![]() ![]() “However, sheer data volume alone is not enough it’s how that data is analysed and used that creates competitive advantage,” said Jeff.įor example, pioneers in healthcare are analysing the outcomes of pharmaceuticals when they’re widely prescribed, rather than just in limited clinical trials. “‘Big Data’ simply refers to large pools of data that can be brought together and analysed to see patterns that help businesses make better decisions.”Īccording to 2012 research from the McKinsey Global Institute and McKinsey’s Business Technology Office, the sheer volume of data generated, stored and mined for insights has become economically relevant to business, Government and consumers. Jeff Robson, Access Analytic Principal Business Analyst explains. What is “Big Data” and why is it such a big deal?įor a year or two, management pundits around the world have been nominating ‘Big Data’ as the ‘next big thing’ – and the key to sustainable competitive advantage in a brave new world of business.īut – what is this magical ‘Big Data’, and more to the point, how can you practically harness its power in your business? Free Online Financial Modelling Training.Solver Corporate Performance Management.
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