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Big data refers to data sets that are too big, too complex, or move too rapidly for a business or individual to manage via traditional or manual means.
As today’s population has increasingly more access to the digital space, many organizations are bombarded with data in the form of statistics, numerical data sets, product information, and even emails or texts. This kind of data can come from employees, customers, or market trends, giving businesses important insights into their space.
Like its name suggests, big data often comprises massive quantities of quantitative or qualitative data. It can also include data that comes into the business at rapid speeds or sets that include a wide variety of different kinds of data — requiring special systems to store, organize, and make sense of the information therein.
Because big data is so complex, it can be a strain on businesses. Companies that are able to house, organize, and mine their big data, however, can gain keen insights into their operations, strategy, and customer or employee trends.