Essay on Big Data
A look at almost any of the marketing magazines from the last six months will uncover a large number of articles on “big data”. Examine the subject and discuss how it is relevant to companies like Tesco.
Introduction to Big Data
In 2012, the concept of ‘Big Data’ became widely debated issue as we now live in the information and Internet based era where everyday up to 2.5 Exabyte (=1 billion GB) of data were created, and the number is doubling every 40 months (Brynjolfsson & McAfee, 2012). According to a recent research from IBM (2012), 90 percent of the data in the world has been created in the last two years alone, and Internet activity in each second today will generate more data than all the data combined in the …show more content…
However, the prevalence of the Internet today naturally makes more business activities become digitalised. Large amount of information can be collected on practically almost any topic related to a business. In addition, people increase the willingness to share their personal information via their electronic devices like smart phones or tablets which allows businesses to capture behavioural patterns and utilise them for business purposes. This opens more opportunities for companies to develop their strategies based on the concept of Big Data and gain more competitive advantage. On the other hand, it is important for