Big Data, How it Makes Our Life Easier And The Reasons Why Is It So Important!
We as a whole use cell phones however have you at any point considered how much information it creates as writings call messages photographs recordings searches and music.
Around 40 exabytes of information gets produced each month by a solitary cell phone client currently envision this number increased by 5 billion cell phone clients that are a great deal for our psyche to try and the procedure isn’t it this measure of information is a considerable amount for conventional processing frameworks to deal with and this monstrous measure of information is the thing that we term as large information.
A variety of enormous data is being generated at an extremely fast pace in
various sectors, therefore, analyzing big data has become extremely crucial and inevitable as a result big data analytics is being adopted throughout the globe to gain numerous benefits from the data being produced.
WHAT IS BIG DATA?
Let me tell you why so just like the entire universe in our galaxy said to have formed you to the Big Bang explosion similarly data has also been growing
exponentially which is leading to the explosion of data so this can simply be termed as big data and you know that In 2018, we are creating about 2.5 quintillion bytes of data every day and one quintillion amounts to around 10 raised to the power of 18 bytes so you can do the math and imagine the amount of data that we are creating every day and this data is coming in from various sources whether it is from social media from banking sectors from governments from various other institutions all right and this data is not in the same format so it is coming from various sources so it is in different formats.
WHAT ARE THE DIFFERENT CHARACTERISTICS ASSOCIATED WITH BIG DATA
So here I have represented five such characteristics as follows:
1.Volume
volume is nothing but a huge amount of data that is being generated or the enormous amount of data as we previously saw in the section that how data was coming in from various sources like social media banking sector governments etc.
2.Variety
Variety is the different formats of data from coming in from various sources so big data has three different formats one is structured order a semi-structured and then unstructured so what is structured data so structured data is basically in the form of relational databases which comes in the form of tables which has rows and columns coming to unstructured data so unstructured data is in the form of audio files video files images etc now coming to semi-structured data so semi-structured data is in the form of JSON
in XML files so these were the basic you know formats of data.
3.Value
Value is nothing but deriving meaningful data from this entire collection of big data. Like analyzing data will benefit the medical sector by enabling faster disease detection better treatment and reduced cost this is known as the value of Big Data.
4.Velocity
velocity is the rate at which the data is being generated. All this data is generated at a very high speed which attributes to the velocity of big data
5.Veracity
veracity is the inconsistencies and the uncertainties which are present in the data. variety refers to the various data types such as structured semi-structured and unstructured data examples include Excel records log files and x-ray images accuracy.
so these are the basic five ways of big data but these V’s keep evolving as and when the data is going to grow over the period so I have put down for such reasons here to tell you that why it is so important how it is helping many organizations all around the globe.
Reasons why it is so important!
1.Making Smarter
The first reason here that I’ve stated is for making smarter and more efficient organizations so big data analytics is highly contributing to these factors and organizations are adopting this to lead them to faster decision making.
one such example that I want to share with you is about the New York Police Department in short which is the NYPD so big data and analytics are helping the NYPD and the other large police departments to anticipate and identify the criminal activity before it occurs so what they do is that they analyze the entire Big Data technology to geolocate and then analyze the historical patterns and they map these historical patterns with sporting events days rain falls traffic flows and federal holidays so essentially what the NYPD is doing that are utilizing these data patterns scientific analytics technological tools to do their job and they’re ensuring that by using these different tools they’re doing their job to the best of their ability so by using a big data and analytics strategy the NYPD was able to identify something called crime hotspots so basically where crime occurrence was more so they were able to identify these hotspots and then from there they deployed their local officers so that they could reach there on time before it was actually committed so this is how NYPD basically utilizes big data analytics so that they can prevent crime and make New York aboard safer place.
2.Optimize Business Operations By Analyzing Customer Behavior
The second reason here is to optimize business operations by analyzing customer behavior.
The best example for this as Amazon we all know how much Amazon is popular and how much we use it on our daily basis so Amazon uses our clickstream data that is the customers so they use our clickstream data and the historical purchase data of more than 310 million customers which have you know signed up for Amazon and then they analyze each users data how they are clicking on different products and how the navigating through their site so basically they show each user customized results on customized web pages so after analyzing all these clicks of every visitor on their website they’re able to better understand their site navigation behavior the paths that people are taking to buying their products and services and what else a customer looked on while buying that product and also the paths that led a customer to leave their page so this information helps Amazon to improve their customer experience and hence expand their customer base.
