Question

Which statement describes Big Data as it is used in the modern business world?

A) Big Data refers to any large dataset
B) Big Data is only relevant for tech companies
C) Big Data refers to the processing and analysis of large and complex datasets to gain insights
D) Big Data is primarily used for storing photos and videos

Answer 1

Big Data refers to the processing and analysis of large and complex datasets to gain insights. It is used in various industries and sectors to improve decision-making and business performance.

Step-by-step explanation:

C) Big Data refers to the processing and analysis of large and complex datasets to gain insights.

Big Data is not limited to any specific industry or company type. It is used in various sectors such as finance, healthcare, retail, marketing, and more. By analyzing large datasets, businesses can uncover patterns, trends, and relationships that can help improve decision-making, customer experience, and overall business performance.

For example, a social media company may analyze large amounts of user interactions and content to personalize recommendations and advertisements for their users. A retail company may analyze customer purchase history and behavior to optimize inventory management and pricing strategies.