A Brief Overview of Big Data

Ben Shoval - President, Shoval & Co.

Ben Shoval – President, Shoval & Co.

A businessman residing in Seattle, Benjamin (Ben) Shoval founded Shoval & Co in 2004. Ben Shoval invests primarily in private markets and takes a particular interest in ventures involving big data.

Big data consists of information impacting how companies allocate budgets and time as well as manage risk and monitor consumer buying habits. A business intelligence tool, it also affects product development and optimization of services. Used often in conjunction with analytics for business planning, big data ranges from machine-readable text to video and audio files. The data can comprise of constantly streaming information or capture a single moment.

Big data is valuable in any industry. Financial institutions, for example, use the information to provide quality products and services to customers as well as to safeguard their accounts through measures that meet compliance standards. The retail sector leverages big data to build upon consumer relations. Companies can use big data to determine the best approach for effectively marketing a product or service to an existing patron or devise a plan to bring back past customers.

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