Big Data refers to the capture and analysis of large bodies of data generated by powerful new technologies. Its analyses provide us with key business insights so that we can better determine patterns, predict future outcomes and make more responsible decisions for our businesses.
In many organizations, the use of Big Data started in the HR sphere because companies needed to better understand employee recruitment, performance and mobility. Now, though, business owners are clamoring for Big Data implementations in every part of business operations and are seeking new ways to embed analytics into everything we do.
Within the next 10 years, the following examples will be mainstream uses of Big Data in the business world: