Its helping the retail sector to study the buying patterns of their customer, product-based companies to analyze market reaction over a product or a product feature, financial and banking firms to prevent fraud, calculate risk, comply with federal agencies regulation and monitor KPI and logs, e-commerce businesses to run and analyze online campaigns, study clickstream data to optimize the recommendation engine, listen and analyze mood of the customer on various social media platforms and manufacturing firms analyzing IoT data. With the ability to store and report on both structured and unstructured forms of data gives an endless possibility what a data can do.

Due to the high demand for analyzing and converting data into more significant business opportunities, businesses need adequate ways to deal with it. Whether enterprises are using data internally or externally, the buzzword “Big Data” seems to be inevitable and has become a critical element in today’s data-intensive world this leads to the model of the 3Vs - high volume (amount of data), high velocity (incoming and outgoing speed of data), and high variability (range of data types and sources) which the industry continues to use today. Along with the volume of data came more challenges that require new ways of processing data to enhance decision making and process optimization and to enable us to carry out day-to-day critical customer and product-centric decision making.