Every time you open your laptop or pick up your smart phone, you have the ability to access a wealth of information. The internet has changed how we live so profoundly that many don’t even consider a library or even a book as a source of information. Instead, the internet is our go-to for answers. How many times have you heard the phrase “just Google it”? Google and other search platforms like Bing or Yahoo, give us unfettered access to the world’s data. We can look up just about anything from popular attractions in Seattle to the effects of catnip on cats. People are even relying on Google for medical information rather than seeking out a doctor or other professional. It’s all there. All the information we could ever need. But what do we do with this data, how do we make it work for us?

Let’s take WebMD as an example of data. On this particular website we can enter in a list of symptoms and search for possible causes and remedies. However, without the context or the expertise of a medical doctor the data we receive in return can be incredibly unhelpful. For example, I used this site to list pretty basic symptoms, a fever, cough, and runny nose – to the average person this would sound like the flu. However, using WebMD I received answers that ranged from influenza to pneumonia and lung cancer. The likelihood that I have lung cancer based solely on these symptoms is pretty low, so how helpful was this information? Not very.

A doctor would give much better results based on these  symptoms by applying them to diagnostic logic. They use their years of schooling and research to better understand our symptoms and give us a more accurate conclusion. Although the information found on WebMD may be technically correct, it lacks value without the context and logic that a doctor would provide.

The world of Big Data works very much the same. Large amounts of information are stored in Data Warehouses where is can be accessed (usually for a fee) and if the inputs match the data will be spit out. However, the amount of data that is stored in these large warehouses is unfathomable. It is estimated that hundreds of thousands of terabytes of data is added every day, with no one knowing exactly how much data is being stored every day.

So how do you use this data to your advantage? Data aggregators use functional software to add context to this data and turn it into relevant information. Businesses are then able to observe and make diagnoses and decisions based on this data turning it into something useful. The inputs are attached to business logic to make them make sense for your business, your customers, or your operations. This allows businesses of all sizes to have access to information that is meaningful, and useful.

Once analyzed and parsed using business logic, big data creates limitless possibilities including the ability to automate routine tasks, gain insights into customer preferences, use geo tagging, analyze risk and perform strategic hiring practices. The data becomes information, and information is powerful. This information gives businesses the ability to stand apart from their competition in a myriad of ways. The sky is the limit in how this information can be used.

The most common benefits realized from information gathering include reduced cost, increased productivity, new product development, better decision making, detailed root cause analysis, better risk analysis, detection of fraud, and most importantly, the better understanding of customers.

Partnering with an organization that specializes in software development, implementation, and maintenance gives those with less technical abilities the power to access this valuable information as well. Good software partners will work directly with the business to identify needs, obstacles, and goals, creating a partnership that works together to get the right data, analyze it, and present it in a way that is easy to understand, interpret, and manage. I encourage you to get out there and find a partner that is willing to work alongside you, one that has your business’s best interest at heart.