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What Is Big Data?
Big Data is excellent for finding correlations between variables, but the risk of confusing correlation with causation is cautioned, especially when dealing with large numbers of variables.
This study examines the key antecedents influencing the private firm’s intention to adopt big data analytics (BDA) in developing economies.
Big Data is not a computer solution but a viewpoint that has existed since 1997. However, it has not been until recently that the necessary computational capacity for its widespread application has been available. In addition, it is highlighted that the exponential growth of data, driven by the Internet of Things, has been a critical factor in expanding the use of Big Data in the pharmaceutical industry.
How Big Data Work?
One of the main characteristics of Big Data is its capacity for growth and scope under the rapid advancement of the Internet of Things. Once devices acquire storage capabilities, they can accumulate and share data that holds vital information about their operation and performance.
The data may be massive, but that does not mean that the task of managing it is too. With proper data management, it is possible to eliminate tedious procedures such as the transcription of paper documents for digitization. Once this data is safely stored, it is possible to centralize and automate control over market behavior, customer service, use of inputs, and human capital, among many others.
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