Why Big Data is the biggest Asset for Modern Day Entrepreurship.
When it comes to understanding the concept of big data, it isn’t as elusive as one has made it to be. A plethora of data, strung together due to just mere existence is what compromises big data, to put it bluntly. Where there exist a ton of fancy definitions with asterisks and conditions applied that qualify this definition, this is the connotation which governs how industries, organizations and individuals today should see it and also, employ it.
Although there is no equivocation on how the availability of this abundantly detailed information is going to help organizations structure their businesses and figure out a targeted audience for their business, hence developing a responsive clientele, the fact that the maximum benefits can be reaped by business yet to surface is something that begs attention. For any new entrepreneur wanting to venture into the corporate world, his task has just been made easier. Just as the analyses and intelligent decryption of this big data helps in expanding a business, boosting the marketing and upping the advertising for targeted audiences, the new business one proposes to launch also has the advantage of empirically stable data to utilize as a survey for the success or failure of the idea and also, come up with an entire concept that is bound to succeed given the knowledge of the audience he wishes to cater to.
Business and entreprenuership are characterized by one basic aspect due to which, business acumen is an almost tangible quality which is not only recognized but also appreciated. Risk, is the definitive characteristic that marks the very foundation of a possible start up. Big data is the one tool which stands to lower this factor considerably, by providing prescient knowledge, market structure, concept feasibility and business viability for a proposed idea. If this tool is mastered and is employed effectively and intelligently, there are no limits on the advancement we have the scope to make. The analyses of this data could foretell what the civilization needs and wants in terms of technology and ideas can be built around this foretold need.
As we stand on the threshold of what seems to be the maximum we could have achieved in the field of technology and innovation, this is nothing less of a curveball which sends us plunging back into the realms of the apple that fell from the tree. The long standing impacts of this one marvel are too soon to predict but they are seeds which need to be sown already.
Check out this space to keep in touch with data science, data mining and everything big data. I am also currently preparing to write my GRE, trying to land in a good data analytics program. I will also be writing a series of articles featuring how to prepare for the Exam, handing out tricks and study plans for both verbal and quant, and also how to apply to universities as an international student.