A trend that has grown exponentially in the past few years is Big Data. Hidden inside these seemingly huge amounts of unstructured data junk are opportunities that can help understand costumer preferences, market trends, and other valuable information that helps businesses grow. Check here to stay abreast of different types of big data and their sources.
But why has Big Data become imperative all of a sudden? Data was always present but never was it so easily accessible nor present in such great volumes that it mattered. With the internet becoming such a huge part of our lives, we leave our technological footprint all over the internet ecosystem. Just like a forensic analyst would unearth clues from a crime scene, companies use these various technological footprints and build our profiles, knowing exactly what we want to shop or where we would like to eat.
Progressive organizations use Big Data from social media analytics, web-browsing patterns, industry forecasts, and existing customer records to analyze, visualize, and base their business decisions.
Big Data is now used across sectors to solve business challenges, transform processes, and bring about innovation. Retail, healthcare, banking, government, insurance, telecommunications, and even companies involved in national security use the three pillars of Big Data strategy—Trust, Availability, and Speed, to make improvements.
Hence there has been a surge in the hiring of data analysts who use sophisticated languages to analyze tons of data to develop future products or tap into the internal HR data of organizations to assess employee engagement and retain talent. In healthcare too, it has helped improve patient outcomes while making care more affordable. The application of Big Data was well demonstrated by Google when it was able to predict the spread of the deadly H1N1 virus by examining regions where people were searching for flu related terms such as ‘cough’ and ‘fever’.
Big Data is now among the game changers, capable of transforming the entire face of technology as we know it. Being a part of this revolution will help you shape the future because Big Data is the future, and the dawn of a new era.