DATABASE FUNDAMENTALS
BASICS OF BIG DATA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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50%
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10%
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25%
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1%
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Detailed explanation-1: -55 percent of North American businesses have adopted big data analytics. Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result. 95 percent of businesses need to manage unstructured data.
Detailed explanation-2: -While 97.2% of companies say they’re investing in big data and AI projects, just 24% describe their organizations as data-driven. In this instance, data-driven means that these companies use the data they collect and analyze to inform their decision-making.
Detailed explanation-3: -With big data analytics, small businesses can evaluate customer loyalty and retention. Information on these data points can uncover certain buying behaviors which may help maintain the current clientele and increase overall purchases.
Detailed explanation-4: -Data analytics is important because it helps businesses optimize their performances. Implementing it into the business model means companies can help reduce costs by identifying more efficient ways of doing business and by storing large amounts of data.