Its net sales in the US was $280.5 billion in the year 2019. Well, the reason why we are focusing on Amazon use of big data is because this is the e-commerce giant that has more than 2.5 million sellers active currently and selling on the digital marketplace. You might be thinking why are we talking about Amazon here? If analyzed correctly, it can help you in identifying root causes of failures, issues, and defects in real-time, or recalculating risk portfolios at one go, or detecting fraudulent behaviour before it hampers the efficiency of your company.
Big data can be analyzed for insights that help in reaching better business-related decisions and allows the professionals in the company to make strategic business moves that lead to the company’s growth.Īs mentioned above, the importance of big data is not attached to the quantity of data your company has, but how you act upon that data. This large volume of data is collected by businesses on a daily basis but more than the volume of it, what one organization decides to do with this data is what is important. What Exactly is Big Data and Why is it Important?īig data is a term that is used to describe large volumes of data – both in structured and unstructured forms.