Big Data & Analytics
A popular term used to describe the exponential growth and availability of data, both structured and unstructured. This Big Data may be important for business and society – more data may lead to more accurate analyses. In 2001, industry analyst Doug Laney articulated the now mainstream definition of big data as the three Vs of big data:
- Volume – How much of structured & unstructured data from multiple sources
- Velocity – Streaming data at unprecedented speeds
- Variety – Unstructured data from text documents, email, video, audio, stock-ticker data and financial transactions
The real issue is not that you are acquiring large amounts of data. It's what you do with this Big Data that counts. The hopeful vision is that organizations will be able to take data from any source, harness relevant data and analyze it to find answers that enable:
Aventurine Technologies partners and immensely aids its Customers by combining Big Data and high-powered Analytics. With this collaboration it is possible to:
- Determine root causes of failures, issues and defects in near-real time, potentially saving billions of dollars annually.
- Optimize routes for many thousands of package delivery vehicles while they are on the road.
- Analyze millions of SKUs to determine prices that maximize profit and clear inventory.
- Generate retail coupons at the point of sale based on the customer's current and past purchases.
- Send tailored recommendations to mobile devices while customers are in the right area to take advantage of offers.
- Recalculate entire risk portfolios in minutes.
- Quickly identify customers who matter the most.
- Use clickstream analysis and data mining to detect fraudulent behavior.