“Big Data” yes it’s a very big thing in the market.
The term “Big Data” came to the world since 1990’s from John Masehey. What is “Big Data”,as the
name say data which is very huge and beyond the ability of commonly used
software tools to capture,curate, manage and process data with a tolerable
elapsed time. In 2012 “Big Data”was recognized as marketing tool when mobile broadband
and social media networks became familiar among people in early 2010’s.
In the corporate world, it also refers to the tools
and processes by which the data is analyzed and presented in order for people
to make decisions.
"Also Economist claimed that “the world’s most valuable resource is no longer oil, but data”
(2017) the value was not only about the size, but also about how it is
translated into valuable insights that would form the decision making processes."
Big Data is a combination of many characters and attributes
but in simple big data can be defined using following attributes i.e., 6V’s
Volume : Large amount of data from multitude sources
Variety : Big data has mainly three variety of data, structured, semi-structed and unstructured.
Variety : Big data has mainly three variety of data, structured, semi-structed and unstructured.
Velocity : As the word says it defines the speed at
which the Big data is been generated
Veracity : Veracity is nothing but the degree to which Big
data can be trusted.
Value : It is nothing but the value of data collected
for the business
Variability : Variability is nothing but in what different
ways data can be used and formatted
Now comes the application of Big data, it has enormous
application where almost all the fields of business has begun to use big data. Below
are the few top applications of Big data
- Travel
- Education
- Telecom
- E-commerce
- Media & Entertainment
- Retail
- Finance
- Healthcare
Above image shows the amount of data collected per minute and it simply says the future of Big Data.It’s just a glimpse of Big data. I firmly believe that
the big data, Data processing, and data science will become more vital in the
upcoming years. In future probably it would be hard to find businesses which doesn’t
use Big Data.
References:
boyd, danah and Crawford, K. (2017) Six
Provocations for Big Data. preprint. Open Science Framework. doi:
10.31219/osf.io/nrjhn.
Economist. [ONLINE] Available at: https://www.economist.com/leaders/2017/05/06/the-worlds-most-valuable-resource-is-no-longer-oil-but-data. [Accessed 26 January 2020]
https://www.business.com/articles/big-data-marketing/
BIG DATA will become more vital especially in marketing in the future
ReplyDeleteIn this digital world big data plays a major role in all the fields like automobiles,medicine,retail , etc.,
ReplyDeleteBig data, with the evaluation of smart phones, peoples are globally connected and the information flows in nanoseconds. Big data analysis and application in to business will be the future aspect of business planning and marketing. Good to focus toward analysis of big data.
ReplyDeleteAgreed, Big data is truly the new resource of the future. Just like oil, every industry will be dependent on it
ReplyDeleteWay to go Mani! Great introduction to the technology of today and FUTURE!!!
ReplyDeleteCompact and clear description on the topic. Thank you for sharing.
ReplyDeleteNicely quoted!
ReplyDeleteSuperb Mani! You really explained it in a smarter way and this really gonna help for society in all the aspects.
ReplyDeleteThanks for sharing!
ReplyDeleteThe Big Data analytics is indeed a revolution in the field of Information Technology. The use of Data analytics by the companies is enhancing every year..It is flourishing in Business to Consumer(B2C)applications.
Terabytes to petabytes of information daily, that's a huge data right?? that's what we call big data!!
ReplyDeleteThanks for sharing clear description about big data Mani and of course it's definitely gonna the NEXT BIG THING!!
ReplyDeleteBTW Your design is cool
ReplyDeleteCrisp and clear Information.
ReplyDelete