Big Data Analytics
This concept is up-growing one as the current data storage pattern utilized by the companies is not as productive as plotted. It is refers to following type of data 1) Traditional Enterprise Data: which includes customer related data ERP, CRM, web transaction 2) Machine Generated Data such as wobbles, Trading Systems etc 3) Social Data: I. E.
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Faceable, twitter, Google etc. Big Data can also be seen finance and businesses where large amounts of stock exchange, banking online and onsite purchasing data flows through computerized systems every day and are then taken and kept for inventory monitoring, customer behavior and market behavior.
The capacity of data is increasing on a daily basis. Unfortunately many of industries are not able to manage it well. According to Computer Sciences Corporation by 2020, a total of 35 zeta-bytes of data will be produced as the average annual generation of information grows 43,000 percent. Although big data may be a relatively new phenomenon, its impact is already being felt throughout various industries. Organizations that are able to successfully store, manage and analyze such information will distinguish themselves apart from many of their opponents r make substantial advancements in their areas of expertise.
Healthcare providers may improve patient care by studying big data. The greatest prospect available from big data is opportunity the resolve some of the most significant problems worldwide. Current and past medical data combined with genome mapping can help us find resolutions to diseases or genetic disorders. Environmental data can aid in the prediction of climate changes, and can be used to develop better farming methods. Organizations can use big data to help make healthier business decisions. Organizations may be blew to accurately forecast market conditions and how well a product is doing.
Defects within their production line may be found faster. Big data may even help make better hiring decisions. Big data can also be used to help combat crime by gathering intelligence and evidence against criminal activity. The use Of big data can make a proactive approach towards security threats by recognizing trends that indicate illegal or terrorist activity. Big data along with crowd sourcing can help solve daily social problems. The primary threat, when it comes to big data, is privacy. A substantial amount of these data are personally identifiable information (PI).
Although the data may not have your exact name, with proper analytics, you can create a profoundly accurate profile of someone with it. Target was one of the first companies to use big data and data analytics for marketing; more specifically, it used its data to determine if customers were pregnant and then proceeded to send those customers advertisements about baby products. Target and other retailers may have your data with your permission but what about instances where you have not clearly given permission?
Passbook’s tagging feature, which allows a friend to either take a photo of you and tag you, or check in to a location, and tag you as being with them. Your image, and location data will be stored and mined. One of the major threats, is the threat of theft of data. Target, for instance, announced earlier this year that they were hacked, and that the accounts of more than 39 million customers were compromised. Although they focused on credit card information, there is a possibility that medical data could have been compromised as well. Big data alone is nothing Of Concern; its what We do with it.