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What is Big Data?
The SAS Institute defines Big Data as the mass amount of data resulting from a business’ various daily activities, notably growing to such an amount that traditional data processing applications are overwhelmed.
So, What’s the Big Deal?
Often seen as limited as your imagination, Big Data is a notable tool for businesses seeking to optimize their processes, scale their activities, and push their financial outcomes. And for good reason – Big Data can provide new insights between connected departments or strategies, while also highlighting hidden bottlenecks or issues.
Managing and Utilizing Big Data to Optimize the Supply Chain
The idea of using data as a tool to drive business decisions began in the 1980s. Since then, advances in hardware and software technologies have dramatically improved our ability to work with data causing radical shifts in how we do business. According to recent studies, the amount of data that is collected daily doubles every two years.