What is Big Data?
This is a collection of extensive data that is put together over time which is taken from daily digital interactions. Unlike traditional sets of data, Big Data is voluminous and needs specialised equipment to analyse and translate. The bigger the volume of data means that companies have a deeper insight into their clients’ wants, behaviours, and preferences. This translates to the revelation of trends, associations, and patterns which make it easier for them to understand their markets.
Big Data supplies the information needed to predict the ever-changing human conduct. This has led to the development of artificial intelligence and analytics-driven information. Big Data is responsible for changes in most sectors formal and informal.
Reasons Why Big Data Has Changed the World for Good
There are several reasons why Big Data has had so much impact on our daily lives:
Information Is Easily Available
Every single action you do on the internet is registered, from search engine inquiries to products bought and how much you bought them for. The advent of smartphones has made this even easier because billions of people are uploading information every second. Big Data is able to collect information from every user making it easy for you to find what you need at just the click of a button.
Prediction of Consumer Trends and Patterns
Big Data collects information from every device that can generate data. This means even your tweets, Facebook posts, and wearable tech are uploading data. Consumers discussing their preferences online make this information available to service providers. Big Data is able to analyse this information and with it, predict what is going to be the next big thing and which services or products are becoming obsolete.
Financial and Health Improvements
The financial and health sectors are benefitting greatly from Big Data by having information that enables them to adequately provide services. Communities which have limited resources are identified and given better financial services. Health systems can be put in place by studying which areas are most in need. There is an even geographical distribution of
It is now easier to prevent and manage disasters such as earthquakes, bomb blasts and hurricanes with all the information available. Real-time data collected from previous occurrences enables task forces to deal with recovery efforts. When rebuilding, affected areas can use the same data to plan urban structural development to avert future disasters. Big Data can also be used to track how well economies are recovering from such occurrences.
The ability to explore concepts in virtual reality has led to the massive development in many industries; especially with a wide range of headsets available. Architects can now design virtual buildings enabling you to see what they will look like when completed. Pilots and sportsmen can put in their hours as though they were actually at work. The multi-billion dollar entertainment industry is also benefiting greatly from virtual reality all made possible by Big Data; with the online casino industry already looking at how this technology can enhance their
Big Data has greatly influenced the world in a positive manner. Many service providers can take advantage of this to reach more clients while improving services and products for existing clients. There is also a lot of information available to students now, making it possible to learn from anywhere in the world. Big Data is making it possible to access the world with one click to get information from someone on the other side of the world.