Companies are collecting and analysing a growing amount of data, this big data is being analysed by software which can provide insights into customer behaviour and preferences.
Companies are using data to improve their strategic decision making, and to improve their products and services, in this way they are developing a competitive advantage.
News of the successful IPO of â€˜Splunk' a big data company that raised $200 million yesterday shows the growing importance for companies to develop big data capabilities.
Here is a link to the announcement :Big Data IPO .
Big Data World Australasia 2012 is a conference which will further discuss how big data is changing business, it will be held in Melbourne (27th-28th November), Australia.