Big data is the need of the hour. The activities we undertake on Internet every day lead to the unending expansion of data sets. These huge datasets generated every day can be used to tackle major challenges that businesses encounter in day-to-day processes. Big data is ubiquitous and has the potential to grow exponentially over time. Big data and related roles have a huge potential for growth and transformation. Big data has volume, variety, velocity, as well as variability. Let’s take you deeper into the world of Big Data.
What are the Different Types of Big Data?
Mainly there are three types of Big Data:
1. Structured Data: It can be stored, processed, and accessed in a proper format. It gets challenging to manage data when it exceeds a set limit, say it grows to zettabytes. Do you know, One Billion Terabytes forms a Zettabyte? Data prepared and presented in a tabular form and organized as per set rules is a type of structured data.
2. Unstructured Data: It is unorganized without following any proper format. It is basically random data. Managing and storing unstructured data is more challenging than the structured data set. A data set needs to be structured
first to get a proper outcome from it. The output that we see after a Google Search. Around 95% of organizations find unstructured data a problem for their business needs. To know more click this link
3. Semi-structured Data: There are complete chances for semi-structured data to be a mix of structured and unstructured. Ex. Data in the XML file.
Importance of Big Data
The computerized system for storing data is nothing but Database Management System (DBMS). This system of managing data gives scope to harness the tremendous benefits of data.
1. Businesses can use this data while making crucial decisions. The data available through different search engines or social media sites help businesses to strengthen their strategic planning and implementation.
2. Better Customer Service and Support. Slowly big data technology is replacing the old method of taking customer feedback. Here big data and language processing systems are used to check and analyze customer reviews and responses.
3. Timely forecasting of the risks to any product and services.
4. To increase the operational efficiency of any business or work.
Some Essential Tools in Big Data
Apache Hadoop: It helps in the segregated processing of huge data sets on groups of computers. It supports rapid data processing.
HPCC: It is by LexisNexis Risk Solutions Group. It offers single architecture and programming language for processing data on a single platform. It is a big data tool that does tremendous work with fewer codes as it optimizes code automatically for parallel processing. It offers better performance and extension.
Storm: It’s an open-source computation system that is free. It has real-time computation abilities. It is one of the best big data tools, which brings a segregated real-time, fault-bearing processing system.
Cassandra: It is an extensively used tool that helps in the efficient management of huge data sets. Here the data is directly copied to various nodes for fault tolerance.
Stats iQ: It was created by big data analysts for their use. Its current interface selects statistical tests immediately and is one of the user-friendly tools designed by Qualtrics. This tool has the potential to explore data very quickly.
Real-world Applications of Big Data
Big data in Banking:
There is massive use of big data in the banking and securities Industry to check the financial activities happening all around. Large Banks, Retail Traders, and Hedge funds use big data to get the trade analytics required for high-frequency trading, predictive analytics, sentiment measurement, before trade decision supporting analytics, and so on. How can we forget the use of big data in a crucial area of Risk Analytics which encompasses demand enterprise risk management, anti-money laundering, Fraud Mitigation, and the Know Your Customer process?
Big Data Application in Healthcare Industry:
The use of big data in the healthcare sector helps in treating patients. It makes evidence-based medicine treatment easy. Thus, reducing the cost of too many tests paid for by the patients. The University of Florida uses free public health data with Google Maps to create visual data that helps in easy and quick identification and analysis of healthcare information to understand the spread of any chronic disease. Even Obamacare is using Big Data in several ways. Some of the famous big data providers in the Healthcare sector are Cerner, Humedica, Recombinant data, and Explorys.
Big Data in Communication, Entertainment, and Media Sector:
Data from the different audiences helps to understand the choice and thus offer the products and services accordingly. Amazon Prime extensively uses this technology and has become successful by offering the best customer experience through videos, music, and Kindle. Whereas Spotify, a trending music service provider utilizes Hadoop software for big data analytics and gathers data from millions of users across the globe. Thus, this analyzed information helps to cater to advanced music options for its users. Netflix saves 1 billion per year by retaining customers with the use of big data; go through this link
Big data in Education:
Big data in education support understanding the efficiency of teachers to bring a better experience for both students and teachers. Some universities massively use this technology for the betterment of higher education. The office of Educational Technology in the US Department of Education has harnessed big data to create analytics of the students who don’t attend online big data courses.
Manufacturing and Natural Resources use Big Data:
Reservoir Characterization and Seismic Interpretation are the areas under natural resources where this technology has extensively helped. It is also efficiently used to overcome day-to-day manufacturing challenges and create a winning story. The famous big data suppliers in this sector are Aspen Technology, Pentaho, CSC, and Invensys.
Famous Five Roles in Big Data
They use their varied experiences with databases and assist organizations to achieve their objectives by working on project management activities and managing database environments.
Big Data Tester:
They work on checking and analyzing; datasets, codes, and computation infrastructures. Their role is nearly the same as that of a Quality Assurance Analyst.
They manage and check software databases, adding the ones that consist of statistical data, survey data, census data, customer records, and user accounts. They also support security experts and developers to offer backup solutions to reduce loss of data due to disruptions in the system. In additional cases, a database administrator may also know developing and designing database systems.
They assist businesses in problem-solving and decision-making by collecting, analyzing, and checking the available dataset. They can work in vivid industries such as finance, business, science, law enforcement, and technology.
Data Governance Consultant:
They design and create frameworks to manage and protect the utilization of data. For this, they have to observe the management, gathering, utilization, and storage of datasets.
Through this blog, we have tried to cover most of the important areas of big data like; types of big data, the major tools here, the applications, and the big data roles and responsibilities.
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