Big data: The formula for better decisions and strategic businesses

Cath Sandoval
Copywritter

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Today’s products and services depend on machines to automatically perform tasks such as reading documents, recognizing faces in images, understanding the emotion contained in the tone of voice of a telephone conversation, answering a customer’s questions in a chat room, predicting the energy expenditure of a factory, inferring which movies or songs each person will like best, among others.

And what do all these tasks have in common? Well, they require collecting and perceiving everything that happens in the environment through data acquisition, and all of them need to process the information for its interpretation and decision-making.

This is the origin of Big Data, a term that describes the large volume of structured and unstructured data that occupy large areas of business. What is really important about Big Data is what companies can do with the data, since by analyzing it they can obtain ideas that lead to better decisions and strategic business moves, as shown in the article “Big Data: What is it? Its importance, challenges and governance“.

The first objective is to manage the large amount of data, i.e., once Big Data architectures allow the storage and processing of thousands of petabytes of data, the challenge is to move on to the phases of data acquisition and interpretation to extract knowledge.

The Internet of Things (ioT), is a great contribution to be able to collect data, while cognitive computing, brings intelligence to extract knowledge.

The rise of M2M systems

M2M or Machine to Machine within the framework of the Internet of Things has promoted an exponential growth in the exchange of data between the machines themselves, moving from a traditional model where sensors obtained information that was then used by humans to a model where machines are autonomous, since sensor data are not “consumed” by humans, but are part of the network’s perceptive system.

There is currently an “ideal storm”, born thanks to the convergence of multiple technologies (Cloud, ioT, Big Data, among others), with which companies will be able to revolutionize themselves to more personalized services and products.

LISA has a technological fusion with which we provide the insurance industry so that they can leave aside the conventionality of their processes, offer new products and services and strengthen the relationship with their policyholders.

Visit our products section and learn more about our technologies.

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