Think Big! Think Data! with Big Data.
Netflix keeps moving and conquer the best position, defeating its giant competitors. How? by thinking big, much big from its competitors.
Yes yes, Netflix never fails to make me astound with its amazing new web series (just kidding š), with how it manages to lead? Well, now I have an idea about it. Big Data make all of that possible.
Want to know, what exactly Big Data is? Here you goā¦
Big Data is a huge set of information which transforms the traditional methods of data analysis with understanding of human behaviour and studying semi-structured and unstructured data.
The 3 Vs of big data-
But why do we need Big Data? What made Big Data get such importance?
So letās know how Big Data has evolved:
to study the uncertainties such as consumer preferences, market trends, fraud transactions,
to identify new opportunities,
to predict changing business patterns and for making better business decisions.
Big Data Technologies:
i. Apache Hadoop: It is an open source software platform of distributed storage and distributed programming of very large data sets, to solve problems of massive amounts of data and computation. Hadoop provides data storage, data processing, data access, data governance, security and operations.
ii. Apache Spark: It is an open source distributed general purpose platform for problem computation in wide variety with action on time and more speed.
iii. Apache Kafka: It is a distributed messaging system, handles high volume of data and enables passing of messages (information) from one end to another. It integrates very well with Apache Spark and Apache Storm for real-time streaming data analysis.
Spark and Hadoop are the most in-demand technologies. Almost every company wants Hadoop and Spark professional to handle their data. I recommend you to start learning Hadoop and Big Data from industry experts.
Importance of Big Data:
Extremely huge data: The volume of data available is far from the human prediction. There is a big scope of collecting data from every aspect of life. Information from health and care, education, sports, manufacturing, transportation, customer retention, banking and securities etc.
Unstructured data: The data which is collected is not a ready to use data which needs to be sorted and assembled as per the need of analysts. Specialises tools of big data is required to sort the unstructured data for analysing and predicting the future outcomes.
Unlimited possibilities: With the advancement of technology, almost every possible predictions can be made through big data. The weather conditions, health problems, results of national and international games, many other certainties and uncertainties.
With the help of the above features, importance and technologies Big Data helped Netflix in the following case:
Netflix Leading with Data: The Emergence of Data-Driven Video
By 2009 Netflix heavily defeated its traditional brick and mortar competitors in the video rental industry. Since it has been founded in the late 1990s Netflix has changed the face of the industry and has given huge competition to the giants such as Blockbuster in large because of its easy to understand subscription model, policy of no late fees, and use analytics to hold customer data to provide a superior customer experience to grow its e-commerce media platform. Netflix has invested in data collection, IT systems, and advanced analytics such data mining techniques and algorithms for customer and product matching played a crucial role in its strategy and success. With the continuous growth of digital media, thereās a big challenge for Netflix that how its analytics, customer data and customer interaction model will play a role in future? How will it deal with more seasoned players in the market such as Amazon and Apple? What position must Netflix take to compete in the digital arena?
Solution: To stand up with the growing competing, investing and taking risks in analytical technology as a means for mining customer data for business insights can be a realistic step. Adopting data sciences and a strategical model for improving technology and digital media business can help Netflix in the future competition. With the continuous and effective use of Big Data can help Netflix to get information about customer preferences, interests and even retention by which the company can safeguard its position in the market and get new ways of achieving consistent success in the digital arena.
Conclusion:
The emergence of new trends and success in the duration of a past decade means that we have the capabilities and resources required to analyse unstructured and messy data and quickly set the effective changes and making decisions.
Big Data with its vast reach to the various sectors can result in effective productivity, profitability and huge success.
After reading the case from Netflix, I think now we all know what can thinking big with Big Data gives us?
Start your Big Data Training now and get hired.