3.Cost Reduction
The third reason is Big Data technologies like Hadoop and cloud-based analytics they basically will reduce your costs significantly for storage of big data because for storing big data if you buy like huge stores and you know huge machinery so that is going to cost you a lot so by using Hadoop technology so what Hadoop does it stores big data in a distributed fashion so that you can process it parallel so it reduces your cost a lot so by using commodity Hardware they are reducing their costs significantly.
Let us see how healthcare is using big data analytics to curb their costs so using new data tools that sync automatic alerts when patients are due for immunizations or lab work more and more physicians could reduce the hospitalizations by practicing better preventive care so you know what the patient started using these new sensor devices at home and on the go so these new sensor devices are you know deliver constant streams of data that can be monitored and analyzed in real-time so they help the patients avoid hospitalization by self-managing their conditions now for hospitalized patients physicians can use predictive analytics to optimize outcomes and then reduce the readmissions.
Parkland Hospital in dial Texas is one such example which has been
using analytics and predictive modeling to identify these high-risk patients and then they predict likely outcomes once the patients are sent home so as a result backlog has been able to reduce his 30-day readmissions back to Parkland and all area hospitals for Medicare patients with heart failure by around 31% so Parkland estimates about a savings of $500,000 annually and of course not to mention that those savings which patients are also realizing by avoiding these readmissions so this is how healthcare is you know widely using big data analytics to reduce their costs significantly.
4.Next-Generation Products
The last reason for why big data analytics is so essential is next-generation products and how big data analytics is contributing to generate more such you know high tech products so that you can find about how customers needs can be satisfied and how they can use these new-generation products for their own the benefit so I have cited three such examples here for you :
1.Google Self-driving
The first example here is the Google self-driving car I’m very sure that most of you guys must have heard about it what Google the self-driving car does. It makes millions of calculations on every trip that helped the car decide when and where to turn whether to slow down or speed up and when to change their lanes so the same decision a human driver is making behind the wheel Google the self-driving car is also doing that with the help of big data analytics another example of a sales-driving car is the Toyota Prius which is fitted with cameras GPS, as well as powerful computers and sensors to safely drive on the road without the intervention of human beings so this is how it is you, know really early, contributing to making such high-tech products which in the long run we’d be using probability and it will make our life easier.
2.Netflix
Now moving on to the second product it’s fascinating product let me ask you a question how many of you all love watching TV shows and how many of you all prefer spending your weekends doing nothing with Netflix and chill ah let me guess almost all of us, you would have guessed example I’m arriving at Netflix so Netflix committed for two seasons of its extremely popular show how of cards you know the house of cards of two seasons it costed Netflix about 100 million dollars so how do you think that Netflix was able to you know to take such a big risk monetarily so the answer is my friends is big data analytics so by analyzing the viewer data the company was able to determine that the fans of the original house of cards which aired in the UK they were also watching movies that start Kevin Spacey who is playing the lead in the show house of cards and they were directed by David Fincher who’s also one of the show’s executive producers so basically
Netflix is analyzing everything so from what show you are watching when you pause it or to any when you turn it off. Netflix added 15.8 million subscribers, more than double the 7.2 million that was expected — a growth of more than 22 percent year over year. Netflix now has 182 million subscribers worldwide how fascinating is that I mean this is brilliant I am sure that the next time you guys are watching my show on Netflix you’ll be really happy because you already know how the backend is working in how Netflix is recommending you new shows and new movies.
3.Smart Yoga Mat
So now moving on to the third example that I’ve cited here so it’s one of the cool things that I’ve come across so this is a smart yoga mat now this has sensors embedded in the mat which will be able to provide feedback on your posters score your practice and even guide you through an at-home practice so the first time you use your smart mat it will take you through a series of movements to calibrate your body shape size and personal limitations so this personal profile information of yours is then stored into your smart mat app and this will help the smart mat detect when you’re out of alignment or balance so over time it will automatically evolve with updated data as you improve your yoga practice so now I’m sure that with these you know very interesting and exciting examples you’ve got an idea what exactly big data analytics is doing how it is improving various organizations in their sales and marketing sector.
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