All about Big Data and its Concepts

Big Data and its Concepts

Today the term big data is used massively. In fact, Big Data is not a big deal, it is just all types of data of an organization. It’s the information owned by a company, obtained and processed through new techniques to produce value in best possible ways. The slang has got accepted worldwide and now the data of any company is given this new name by whole industry. In this article we will discuss details about Big Data, its concepts, uses and examples.

What is Big Data?

Big Data is your all data. It includes even any tiny piece of data that is stored anywhere either in clouds or even in the form of the URLs. All the digital data, hard papers, structured and non-structured data are known as Big Data. Thus when anyone uses this term it covers each and every piece of data that is stored by any organization in any form till now.

Concepts

This magic word Big data is based on the Concepts on Vs:

  • Volume
  • Velocity
  • Variety
  • Visualization
  • Veracity (Reliability)
  • Variability and
  • Value

Some experts however stick to the opinion that only first three Vs are enough to explain the whole concept of Big Data.

Its Uses

Big Data is the heart of business houses.  Data of any organization is used to calculate different aspects of organization. It helps in analyze trends, behavior and overall profits. These are prominent industries those use Big Data regularly.

Financial Institutions

Finance industries take support of Big Data to know and analyze previous trends of markets and then make plan and predictions for future.

Retail Marketing

Retail industries deal in consumption of goods.  Big Data can be used to tell how the data is consumed and by whom. Analysis of Big Data make easier to create reports so that you can focus on improving quality of products and make more sales. The behavior of customers can be analyzed on any basis like gender, interest and age.

Government and Public Sector

Govt. and public sector units are ones that collect data for various purposes. With the help of Big Data, you can track speed, accuracy and needed resources to complete different projects being run by them.

Communications Sector

Big Data is useful for communication sector organizations like others. It helps in knowing the requirement of customers to grow their business. They come to know the requirements of bandwidth, popular plans and interest of customers. It is easy to indentify cheaters or fake customers.

Media and Entertainment Businesses

Media and Entertainment Businesses face different kind of challenges. The taste of customer’s changes frequently so it is the main focus here is customer retention. It is really important to keep your present customers as well as grab new ones. Big Data is analyzed by experts to know about the taste of media, different users enjoy.

Example of Big Data (Netflix)

Netflix is a good example of Big Data .It have feature of on-demand-streaming. It helps in organizations to analyze traffic details. It is quite easy to find out the problems, also Netflix is able to get more and deep insight of data because of Big Data. It helps in gaining reports like what type of content customers preferred.

Analysis of Big Data is a requirement of today business it not only help in improving current operations as well as helps in making full proof plans for future.

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