What Is Big Data? Why Is It Important?
- 3 November 2020
- Posted by: Namita Ahuja
- Category: Technology
We get endless information delivered in seconds with just a single tap on our phones but have you ever wondered the amount of data generated by a single smartphone user? The number is perhaps difficult to be processed by simple tools. Although big data originated in the 70’s it was the time where the centers had just started. With the advent of various social media platforms, people eventually began to realize the amount of data was generated by the users, that is when the big data came into the picture.
What Is Big Data?
Big data is a revolutionary change in the field of technology. It is in the modern economy considered as “crude oil”. The top challenges the companies face is the lack of business insights. This is where big data takes the opportunity to tap into critical insights.
“Data is the new science, Big data holds the answers”Pat Gelsinger
If you’re wondering how do you classify any data as big data, it is possible with the concept of V’s-
The unimaginable amounts of information generated from social media, cars, credit cards are known as the volume. The distributed systems are used to store information in different locations and brought together by a software framework like Hadoop.
Big data is generated in multiple varieties such as structured, semi-structured, and unstructured.
- Structured data – It is known as the “tip of the iceberg” is the data that is already stored in the databases. Whenever a user clicks a link on the internet or makes a move in a game, data is created. It highly benefits the companies to make business decisions as they can gauge consumer behavior.
- Semi-structured – Information that is not structured in the traditional database format but contains organizational properties that make it easier to process is included in semi-structured data.
- Unstructured – Unlike the structured data, they have no clear format for storage. It is found across the internet as it includes mobile data, website content, and social media.
Filters the unstructured data and provides accuracy since most of the data is unstructured. It helps to translate the data for crucial business developments. With data mining evolving, it keeps pace with the potential of big data. It is only through big data that helps to uncover relevant insights.
Now you must be wondering if big data is so problematic, why does everyone feel the need to be so consumed by it? Well, the answer lies in the benefits that it provides.
Why Is It Important?
Marketing analysis – Big data helps to identify target audiences for marketing campaigns and test the performance of their social media campaigns. This helps the markets to make the promotion of new products and services.
Consumer behavior – Ever wondered how the algorithm of social media platforms delivers the content of your choice? Social media platforms, Netflix, and other gaming sources take advantage of big data to gauge consumer behaviors. It reveals the trends and patterns that in turn help the marketers to make a calculated decision. Data analytics helps organizations get closer to their customers.
Decision making – Hadoop is the most important software, its speed, and the ability to analyze information quickly helps organizations to make decisions. Predictive behavior modeling helps marketers to maximize their strategies through personalized marketing, demand pricing, resource allocation, and forecasting.
Business insights– Unlike the past where the businesses could only access a small amount of information due to limited data sets and poor analytics, big data does wonders in businesses. Along with understanding trends, preferences, and patterns, it helps them to create new experiences, services, and products.
Cloud computing and big data are like a match made in heaven. The cloud helps in processing and analyzing big data much faster, eventually leading to insights that improve businesses.
Data processing is collecting and translating data into usable information, usually performed by data scientists. It starts by converting raw data into readable formats such as documents and graphs. However, the future of data processing lies in the cloud. It builds on the convenience of current electronic data processing methods and accelerates its speed and effectiveness. Faster, higher-quality data helps organizations to utilize and more valuable insights to extract.
Data mining is a cornerstone of analytics. It keeps evolving to keep pace with the limitless potential of big data and affordable computing power.