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Data shows that harnessing the power of big data can increase your operations margin by 60%. This means that leveraging big data can make running your project workflows and processes more efficient.
In this guide, we’ll look at the positive impact of big data on project management and its role in helping your team increase efficiency.
What is Big Data?
Big data refers to complex, large information that grows rapidly and exponentially with time. This makes it almost impossible to store or process data efficiently using traditional data management tools.
The characteristics of big data include:
Volume. Big data comes from various sources such as smart devices, videos, social media, business transactions, industrial equipment, and more. Big data tools can store voluminous information coming from these sources.
Variety. Data comes in different formats, from structured and numeric information that you find in traditional databases to unstructured financial transactions, text documents, emails, and others.
The right big data software can take these various kinds of data and bring them together for analysis, allowing you to extract valuable insights.
Velocity. Massive and continuous streams of data to your business happen at incredibly high speeds. With big data tools, information processing and analysis …
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