analyzed in a high-quality Data Analyzation system.
The changes in data have reached breakneck speed in the last couple of years, with 90% of the data creation in the entire world is being done in the last two years. In 2016, global internet traffic exceeded one zettabyte of data, that’s an astronomical amount that couldn’t have been fathomed even ten years ago. Most businesses today see data analytics as having the greatest impact on returns, more so than Research & Development and Customer Management. Using a Data Analyzation system can bring success not only to your business but to your customer retention as well.