{"id":240788,"date":"2022-07-17T17:28:28","date_gmt":"2022-07-17T14:28:28","guid":{"rendered":"https:\/\/ceotudent.com\/?p=240788"},"modified":"2023-02-11T15:41:26","modified_gmt":"2023-02-11T12:41:26","slug":"everything-you-need-to-know-about-big-data","status":"publish","type":"post","link":"https:\/\/ceotudent.com\/en\/everything-you-need-to-know-about-big-data","title":{"rendered":"Everything You Need to Know About Big Data!"},"content":{"rendered":"
Are you ready to learn everything about big data? Every day, people from different parts of the world use social media platforms, mobile applications and websites for various purposes. If you think that you use these platforms for browsing purposes only, you are wrong. While navigating, a lot of data is sent to the databases of the systems. Transactions made, time spent, social media likes, comments made, watched\u2026 For example, according to a statistic, more than 500 terabytes of new data are recorded in Facebook’s databases every day. <\/p>\n
What happens as a result of this constantly generated data when we open an app, search on Google, or travel somewhere with our mobile devices? Huge collections of valuable information emerge that companies and organizations need to manage, store, visualize and analyze. Traditional data tools are not equipped to handle such complexity and volume of data, a set of specialized big data software designed to manage this load.<\/p>\n
Before we get into big data, let’s clarify what data is. Data is any set of computer-operated quantities, characters, or symbols that can be stored and transmitted in the form of electrical signals and recorded on magnetic, optical, or mechanical recording media.<\/p>\n
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Big data, in a way, means \u201call data\u201d. They are large datasets that were once not easy to process with traditional methods. The shortest definition of big data is data that is too big for computers to process. In other words, this data is a constantly growing data.<\/p>\n
The concept of Big Data is relatively new and represents both the increasing amount and changing types of data currently collected. Big data proponents often refer to this as ‘dating’ the world. As more of the world’s information comes online and digitizes, this means analysts can start using it as data.<\/p>\n
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Reading a book on your Kindle means what you’re reading, when you’re reading, how fast you’re reading, etc. generates data about Similarly, listening to music generates data about what you listen to, when and in what order. Your smartphone is constantly uploading data about where you are, how fast you move, and what apps you use. Another important thing to keep in mind is that big data is not just about the amount of data we produce, it’s also about all the different types of data (text, video, call logs, sensor logs, customer transactions, etc.).<\/p>\n
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Big Data was initially characterized by three Vs: volume, variety, velocity. These characteristics were first described in 2001 by Doug Laney, who later became an analyst at consulting firm Meta Group Inc. Gartner made them even more popular after purchasing Meta Group in 2005.<\/p>\n
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Companies use big data in their systems to improve their operations, provide better customer service, create personalized marketing campaigns and take other actions that can increase profits. Businesses that use it effectively have a potential competitive advantage over those that don’t, as they can make faster and more informed business decisions.<\/p>\n
For example, big data provides valuable information about customers that companies can use to deliver their marketing, advertising and promotions to increase customer engagement and conversion rates. Both historical and real-time data can be analyzed to assess the evolving preferences of consumers or corporate buyers, enabling businesses to become more responsive to customer wants and needs.<\/p>\n
Big data is used in virtually every industry to identify patterns and trends, answer questions, learn about customers, and tackle complex problems. Companies and organizations use information for many reasons, including growing their business, understanding customer decisions, enhancing research, making predictions and targeting key audiences for advertising.<\/p>\n
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The financial and insurance industries use big data and predictive analytics for fraud detection, risk assessments, credit rankings, brokerage services, and blockchain technology, among other uses. Financial institutions are also using big data to improve their cybersecurity efforts and personalize financial decisions for customers.<\/p>\n
Hospitals, researchers and pharmaceutical companies are using Big Data solutions to improve and advance healthcare. Thanks to access to patient population data, existing treatment methods are being developed; More effective research is being done on diseases such as cancer and Alzheimer’s, and new drugs are being developed. Big data is also used by medical researchers to identify disease symptoms and risk factors, and by doctors to help diagnose diseases and medical conditions in patients. In addition, data from electronic health records, social media sites, the web, and other sources provide healthcare organizations and government agencies with up-to-date information on infectious disease threats or outbreaks.<\/p>\n
