If a company is aware of its Customer preferences and taste and can engage its customers the right way. If it can serve its customers and create a Loyal customer database, then what else does it need? More Data?. This is the power of Big Data.
Salesforce bets on big data with $15.3 billion Tableau buy
Seattle-based Tableau has more than 86,000 customers, including tech big shots such as Verizon Communications Inc and Netflix Inc.
The announcement discusses the Salesforce acquisition of Tableau. The strategy employed by Salesforce is to urge a handhold of the customer base of Tableau. Tableau has more than 86,000 customers. The prominent one listed is tech heavyweights such as Verizon Communications Inc and Netflix Inc. Also, Tableau shareholders will get 1.103 Salesforce shares which suggest a premium of 42%.
Salesforce focuses on Customer Relation Management i.e helping the customers by engaging and understanding their tastes and preferences. CRM platforms create a massive amount of sales data and customers had to recruit data scientists to work on this data and create models or predict outcomes. On the other hand, Tableau Software Inc. understands Data, hidden patterns, market trends, and customer preferences(Coool, isn’t it?). This creates a win-win situation for both.
This will also quicken Salesforce’s roadmap for his or her Customer 360 initiative, which helps companies gain an entire view of their customers, and more broadly their analytics initiative.
This explains how Big Data is a big deal and how it helps to gain a competitive advantage. The power of Data is rising and day by day the big world of the internet is creating 2.5 quintillion bytes of data regularly. Big data helps organizations to determine new opportunities and explore new avenues.
It is used in almost every field, starting from sectors like marketing to pharmaceutical companies to Online streaming(Like Netflix) and at last, the Income-tax Department (Sigh..) uses data-driven decisions.
Use of Big Data at Netflix
Talking about some Netflix and Chill, the other day I was chilling at a coffee shop with my friends and asked what do they love watching? TV or Netflix, and without even thinking twice they answered the latter one and over-enthusiastically told me that:
• Netflix technology learns what I like, and adjusts to my tastes
• It offers me CHOICES(Wow!)
• Netflix works on my PS3, Blu-Ray Player, Wifi, Cell Phone, iPad, PC, Macbook, and Google TV.
Do you know the reason behind Netflix’s smartness? NO? It’s Okay! Even I didn’t know about this before I read this news- You can also get this power in your Hand.
So, how does Netflix manage this? How does it suggests movies and shows what you will like? How does it give you the category that is similar to your tastes, and also presents you with the (Top 10) shows that become your favorite. All this is because of the so-called Buzz word! BIG DATA. Since now you are knowledgeable of the Big acquisition between Salesforce and Tableau Software Inc. I can tell you why I emphasized on NETFLIX.
It is rightly said that Big Data is not just a technology, it’s a paradigm shift. There must be some reason that Big companies like Infosys, Accenture, IBM, TCS, Wipro, Cognizant, and HCL( to name a few) are going Gaga over Big Data.
Big data is the structured and unstructured data– that a business has to deal with on a day-to-day basis. But from a holistic perspective, it’s not the amount of data that’s important, it’s what organizations do with the data. Big data leads to better decisions and strategic business moves if it is analyzed for insights.
The term ‘Big Data’ might be new for you, for some people it was just a big business tool. For some, it was an enigma, but the process of gathering, storing, and keeping a record of the data is being done since ages. The difference is that at first the data could have been stored very easily. Let us consider the Data a glass of water in older times, now with the advent of technology, competition, and demand the glass has become a bucket for some or you can say, a bathtub full of Data for many. To prevent Data from overflowing Big Data technology is the key. This is the importance that Data has today. Also, here I compared Data with water but, do you know why Data is considered the new OIL?
With the evolution of Data, there is a fundamental change in the way we do things. For understanding the change read the 5 V’s of Big Data:
We discussed Facebook, Amazon, and Instagram. This V means the amount of data generated through websites, portals, and online applications. Facebook has 2.38 billion monthly active users (MAU) as of March 31, 2019, Amazon has 100-million-subscriber mark and Instagram has around 800 million users. Undoubtedly, these users contribute to billions of images, posts, videos, tweets, etc. You can now imagine the insanely large amount -or volume- of data that is generated every minute and every hour.
Velocity is all about the speed with which data is being generated. Knowing that millions of Data are generated by these big giants is like a nuclear data explosion. Velocity helps to control the explosion, store the data, and also generate and process the massive Data without any chaos and bottleneck.
The term defines itself. It is the Variety of Big Data which is structured as well as unstructured data and has all the possibility of getting generated either by humans or by machines. It is all about the ability to classify the incoming data into structured data like texts, tweets, pictures & videos. Semistructured and unstructured data like emails, voicemails, hand-written text, ECG reading, audio recordings, etc, are also important elements under Variety.
Value refers to the price of the info being extracted. Having data in large digits is important but extracting something useful out of it is a different thing. This can be done by doing analysis, i.e the value incurred to get true Data should match or be less than the returns.
It is all well and good to have access to big data but unless we can turn it into the value it is useless. Find insights into the info and make benefit out of it.
Veracity means the uncertainty of Data. Data which is doubted and based on which decision can’t be taken. This happens due to data inconsistency and incompleteness. It is mind Boggling to know that because of poor Data quality U.S economy suffers a loss of worth $3.1 Trillion a year.
For better understanding and learning you can introspect your day for a minute. Just analyze your Day to day activity and you’ll realize you finish up providing your Data to different companies.
Big Data in Real Life
Disclaimer-You might be lazy and miss some activities.
You wake up in the morning and the first thing you do is you check your Social media (Facebook\instagram), You take a cab service(Uber\Ola), use Google products(Google Maps\Excel) – Depends on your Job. Or you take a break and surf your phone. Like normal humans, you open your notification too and get happy with Discounts. Products Sale – Great Deals & Discounts on Home at Amazon, and after some guilty shopping, you switch to Quora(If I consider you smart) and then back to Google… The same cycle repeats and then before sleeping you binge-watch your favorite show on Amazon\Netflix.
Your Data is responsible for the company’s Users based recommendation system, tracking the user to understand the mindset, understanding the consumer habits, and before you start rolling your eyes, Predictive analytics( This one is the last).
Even if you don’t call it a good day! It’s okay. The company calls it a good Data or should I say Big Data? LOL.
Now imagine Tableau Software Inc. holding 68000 customers already, Super Rich corporation, isn’t it? Big data is the answer to queries that many organizations failed to even recognize.
You can also have new opportunities and explore new avenues. To match your growth with the exponential growth of Big Data Market you can start by learning Apache Hadoop. It is a technology used to store massive datasets on a cluster of cheap machines in a distributed manner. But, Hadoop alone will not fetch you a good job in the industry, you have to learn Spark as well. Apache Spark is an open-source, wide selection processing engine. Apache Spark is a general-purpose and lightning-fast cluster computing platform.
Once you get a good hold on these languages and can effectively gather Big Data and expeditiously analyze, you will gain an additional comprehensive understanding of the business, products, customers, and competitors.
Do you still doubt which companies are hiring Big Data professionals?
Almost all the businesses are looking for Big Data professionals and there’s an enormous present demand. A report states that demand for big data professionals rises 78% ahead of the GDPR deadline. So, what are you waiting for?