How can Big Data impact an industry - Flyefit Case Study
You might probably have come across the term Big Data before but what exactly does it mean? Big Data refers to large, complex sets of data which are gathered form multiple sources - Callan 2022. Due to the quantity and complexity of the data, traditional analytical software isn't able to efficiently analyse it so a different approach must be taken. How can Big Data impact an industry? Big Data is broken down into 3Vs: Volume - High volume of unstructured data from various sources. Velocity - The speed in which data is received (real-time). Variety - Unstructured data can come from anywhere and in any format. Efficient data processing enables for a business to create more personalised customer experience and new revenue sources due to analysis of demand. Let us look at one example of a business that could use Big Data in order to improve their personalised customer experience and create a new revenue stream. Flyefit Gym Flyefit is a chain of 17 gyms b...