If you’ve ever used Netflix, Hulu, or any other streaming service that offers recommendations, you’ve seen big data at work. Media companies analyze our reading, watching and listening habits to create personalized experiences. Netflix even uses data about graphics, titles, and colors to make decisions about customer preferences.<\/p>\n
From agricultural engineering to predicting crop yields with astonishing accuracy, big data and automation are used to rapidly develop the agricultural industry. In this way, many European countries have become better able to use technological developments in agriculture. With the flow of data over the past two decades, scientists and researchers in many countries are turning to using big data to combat hunger and malnutrition. Supporting open and unrestricted access to global nutrition and agricultural data, Global Open Data for Agriculture and Nutrition (GODAN) facilitates researchers in the fight to end hunger around the world.<\/p>\n
Credit card companies face many frauds and Big Data technologies are used to detect and prevent them. Previous credit card companies would track all transactions, and if a suspicious transaction was detected, they would call the buyer to confirm whether the transaction was made. But now buying patterns are being observed and areas affected by fraud are analyzed using big data analytics. This is very helpful in preventing and detecting scams.<\/p>\n
Big Data technologies are used to predict the weather. A large amount of data about the climate is fed and an average is taken to predict the weather. This flood etc. can be useful for predicting natural disasters.<\/p>\n
Big data is used in many governments and public sectors. Big data, power research, economic promotion, etc. provides many possibilities. Other government uses include emergency response, crime prevention and smart city initiatives.<\/p>\n
In the energy industry, big data helps oil and gas companies identify potential drilling locations and monitor pipeline operations; similarly, utilities use it to monitor power grids. Manufacturers and shipping companies rely on big data to manage their supply chains and optimize delivery routes.<\/p>\n
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Big data comes from countless sources. For example, customer databases, documents, emails, medical records, internet clickstream logs, mobile apps and social networks, personalized e-commerce shopping experiences, financial market modeling, compiling trillions of data points to accelerate cancer research, Spotify, Hulu and Netflix media recommendations from streaming services such as; predicting crop yields for farmers, analyzing traffic patterns to reduce congestion in cities, data tools recognizing retail shopping habits and optimum crop placement.<\/p>\n
In addition to data from internal systems, big data environments often contain external data about consumers, financial markets, weather and traffic conditions, geographic information, scientific research, and more. Images, videos, and audio files are also big data formats, and many big data applications include streaming data that is continuously processed and collected.<\/p>\n
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Inevitably, much of the confusion around big data comes from the variety of new (for most) terms that have popped up around it. Some of the most popular Big Data terms include:<\/p>\n
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The diversity of big data complicates it by its nature, causing the need for systems that can handle various structural and semantic differences. Big data requires specialized NoSQL databases that can store data in a way that does not require strict adherence to a particular model. This provides the flexibility needed to consistently analyze seemingly disparate sources of information to gain a holistic view of what is happening, how to act and when to act.<\/p>\n
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Big data is usually stored in a repository. Data warehouses are usually built on relational databases and contain only structured data, while data repositories can support a variety of data types. For example, it can be integrated with other platforms, including a central repository, relational databases, or a data warehouse. Data in Big Data systems can be left raw without processing. It can then be edited and used for certain analytical operations. In other cases it is preprocessed using data mining tools and data preparation software. So it is ready for applications that are run regularly.<\/p>\n
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Big data processing places heavy demands on the computing infrastructure. Organizations can deploy their own cloud-based systems or use Big Data as a managed service from cloud providers. Cloud users can scale as many servers as needed to complete big data analytics projects. The business only pays for the storage and processing time it uses, and cloud instances can be shut down until needed again.<\/p>\n
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