By Mark Bonchek | May 3, 2013
You may not know this, but Big Data has a little brother. And together, Big and Little Data are far more powerful than Big Data alone.
Big Data is what organizations know about people — be they customers, citizens, employees, or voters. Data is aggregated from a large number of sources, assembled into a massive data store, and analyzed for patterns. The results are more accurate predictions, more targeted communications, and more personalized services. Big Data is what enables banks to predict credit card fraud by analyzing billions of transactions, marketers to understand customer sentiment by analyzing millions of interactions on social media, and retailers to target promotions and offers by analyzing millions of purchases.