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-
- 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
- Understanding weather Patterns
Big Data helps to-
- Forecast Weather
- Warn impending calamities
- Disaster Management
- Study Global Warming
- Predict Availability of natural resources
- 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
- 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.
- 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.
- 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.
- 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
- 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.
