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The importance of Big Data and why all Start-ups NEED to utilise it!

Big data is defined as several different digital techniques used to process large amounts of complicated data that could not be done manually (Fischer, 2020). These digital techniques include artificial Intelligence and machine learning systems (Ward and Barker, 2022, p.2). The use of big data techniques to process data is important to companies as it allows companies to better understand this data to gain a better understanding of the behaviour of their target audience. The companies can then use this data to improve their business strategies. An example of a big companies who utilised big data effectively was Just Eat and they achieved great success from it. Therefore It is important for start-up companies to utilise it early on to gain a better understanding of there target audience and tailor any content they make to meet their customer’s needs. What is Big Data? Big data systems, as mentioned previously helps companies process large amounts of data which helps them gain a be...

What Start-Ups NEED to know about big data's velocity and variety!

In one of our previous blogs, Start Ups on a Budget explored the importance of big data for start-up companies and how valuable of an asset it can be. In a later blog we delved further into this topic by looking at the first of the 3 V's that define big data being volume. To show you how valuable big data can be for your start up business we will look at the other two Vs which are velocity and variety. Velocity So by now we all know what big data is and how it can manage large volumes of data which could not be done manuelly. This was the first V however what I find to be even more interesting is the second V which is velocity. Velocity relates to how the data is acquired in real time which is a tremendous attribute (Coforge, 2022). Think of a large company like Meta (previously known as Meta), Instagram or YouTube and the global reach each platform has. With such a large global reach each platform comes a higher volume of people creating a continous flow of data. Taking time dif...

What is Fintech and why you should include it in your company

Thinking about technology may appear to be costly for start-ups, but it isn't. As entrepreneurs, we must be conscious of the emerging technology that the outside world provides to help our businesses grow. Fintech is an emerging technology that refers to financial technology. Examples include online payments, real-time transactions, online bank movements on your devices without the need to visit the bank, or whenever you use your card for payment, order online, or create vaults using Revolut, Google Wallet, or PayPal. That is why it is critical to understand because it is a part of our daily lives. Fintech is already reshaping the small business sector, and there's no doubt that more will follow. I n fact, fintech has been rapidly expanding. According to the report Global FinTech Market Size, Status, and Forecast 2018-2025, "the global fintech market will reach $124.3 million by 2025 at a compound annual growth rate (CAGR) of 23.84 percent." Payme...

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