The term “big data” refers to a large amount of data that can no longer be processed using traditional, manual methods. This data can be in the form of text, images, videos or other digital information. Through the use of artificial intelligence, machine learning and other analytical methods, such large amounts of data can be efficiently analysed to identify trends and patterns in the data and make predictions about future developments. Big Data offers a wide range of opportunities for companies to identify new business opportunities and improve their business operations. A good example of how Big Data can be used is our CIO COCKPIT: thousands of data points on financial information are collected and analysed in a single tool. This generates real added value for our customers.
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