Creating a Data-Driven Culture

What is Big Data?

"Imagine a giant toy box, filled to the brim with lego bricks, duplo blocks and your favourite characters. Sounds exciting right?

You could build all sorts of things, castles, forts, fire engines and even pirate ships ...

… Say you wanted to build a fire engine. You would need some red bricks, a fireman model, wheels and the ladder for the fire engine.

In that jumbled up box it would take you all day to find those bricks.

It’s the same when it comes to Big data. There is a lot of useful information in those huge data sets but finding it can be difficult."

Andrew Jennings, chief analytics officer at FICO

What are the differences between Big Data & Small Data?

Big Data

To companies, uncovering the hidden patterns of potential customer behaviour is appealing. Therefore, people want to get their hands on big data analytics. However, amassing huge information and analysing it accurately is not easy.

It often requires world-class scientists, advanced technology analytical tools and significant financial resources.