1.4 Big Data – Big Insights – Notes

Big Data affects the life style of people – Food habits, health care, travelling, scientific pursuits – EVERYTHING.

Every Online Activity is recorded, monitored & analyzed.

The five characteristics that define Big Data are: Volume, Velocity, Variety, Veracity and Value.

Big Data Analytics is a complex process of examining large & varied data sets or Big Data to uncover information- such as hidden patterns, unknown correlations, market trends & customer preferences.

Uses of Big Data-

  1. Location Tracking

– Help track goods in transit.

– Plan travel route

– Real-time traffic data

Benefits to Logistics Companies in –

  • Reducing risks in transport
  • Improving speed
  • Reliability in delivery
  1. Understanding weather Patterns

Big Data helps to-

  • Forecast Weather
  • Warn impending calamities
  • Disaster Management
  • Study Global Warming
  • Predict Availability of natural resources
  1. Health care Industry

Mini Biomedical Research Devices – Smart watch, Smart belt, Smart ring, Smart shoes, smart glasses etc.

Big Data helps to –

  • Personalized, individual feedback
  • Better diagnosis & analysis of health & effects of drugs
  • Monitoring outbreaks of epidemics
  • Maintenance of patient’s past records
  • Research Promotion by Pharma Companies
  1. Banking, Finance & Trading

Securities Exchange Commission monitor financial market.

Big Data helps to –

  • Predict & prevent Cyber Crimes
  • For Personalized, individual feedback
  • Card Freud Detection, archival of audit trails
  • Handle issues in Net banking
  • SEC monitors financial Markets
  • Data Algorithms used to make Trading Decisions.
  1. SPORTS

Hidden sensors in high tech sports control the Game.

Big Data helps in-

  • Statistical Analysis of matches.
  • Recording of training, workouts.
  • Improving individual & Team performance.

Sensors help to understand game closely; field conditions, weather etc.

Video analytics help to see performance minutely.

  1. Advertising

INTERNET GIANTS – Facebook, Google, Twitter

Advertisers – the biggest Players.

Big Data helps to –

  • Track user behaviour & transactions.
  • Target people to buy, visit websites, jobs, demographics etc.
  • Use data to run targeted campaigns.
  1. Entertainment & Media
  • Target people with Right Content at the Right Time.
  • Past views & Online behaviour used to show recommendations.
  • Increase & drive more revenues.
  • V broadcasters segment viewers database to show ads.
  • Earn better revenue & provide engaging user experience
  1. Education Industry

Big data has transformed the Learning Experience

It helps to prepare–

  • Customized & Dynamic Learning programmes as per the need
  • Understand choices, difficulties, information about courses.
  • Career Guidance as per mental make-up & abilities.
  • Improve operational effectiveness & working of educational institutes.
  • Solution to the biggest pitfall – One – size – fits – All
  • Innumerable Uses of Big Data

For-

  • Scientific Research
  • Understanding Geographical Phenomena
  • Smooth working of Government machinery
  • Big Data is a Genie in our hands.

Optimum use of it for the benefit of mankind is essential today.

 

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