Using Big Data in International Business

The term BigData causes a lot of controversy among specialists, many of whom note that it only means the volumes of accumulated data, but do not forget about the technical side, the considered direction includes technologies for computing, storage, and also service services. Big Data is a term that denotes technologies for processing large unstructured and structured data to obtain results that are understandable and useful to humans. In business, Big Data is used to support the adoption of transformations by a manager (for example, based on an analysis of financial indicators from an accounting system) or a marketer (for example, based on an analysis of customer preferences from social networks). By themselves, Big Data algorithms appeared with the introduction of the first mainframes (high–performance servers), which have the necessary resources for operational data processing and are suitable for computer calculations and subsequent data analysis. As the number of embedded computers rises due to falling processor prices and the ubiquity of the Internet, so too is the amount of data transferred and then processed (often in real time). Therefore, we can assume that the importance of cloud computing and the Internet of Things will increase in the coming years. It should be noted that Big Data processing technology boils down to three main areas that solve three types of tasks: (1) translation and storage of incoming information in gigabytes, terabytes, petabyte, etc. for their processing, storage and application in practice; (2) structuring of disparate content, namely: photos, texts, audio, video and all other types of data; (3) analysis of Big Data and the implementation of different methods of processing unstructured data, the creation of various analytical reports. In essence, the application of Big Data implies all areas of work with large volumes of the most disparate data, constantly updated and scattered across various sources. The goal is quite simple – the most efficient work, the introduction of new products and increased competitiveness. In this article, we will consider the features of solving the problems of using Big Data in international business.

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