“You can’t manage what you don’t measure.” 

Big data is an interesting subject to analyse as it is shaping the future for businesses of all kinds, the way managers approach business related situations and the way businesses market their products to their customers for example, Amazon uses complex algorithms that are improving all the time to show customers related products to one that they have bought and whether they chose to ignore it, look at it or buy it helps improve the companies knowledge of what products to advertise to prospective customers even if they have only looked at products but never actually made a purchase.

The advantages Big Data:

1. Volume – The sheer volume of data on the internet in this decade is a big advantage for companies to compete.

2. Velocity – Data can be found very easily and quickly in this day and age which helps companies to be more efficient.

3. Variety – Related to volume, as there is such a sheer quantity of data now it also means there is great variety, data can be found on more or less any subject which is very helpful for even companies that specialise in niche markets.

Summary:

It is important to remember that regardless of the advantages shown above human interpretation, vision and insight are still critical for big data to be used to its full potential because if a research/marketing department within a company interpret the data they have selected wrong then it can lead to failure. However the evidence is clear: Data-driven decisions tend to be better decisions, its just finding the data scientists who can interpret the vast amounts of data used in the best possible way.

In conclusion it is clear to see that big data is shaping the future of business management and as the article is titled – helping to create a management revolution which we are currently right in the middle of.