Do you know what big data is? Why is it essential for the business? In this article, there is a big discussion about big data. It is a term which describes number of data. It can be structured and unstructured. It also inundates the business daily. But data number does not matter in the organization. What they do with this data that matters a lot. In machine learning projects and taking a better decision, big data plays a vital role.
It is essential that every organization strategize its data and do the planning of its usage and also secure safely. Big data consists of four key attributes such as volume, variety, velocity, value, etc. They are also called as a four Vs. of Big Data.
This type of voluminous data can be generated from different sources like business transaction system, customer database, medical record, mobile application, social network, and much more.
Big data and its business impacts
How big is Big Data?
There is no size for big data; it is a very vast and complex concept. In this information and technical features are combined. It also has a vast and ever-growing volume. But nowadays organizations are adopting new technology which helps them to make the decision making faster. Compare to that Big Data solves the problem very seamlessly.
The big issue is the collection and storage of big data. Through some new technologies data can be controlled, those are Hadoop, cloud computing and Spark.
Big data also classified from the resource. Those are:
- Social networks: Data generation can be done through Facebook, Twitter, Instagram, Picasa, Flickr, YouTube videos, internet search and much more.
- Traditional Business system: Traditional includes tables, transactions, relationships, etc. Data also can be generated by public agencies, a record of a medical report, commercial sales, net banking, e-commerce sites, and credit cards.
- Internet of Things: This is entirely generating data from a computer. This generating can be done from sensors, home automation, mobile phone location, satellite images, and computer’s weblog.
Big data Processing:
Whatever you do your internet world everything can get accumulated and make it as data. If you listen to music, read e-books, data browsing, online transaction, etc. everything gets stored. No activity is in the world which does not generate data.
Many users use social media and organization to collect those data in every millisecond. Each conversation get stored in the different source which saves cost and time. It is completely secure.
The main attractive thing, data get stream its exceptional speed, and it has to get completed in a definite time.
If you want to deal with the data torrents, then some new concepts have come in the market, such as sensor and RFID tags. Nowadays technology helps to analyze the generated data before it storing to the database.
What all type of data is available and their values for the organization:
You will be using various types of data on a daily basis. Those data are in some format like structured, unstructured, numeric, documents, statements, videos, some financial transaction and much more.
Before for searching the data, it was only one approach that was the traditional approach. But now all database tables come under financial data. According to the research, there are 80% of the data is unstructured. Big Data technology help to analyze all data together in a quick manner.
For example, google drive not only store images, document, PDF, videos, etc. and also processed those data. They are managing also its another one responsibility. Other than this, in this digital world new technology like Cloud Computing, Hadoop has taken place. Organizations are happily adopting these technologies.
The importance of Big Data:
This point will make you understand how to use big data? You can source data from anywhere which will help you to reduce cost, reduce time, new product development, effective decision making, etc. When you work with big data with high analysis that time your business related tasks are:
- It will help you to find the reason for the failure, issues, and defects in the actual scenario.
- Give an idea to generate the coupon which makes the customer buy more.
- It will clearly show the risk portfolio in a minute.
- It will also help you to detect the fraud behavior in your organization. This will be helpful for you to save your business.
Application of Big Data:
For any company, data keeps its significant share. For running a company data is a very necessary component, this is the reason every organization must know to use data effectively. They also must remember to collect and secure it. For this, some latest technology will be helpful. Big data also can be used sciences, agriculture, transportation, financial transaction and much more.
Big Data contrasted with small data. Big data’s volume and format can be used efficiently for self-service analytics. One very common quote is available that is “big data is for the machine; small data is for people”.
Who are all useing Big Data?
Here you will get the name of the organization who uses Big data very effectively. Those are:
- Heath care
It is important to know that big data primary stage is raw form, so you need to process and analyze it. Many apps even share their data with others, but they have certain norms which they follow. For example, Facebook also shares its data in the form of information, searches, likes, and promotion. Mostly Facebook shares its data with Google. Big Data strategy makes sure that assets must be converted into tangible information which will be helpful for the diverse domain in business.