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What is big data and why is it important for businesses?

What is big data and why is it important for businesses?

In today's data-driven world, information is king. But the sheer volume of data collected by businesses can be overwhelming. This is where big data comes in. Big data refers to massive and complex datasets that are difficult to process using traditional methods. It's not just about the amount of data, but also the variety – structured data (like numbers in spreadsheets) and unstructured data (like social media posts and emails).   How big data is acquired Big data acquisition is a fascinating beast. Unlike collecting smaller datasets, it involves wrangling massive amounts of information, often with diverse formats and arriving at high speeds. Here's a breakdown of how companies typically acquire big data: 1. Internal Data Sources Transaction Data:...

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