Big Data (More Than Data, It’s a Story)
Most people that are in the Tech world, have heard of Big data Analytics hadoop. In today’s buzzword heavy Technology sphere, terms like Big data, and IoT are thrown around a lot without any explanation as to what they actually represent.
In its basic form, Big Data Analytics, is the process of uncovering Hidden patterns, and other bits of useful information that can be used to make better decisions. Every day the devices, and platforms we use, gather billions and billions of rows of data with hundreds of millions of data mixtures and combinations in multiple data stores and formats.
Big Data and Business Analytics
From a business point of view, Big data predictive analytics is all about taking the data that you collect and gather and turning it into a story that can be used, whether it is in Marketing, sales, or improving your general customer experience. Those recommendations you get on Amazon, for books, toys, or kitchen utensils, the movie suggestions you get on Netflix, and the music suggestions you get on Spotify, are all thanks to analytics tools, Big data Analytics and technologies.
Each day a quintillion bytes of data are created. In case you don’t know, a quintillion is a cardinal number represented in the US by 1, followed by 18 zeros, and in Great Britain, 1 followed by 30 zeros.
Seems unreal, but it is an actual number and there is a whole industry that revolves around deciphering that data and letting it tell a story. The type of story that is hidden amongst the lines of code and the data collected.
Value of Big Data for Corporations
You are the story. Your habits, your tendencies, your routine,etc. It sounds creepy, and there is a fine line between invasive and helpful, but it’s not quite the same as the NSA hacking your email accounts and listening to your phone conversations. The important parts for corporations depends on the goals that each company has in mind when they use and interpret your data. Not all companies know what value they may get from tracking the data.
Capital One uses data to shape and customize customer offerings. T-Mobile collects data to prevent customer turnover. And it isn’t limited to customer relations either. Sports organizations like the NFL’s Atlanta Falcons, use GPS technology and collect data to analyze the movement of players during practice. Thomson Reuters uses Sentiment analysis from Twitter data for its trading platform for market analysis. Even McDonald’s is using big data. McDonald’s was able to improve the efficiency of their drive-thru design ensuring each customer was served as quickly as possible. Big data helped McDonald’s anticipate times when demands would increase, optimizing the drive-thru experience for the customer.
Here is a list of some technologies used by Big Data companies:
Big Data in the cloud (for getting more value form the data)
MapReduce (for job execution scalability)
Hadoop (open source platform for storing Big Data)
NoSQL databases (key-value stores)
Hive (for making queries against data in a Hadoop cluster)
SkyTree (for learning data)
Column-oriented databases (for online transaction process)
Python (open source language with powerful libraries for data manipulation and analysis)
Some of the Prototype development includes Big Data predictive analytics as well.
The age of anonymity ended a long time ago. Everything that we interact with in some way shape or form is recorded. Everything that we do is crafting a story that companies use to offer us better services and experiences. To the business community Big data and using it to decipher the information that counts, is now a way of life. One that offers a competitive advantage.
To consumers it’s an effective, albeit a bit creepy, way to be heard and recognized as individuals. Often in the past people would complain about being seen by some huge company as just another number. Now as a consumer you are seen as unique, making your customer experience as customizable and as enjoyabe as possible. Big Data and business analytics make all of this possible. There are plenty of other things that can be attributed to Big Data, other technologies and ways to use them, the jobs they create and more. But that is a whole other story.