Simply put, Big Data is the collection and storage of massive amounts of data. IDC defines Big Data as projects collecting 100 terabytes of data, comprising two or more data formats.
Now comes the most-important and hardest part: Finding meaning out of that geyser of data that companies can act on and — this is key — converting into revenue.
By analyzing all the information, sales managers can quickly understand sales reps’ results, view new contracts lost or signed and react to how actual performance compares to plans set months earlier. Help-desk staff can see how individual customers affect sales and profit, showing them which customers to focus on and which cost too much to support.