Big data and its Importance

 

 

Big Data Overview

 

Data is described as the characters, symbols or quantities upon which processes are operated by a computer which can be collected and transferred via electrical, mechanical, magnetic or optical signals. All the numbers, images, audios, videos and texts saved inn our mobile phones are some common examples of data. Data is digitally consisted of 0s and 1s. (Framework, 2020).

Big data implies to abundant volumes of data that are too complex or huge to evaluate with conventional tools. In this technology oriented era of 21^st century, life without bodies and mediums like laptop, smartphones is considered non-functional. All of these mediums and objects are gathering enormous quantities of data known as Big data. It is said that the amount of big data raise exponentially, for example, almost 500 TB of data are uploaded on the Facebook archive only in a one day (Roy, 2020). It embodies a substantial challenge in terms of analysis. But the obsession with big data has some great deals to go with because of the enormous amount of benefits it provides

Big data is being used in almost every digital medium now and some of the real world examples are mentioned to show the significance it is imparting on social media managers and creators.  Netflix is a famous television media service that gathers user performance data from its more than 100 million customers. The data from the users help Netflix in sensing and knowing what every single customer intends to see. Via analyzing the information acquired from the user interest, it recommends TV shows and movies which viewers would enjoy watching hence causing a happy and satisfied customer range. According to a report published by Inside Big Data, it is estimated that Netflix saves around 1 billion dollars per year on customer retention (Team, 2019). 

Banks  and debit card corporations gather and collect real time data of  where and when the cards are being swiped. This data facilitates them in identifying scam discovery. Suppose a card is being used at location X for the very first time and then it is observed being used at some location B after two hours which is 5000 kilometers away from location X. Now, this is almost impractical for a person to go from location X to location Y, i.e., 5000 km away in just two hours, hence, making it clear that someone is attempting to deceive the system.

Not only these two, but big data is providing hundreds of other various applications in a variety of fields like communication, banking, media, manufacturing, advertising, retail and transportation.

According to IBM, it is estimated that 90% of  data in today’s world has been generated in the duration of last 2 years. The source of this data is found everywhere like sensors involved in collecting shopper information, data posted on social media sites, digitals videos and pictures, buying and selling transactions and mobile phone GPS signals are few in the category (Smarter Business Review, 2021).

New Vantage’s studies have analyzed that 97.2% of the organizations are spending in Artificial Intelligence(AI) and Big Data. (Steidl, Breu and Hupfauf, 2020)

Forbes has published its statistics related to Big data stating that within the span of 5 years, it is expected that there would be more than 50 billion smart devices linked with each other in the world and would be developed on the purpose to gather, interpret and share data. (Marr, 2021)

Because of the increased awareness among masses and enhanced trend in technology, big data has served very efficiently in all walks of life. In context to this significance, this field has emerged with lots of employment opportunities. Another report published by Forbes has indicated that the job listing for data science and analytics has reached around 2.7 million in 2020. (Cobo, 2021)

In this advanced era of 2021, cryptocurrency has got its importance in various aspects. Cryptocurrency is a kind of digital payment that is thought to be used in purchasing online commodities or products. Cryptocurrency is aided through a technology called blockchain. The blend of big data with blockchain technology generates the possibility for development in so many companies as well as reinforces the cryptocurrency market. (Woz, 2021)

Big data can be implied to solve patterns and tendencies that can create perceptive discoveries for companies. Suppose data analytics are aimed at using in the analysis of cryptocurrencies. In that case, it can become an effective tool for foreseeing trends and protecting against unlawful practices. (Woz, 2021)

Similarly, big data has got its importance in the healthcare sector as well. In healthcare sector, big data is being used in defining enormous quantities of information generated by the acceptance of digital tools that assemble records for patients and support in handling hospital operation which is, otherwise, nearly impossible and complicated for typical technologies.  The application of big data in healthcare has imposed an enormous amount of beneficial and life-saving consequences. An appliance with healthcare will utilize the detailed wellbeing data of a population or of a particular person and possibly assist in preventing pandemics and epidemics, treating disease, and reducing costs (Alsunaidi et al., 2021).

The COVID-19 has affected much human and turmoil in the societal, social, economic, and health set up all around the globe. In context to mitigate such pandemic, there is a need to understand its behavior and pattern, that can be detected via analyzing and compiling the associated big data. Big data tools helps to perform a fundamental function in developing information essential in creating decisions and preventive methods. The bulk amount of data generated from healthcare units can be utilized by applying big data analytic techniques in various zones like identification, estimation, or prediction of risk count, pharmaceutical industries, and health care decision making (Haleem et al., 2020).

The incorporation of big data with AI will play a pivotal role in predicting healthcare patterns. For example, it would aid in foreseeing the spots of contamination and pattern of the movement of virus. It will also assist in assessing the requirements of beds, medical resources, and healthcare experts in the period of such pandemic crises and the diagnosis and categorization of the virus. (Haleem et al., 2020)

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      References:

• Roy, A.S., 2020. How facebook handles the 4+ petabyte of data generated per day! Medium. Available at: https://medium.com/@srank2000/how-facebook-handles-the-4-petabyte-of-data-generated-per-day-ab86877956f4 [Accessed October 26, 2021].
• Anon, 2020. Big Data - Big Facts. Enterprise Big Data Framework©. Available at: https://www.bigdataframework.org/big-data-big-facts/ [Accessed October 27, 2021].
• Anon, 2021. Services blog. Smarter Business Review. Available at: https://www.ibm.com/blogs/services/ [Accessed October 27, 2021].
• Anon, Challenges in testing Big Data Systems | Springer Link. Available at: https://link.springer.com/chapter/10.1007%2F978-3-030-35510-4_2 [Accessed October 27, 2021].
• Cobo, M.C., 2019. The most valuable college majors are where the jobs are. Forbes. Available at: https://www.forbes.com/sites/mariaclaracobo/2019/07/31/the-most-valuable-college-majors-are-where-the-jobs-are/?sh=1947cdbf78a0 [Accessed October 27, 2021].
• Anon, 2021. How Big Data & Data Scientists Benefits cryptocurrency: WOZ. Woz U. Available at: https://woz-u.com/blog/how-big-data-benefits-cryptocurrency/ [Accessed October 27, 2021].
• Anon, 2021. 18 examples of big data in healthcare that can save people. data pine. Available at: https://www.datapine.com/blog/big-data-examples-in-healthcare/ [Accessed October 27, 2021].
• Alsunaidi, S.J. et al., 2021. Applications of big data analytics to control COVID-19 pandemic. Sensors, 21(7), p.2282.
• Haleem, A. et al., 2020. Significant applications of big data in COVID-19 pandemic. Indian journal of orthopedics. Available at: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7204193/ [Accessed October 27, 2021].

R  - Jazil Shahabudeen, November of 2021