big data

The challenges of Big Data for businesses


Big Data is one of the major challenges of the coming decades, so much so that companies are already starting to organize themselves to take this new phenomenon into account by devoting entire divisions to data analysis. While in the past, statisticians and data analysts used to collect data simply to analyse it, from now on taking it into account requires a real study and as such revolutionises all the methods used until now.

On this topic, we talk about data science, which is about both analyzing information and making decisions based on it, with the goal of generating profit and ensuring that we are as competitive as possible. The emergence of Big Data is therefore leading to a real change in the business and anyone who uses it wisely will gain a considerable lead over their competitors.

The Origin of Big Data

The technological changes that society has undergone in recent years have greatly accelerated the generation of data. The advent of the web and the evolution of the Internet are undoubtedly the main reasons for the high volumes of data generated. As a result, the evolution of computer languages has allowed the generation of data. emergence of dynamic content which are now everywhere on the web (blogs, social networks, e-commerce, applications).

If the internet had remained on a static phase, social networks as we know them today would never have been able to generate so much data, or even exist. For example, Facebook, which now has more than a billion active users, would have 500 terabytes of data passing through its servers every day thanks to dynamic content. But Twitter, Instagram, LinkedIn do the same, to which one must also add the number of devices that households have in their homes (telephone, laptop, tablet) and which also contribute greatly to the data proliferation .

Web 3.0, which refers to the whole of home automation capable of connecting the objects in a house so that they meet specific needs, also generates a significant number of them. The phenomenon goes even beyond the home, since means of locomotion such as cars and airplanes are objects that also constantly deliver important data.

As you can see, we live in a connected world, with billions of pieces of data passing through every day, each one more important than the next. Big Data is therefore the means for companies to organise this data among themselves. and to extract the most relevant ones in order to develop decision making capabilities of unprecedented precision.

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This formidable tool made available to companies enables them to understand and manage their business based on tangible results and thus give a more scientific dimension to their activity. This is why the future managers of tomorrow, as data managers, must mastering the foundations of Big Data by forming to be directly operational. Christine Legner and Olivier Verscheure, two recognized experts in this field, are also at the origin of a data training delivering a University Certificate in Data Science and Management (CAS) . This innovative training course organised by HEC Lausanne aims not only to understand the various issues inherent in the science of data, but also to provide concrete means to collect and exploit them correctly, in order to gain a strategic advantage.



Big Data at the service of businesses: the Netflix example

It has been a few years now since the awareness within companies has been raised. All agree that data processing can generate strategic opportunities hitherto untapped. If these data were previously used only as a support, they are now at the centre of activity and accompany leaders in their decision-making, in the deep knowledge of their activity, while giving them the means to renew themselves. To be convinced of this, just take the case of Netflix, an American video streaming company that has been able to increase its turnover thanks to Big Data, but also to innovate.

Watching video content on Netflix involves creating a personal account and logging in each time. This simple process allows the company to generate a lot of data about its customers, for example by collecting the time spent on the platform, by day, week or month. What's more, from your various sessions, the platform can find out what your tastes are in terms of series or films and can therefore customise its interface individually, based on previously viewed video content.

This data makes the platform more intelligent. This is why we have created the "Subscriptions" section, which can suggest to you which titles you should choose and thus encourage you to tacitly keep your subscription. Although recommendation algorithms are not new, the use of Big Data allows you to refine them to incredible degrees of accuracy .

Thanks to Big Data, Netflix has also been able to innovate and literally set itself apart from its competitors by creating original products (series and films) from its own data. The House of Cards series is an example of this, as it was created thanks to the multiple correlations found between political series enthusiasts and lovers of the world of David Fincher. Since then, Netflix's original creations have continued to come to life and their success has not been long in coming. Since then, Netflix has proven how much Big Data is a powerful lever in the service of companies. As long as they know how to effectively transforming this entire data stream into strategic information The latter have undeniable advantages in their hands, which they can then dispose of as they wish.

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