Data, information and Big Data: basic concepts

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It is important to understand the difference between data, information and Big Data, and what place they occupy in an organization's data management.
Now that we are fully immersed in the Data 4.0 era , the importance of data is not in question: it is increasingly central to companies' strategies. In this context, it is important to understand the difference between data and information and why they are increasingly playing a leading role in an organization's data management .


It is true that these terms are closely linked. But beyond some similarities and without going into technicalities, data and information are not synonyms.



The meaning and its impact on business
Why are the terms real-time data and information different?

Data: When we talk about data, we are referring to a symbol or a overseas chinese in uk data of data that has no meaning on its own. What we mean by this is that if we have a piece of data in isolation, without it being in any context, it normally does not provide us with any message, so we will not understand what it refers to. Usually, a piece of data can describe a specific fact or situation, but it will not offer us a compelling message for us to understand, much less make a decision. An example of data could be a date, an amount or an image.

Information: Information does make sense on its own. Information is actually a set of data processed, organized, structured or given in a certain context to make it useful. Relevant information is what will allow us to answer the questions we ask ourselves at the business level, for example: Is this product profitable? What is the reason for the increase in demand? What is the cost of acquisition per customer?


From Bit... to Big Data: The term Big Data has become very popular, but what is Big Data really?
The differences and ways to take advantage of them
By understanding the definitions of each of these concepts, we must know what the main differences are between them.

First of all, it must be said that data is usually much smaller than information; the latter will be more extensive. This happens because data is mainly used to compress information and have a greater storage capacity. If we store data instead of information, we will surely be able to obtain a greater number of answers for our business.