Hello world my name is Francisco, fcoterroba on the Internet and today I’m bringing you a post where I’m going to explain, with an informative character what big data is and how it’s used in our daily lives since, although we may not realize it, it’s present in many of the actions we see daily.
Before we begin, I recommend you visit a post I uploaded very recently where I explain, in my own handwriting, some of the most currently used terms in computing and technology. Also, at the end of it, I attach 2 PDF documents to expand knowledge even more, which doesn’t take up space.
What is Big Data?
Big Data is another computing term, that describes the fact of a large volume of data, whether these are structured or not.
Better said, when we talk about Big Data we talk about a set of data or combinations of data sets whose size, complexity and growth speed make their capture, management, processing or analysis difficult through conventional technologies or tools such as relational databases.
Although the minimum size requirement to determine if a given data set is considered Big Data is not yet required and, as expected, changes over time. Most analysts and professionals surveyed in a famous English-speaking magazine, consider it will be between 30-45 Terabytes to 4 Petabytes.
In most cases, Big Data must be combined with structured data such as a relational database, an ERP or a CRM.
Now I leave you a YouTube video where, Big Data is easily explained, in less than 5 minutes.
Let’s talk about companies
Why do you think companies use this term, Big Data, so much?
In my opinion, I think it’s used, apart from because it’s a relatively new term, and that attracts the client, for the infinity of positive points that the practice of this term improves in companies’ lives.
Mainly, they provide answers to questions that didn’t even exist. Speaking plainly, Big Data provides another point of view since, with such an amount of information, organizations, SMEs and companies, are able to identify problems in a simpler and clearer way.
By having a technology that collects large amounts of data and searches for trends within the data, this allows companies to move much faster, without problems and efficiently. And on the other area too, if a problematic area is detected, it could be suppressed before influencing the company’s profits and/or reputation.
In summary, Big Data analysis helps companies leverage their data and use it to identify new opportunities. This, creates a smarter business movement flow, more efficient operations, higher profits and more loyal customers. Also:
- They reduce their cost providing important advantages in terms of costs to store large amounts of data with technologies such as Hadoop and cloud-based analysis or Cloud Data.
- They’re faster and with better decision making since, the service provider’s speed is combined with in-memory analytics, thus combining a perfect analysis of new data sources.
- New products and services are some of the things that Big Data would be capable of bringing to market by analyzing customer needs and their satisfaction.
Below I leave you a 7-minute video from Vodafone company in which Tom Davenport, a specialist in the field, briefly explains what Big Data is and how it can help in our business.
How does Big Data affect us in our daily lives?
As we’ve already said previously, Big Data consists of the analysis and management of massive volumes of data, converting that data into useful and valuable information for decision making, mainly performing the entire process in real time.
Although it’s expected that in a few years, Big Data will be one of the most everyday technologies in our daily lives, today it’s limited to being present in business environments. Large (and not so large) companies collect information about their customers, thus giving them the best market experience.
Through the famous privacy terms that we supposedly read and accept, applications, wearables, home automation, games and everything we do on the internet, information is collected about us to make a more specific network profile.
According to a Telefónica study, more than 22 million Spaniards connected 365 days of 2016 to the Internet. From there they get all our information.
Some of the sectors in which Big Data is already used today to improve the company are:
- Tourism → Collecting data from customers and tourists, applying analysis and then identifying possible problems, will make something as difficult to measure as a customer’s happiness become a simple task.
- Marketing → According to geolocation accompanied by the proliferation of smartphones, advertisers create advertisements according to the type of customer, current location, etc. Opening new income for service providers as well as new customers for advertising companies.
- Call centers → The historical information of a Call center can be immense if we include sales, calls, registration, customer interests, customers, marketing plans, types of sales, methodology, bank accounts, etc. Big Data is used here for the improvement of worker habit.
These are some of them. Write in the comments which one else occurs to you!
I leave you below several very interesting videos to expand your knowledge on the subject:
And that’s all for today guys, I hope you liked this post, this topic and remind you that you can follow me on Twitter, Facebook, Instagram, LinkedIn and see you next week!