Big Data and What It Means
March 31, 2013
If you are reading this article, then chances are that you live a significant part of your daily life online. Each day, collectively, we trigger millions and trillions of transactions on the Internet.
Whether it's uploading pictures, watching videos or buying products online, each of these activities becomes just another data point in a vast, multi-dimensional web of data sets.
According to IBM, every day, we create 2.5 quintillion bytes of data — so much that 90 percent of the data in the world today has been created in the last two years alone.
The humungous volume of data we are creating as consumers is providing organizations across the globe an unprecedented opportunity to collect, mine and analyze this 'big data' to make correlations and draw intelligent conclusions, with the goal of providing more targeted recommendations, shortening sales cycles, improving productivity and bringing more efficiencies into their processes.
The term Big Data has come to represent not just the information being analyzed, but the entire ecosystem that goes into facilitating storing, researching and analyzing this data.
Big Data solutions are equipped to handle much more than the sheer volume of data. These are built to also handle the tremendous velocity and variety of data.
Big Data systems factor in transactions even as these are being generated, i.e. in near real time. Variety addresses the fact that the content generated by consumers can be very complex in nature, including but not limited to comments, pictures, ratings, blog posts and more.
In a research and infographic published by Microsoft Corp. in 2011, nearly three quarters of the businesses surveyed at the time had started planning their Big Data strategy.
Fast forward a couple of years, and a multitude of Big Data solutions are now available and being used by a large number of organizations to derive insights into how their products and services are being consumed and to execute distribution and promotional strategies based on those consumption patterns.
As a consumer, the prospect of each of our activities, preferences and recommendations being tracked online can challenge our inherent sense of anonymity that flows from being just one amongst billions of human beings connected to the Internet.
However, Big Data is here to stay because by bringing efficiencies into complex systems, it ensures big benefits not just for organizations, but for consumers as well. And we can derive some comfort from the fact that there is a humanizing aspect to Big Data.
Businesses need well-trained teams of smart human beings to understand the quirky factors and calculations that invariably skew data and to make informed decisions based on their understanding of both the real, as well as the virtual world.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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