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Growing Importance of Big Data and Big Data Analysis in Business image

Growing Importance of Big Data and Big Data Analysis in Business

Big data is an emerging trend shaping the future of data-driven businesses. I hadn’t heard of it up until a few months ago in a documentary. Big data is playing a huge role in the success of quite a number of multi-national firms around the world. Some could even argue that for firms to maintain their competitive advantage in the present day business environment, they would have to adopt the use of Big Data Analysis Technology (BDAT).

What is big data? Big data is simply a term for large amounts of data sets that cannot be analyzed merely by traditional analytic methods but require more complex methods of analysis.  This data is voluminous and rapidly growing as it obtains its source from cheap and countless information-sensing devices such as our phones, cameras, microphones, radio frequency identification readers, etc.

Big data analysis when applied properly allows for more efficient decision making, spotting of emerging business trends, prevention of diseases and even combating crime. It all sounds very futuristic and complex. The truth is that it is. The era of big data is still emerging and there haven’t been any core breakthroughs on analysis. According to IDC’s Digital Universe Survey, by 2012 only 0.5% of the world’s data was being analyzed.

Value creation has however been a proven result when businesses adopt big data in marketing strategies, making decisions and evaluating situations and stakeholder behavior thereby improving efficiency, profitability and reducing risk. In fact, according to some research if the U.S healthcare system were to use big data to push efficiency and quality, it could result in the creation of $300bn in value every year. Imagine that! Some even argue that by the year 2020, big data will enable scientists predict individual behavior.

The possibilities are endless with big data and leading firms such as Amazon, SAS and Macy’s and even small firms are making it a core part of their marketing and business strategies.

Big data is here to stay so why don’t you look into it today.  Take part in this new trend and see what value it has to add to your business.

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Stock Market 101 image

Stock Market 101

We all hear news regarding various stock exchanges and come across stock market terminology like IPOs, wall street, stock, dividend, market value, etc. every once in a while. I’m also pretty sure we’ve all seen ‘Wolf of Wall Street’ at least once. Do you however know what goes on in the stock market and the basics of trading stock? No? Then this is for you.

We cannot get into the basics of the stock market without first gaining a little knowledge on stock. A stock is basically a document representing a share of ownership in a company. It signifies a claim to a company’s assets or earnings.

The stock market is therefore a platform or a trading ground allowing individual members of the public to receive part ownership in a public company of their choice in exchange for a price of course. It allows for the buying and selling of stock. Offering up a company’s stock for sale is generally a means of raising capital.

So how does it operate? Before a company can be listed or qualified to trade publicly on the stock market, depending on the governing body, there are criteria that would have to be met. The company in question will then put up an Initial Public Offer (IPO) where the company first issues out its shares to the members of the public for sale.

Imagine a company called Sam’s Hair Co. Ltd, which has recently met all the listing requirements to trade their shares publicly and issue an IPO. This would mean that shares of Sam’s Hair Co. would be open to general members of the public to buy and sell. As long as Sam’s Hair Co. remains profitable, the shares of stock bought will most likely increase in value and can be sold on the stock exchange.

So how can you make an investment in a profitable company and how do you even know if a company is going to be profitable? The answer to this is a STOCK BROKER. Brokers are agents charged with the responsibility of buying and selling shares on behalf of clients for a fee/commission.

There are typically two kinds of stock brokers; high-end brokers who offer investment advice and are relatively expensive and discounted brokers whose services are generally more affordable but do not come with investment advice. More recently however, there online brokers that work through online brokerages; they provide investment database information for their clients. Brokers trade stocks for their clients through a brokerage account. With a little research you can find brokerage firms and agents that best suit your needs and begin investing.

There are 60 major stock exchanges in the world. The largest of these is the New York Stock Exchange, which is home to quite a number of leading firms in the world such as Ford Motors, JP Morgan Chase, Wells Fargo, etc.

Investing in stock is generally risky as there is no certainty of a company’s profitability or appreciation in value of its shares. However there are those who have made millions by making the right investment. With the right brokers and right information you too can cash out from trading stocks.

 

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