Can planet Mars be pondered as the second home of living for mankind? Yes, No or Maybe. Will the re-entry of Nokia with its upgraded business strategies can help it in retaining its past ethical market success? Yes, No or Maybe.
Either it may science or business or anything, today, everyone is making some sort of predictions about the future. Do you really know how these predictions are generally carried out? If not, then this article will explain you to understand how Big Data is used for predicting the future insights.
Predictions are the matter of deriving strong future assumptions depending upon the past and present available data. From the business perspective, predictions are crucial for the marketers to estimate and analyse their customer behaviours and the future market trends. Over the last couple of years, Big Data has been transforming the way most of companies operate, and looking the future. With the rapid explosion of online media, social platforms and cloud technologies, the amount of data generated day-to-day is massively increasing from Terabytes to Petabytes and giving way to Zettabytes. This data is largely serving as the raw business material for the marketers to acquire new business insights.
In conjunction with Big Data, predictive analytics has been emerged as a powerful tool for merging the real-time data with the statistical data, and to foresee the future trends. Intelligent predictions help the organisations to encash every opportunity, and also to avoid the catastrophic mistakes.
Read More: How Big Data Can Keep You Out of Trouble