Big Data

Concept and definition

Big Data

What is Big Data?

Big Data refers to extremely large, complex and varied data sets that require special tools and technologies for their effective storage, management, processing and analysis. The term "big data" refers not only to the size of the data, but also to the speed of data generation and the variety of data types and formats.

The modern concept of Big data appeared in the McKensey report: Big data: The next frontier of innovation, competition and productivity..

Big Data processing and analysis often involves the use of advanced artificial intelligence and machine learning techniques, as well as distributed systems and scalable storage technologies to handle large volumes of data in real time. Some of the key challenges in Big Data analytics include integrating data from multiple sources, identifying meaningful patterns and trends, and managing data privacy and security.

Applications of Big Data include data mining, business intelligence, social network analysis, search engine optimisation, data science and data-driven decision making. Examples of datasets that are considered Big Data include sensor datasets, financial transactions, web activity logs, phone call logs, social media data, and healthcare records.

« Back to glossary

Do you want to get in touch?

CDRs contain data that a telecommunications company collects about phone calls, such as time and length of call. This data can be used in analytical applications.
Fill the form
Share:
How to meet customer needs

It is vital to understand, identify and satisfy customer needs. In this way, our business will be able to offer products and [...]

Read More »
AI in the energy sector: main use cases

There is a consensus among executives of the world's leading companies about the crucial impact that Artificial Intelligence (AI) will have on the [...]

Read More »
What is GAMCO and why should I use it for my business?

GAMCO is a pioneer in the creation of Artificial Intelligence and Machine Learning software solutions. GAMCO's solutions are designed to [....]

Read More »
The future of lending thanks to artificial intelligence

The financial sector is constantly implementing new technologies to modernize and digitize its functions. One of the reasons for this is the processing of [...]

Read More »
See more entries
© Gamco 2021, All Rights Reserved - Legal notice - Privacy - Cookies