"Big data" is a huge buzzword at the moment, but many businesses simply just don't know how to take advantage of the copious amounts of information that are available to them. Trend Hunter President Shelby Walsh spoke on the topic of big data at the inaugural Future Festival and recently shared her findings with The Globe and Mail.
Most people are familiar with IBM Watson for beating Jeopardy champion Ken Jennings, but this big data and analytics platform is capable of so much more. A few practical applications of IBM Watson include Cognitoys, Wayblazer and ROSS, which use features like hypothesis generation, language processing, dynamic learning and evaluation for play, customer service and making huge amounts of data much easier to understand in human terms.
How Small Business Can Use Big Data
IBM estimates that each day, the world creates 2.5 quintillion bytes of new data. That’s 2,500,000,000,000,000,000 bytes of data. That’s a lot of zeros. There is obviously a lot of opportunities for learning and growth between those zeros, but having more data does not necessarily result in more knowledge. For many,it just results in more data. This is an increasing challenge for brands as more information becomes available.
Read the full article on The Globe and Mail here.