What Is Big Data - 1808 Words

What is Big Data? Big data is often referred to and defined in many different ways.In layman terms, we can interpret it as massive or huge amounts of information which cannot be handled efficiently by the current technologies and softwares. But recent technological advancements like data analytics, and social or media networks allow process, transfer, allocate, measure and represent enormous amounts of data which can also be referred to as Big Data. The way big data is used these days is to gather deep and useful information about people’s behaviour and sentiments. According to Katina Michael and Keith Miller - â€Å"Organizations use various analytical techniques— from crowdsourcing to genetic algorithms to neural networks to sentiment†¦show more content†¦As per our analysis, gathering and processing data/information from online news and social media could give the agencies a lead time for tackling critical health issues. For instance, during a cholera outbreak in Haiti, the government agencies could have got a lead time of two weeks if they had done proper data mining from online media. Another major application could be predictive analytics to flag fraudulent payments. The Fraud detection Systems help in reducing the abuse in real-time and has already prevented over $115 million of fraudulent payments in general. The system deployed by The Center of Medicare and Medicaid Services has already saved three times the actual cost invested for the program’s first year. Big data analytics has always proven useful for defense purposes. According to one of the retrospective analysis, a program called Nexus 7 by the Defense Advanced Research Projects Agency (DARPA) deployed data scientists to the battlefield during the violent years in Afghanistan War. The data mined through surveillance helped in locating and destroying improvised explosive devices. Another health industry success story was collecting millions of data samples from neonatal intensive care units to determine which newborns were likely to contract potentially fatal infections. Small warnings during analysis detected early signs of infections and thus prevented manyShow MoreRelatedWhat ´s Big Data1297 Words   |  5 PagesBig Data, the term big data is very popular now a days. Big Data, from its name it can implies that it is data which is very large, which is in huge amount. Big Data is little bit a unsuitable name .Big Data only implies that it is talking only about the quantity of data in its only challenge is to handle large amount of data. But it is not like that , term Big Data not only indicate size of data ,but with this problem of handling such a large amount of data also come . Companies have largeRead MoreWhat Is The Use Of Big Data, Data Analytics And Cloud Solutions1874 Words   |  8 PagesThesis Title: Use of big data, data analytics and cloud solutions in accounting Introduction→(150 words)***comeback to this do it @ end There is a dramatic transformation in the 21st century due the increase in technology therefore changing the way we perform accounting. The first to occur in the solution is Big Data, which creates† a collection of data from traditional and digital sources inside and outside your company that represents a source for ongoing discovery and analysis†. (Arthur, 2017)Read MoreWhat Is The Tools And Architecture For Big Data Chapter Summary1391 Words   |  6 PagesBig Data Now : 2016 Edition is a collection of big data and data science blogs and excerpts written by various O’reilly authors. It brings forward the knowledge of executing big data project and creating scalable solutions. 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Cost, personnel, problemsRead MoreWhat Inclusions And Exclusions Persist From The Days Of Big Data Collection And Analysis704 Words   |  3 PagesGroup 1: Volume of Data Participants Name Aishwarya Patil Jiayang Su Jingxin Wang Nishant Singh Xinni Song Yuchen Xie 1. What inclusions and exclusions persist from the days of traditional data collection and analysis to today’s era of â€Å"big data† collection and analysis? Considering our volume-based view to data, there are two types to describe the data volume, which are Total Volume(TV) and Unit Volume(UV). Recently, machine generated data is more in volume than the traditional data both in Total VolumeRead MoreWhy Do Big Data And Product Design Are All Important Problems?1549 Words   |  7 PagesIntroduction Big data, defined as â€Å"a popular term used to describe the exponential growth and availability of data†(What is Big Data? , n. d. ), has attracted considerable interest in many fields as it promises to offer a level of analytic detail that has not been reached so far. Whilst it is often promoted as the solution to many marketing problems, it has some significant disadvantages. Cost, data selection, problems relating to the interpretation of the data and difficulties deciding how to applyRead MoreBig Data Is Not Always The Defining Factor1046 Words   |  5 PagesAlthough we hear the term ‘big data’ frequently now, the true definition of big data does not seem to have a singular, agreed upon definition. Depending on who you ask, big data can mean many different things. What would seem to be the most intuitive definition of ‘big’ data is not necessarily the correct one. Though the size of the data is an important aspect, it is not always the defini ng factor. According to Dell EMC’s video, Big Ideas: How Big is Big Data, big data is â€Å"any attribute that challengesRead MoreWhat s On The Business World, Information Technology Plays A Major Part Of Companies Success And Growth1499 Words   |  6 Pagespart in companies’ success and growth. Technology is rapidly advancing at an exponential rate and what we can do now with IT is beyond what we could have imagined just a couple decades ago. I am pursuing a degree in marketing and looking into information systems as well, I expect to become a brand manager for a big company one day such as Apple, Proctor and Gamble, or GE, etc. In marketing we utilize data to gather information and knowledge to better understand our customers. I believe I would use ITRead MoreThe Importance of Big Data to Business Essay592 Words   |  3 PagesWhy Big-Data is important Why is Data is important for a company? What are the effects? Competitive advantage: All companies obtain information on their customers or on their product. All these information may help a business to develop new strategies. They can also forge ahead by treating these big data. All companies have in their possession those information, so use it can be very useful. A company can identify for example their weaknesses and can improve their strategy to become theRead MoreA Study On Data Science1618 Words   |  7 PagesExercise 1: Data Science (1 mark) Read the article at http://datascience.berkeley.edu/about/what-is-data-science/ and answer the following: Define Data Science? Answer: Data Science is evolutionary way in some interdisciplinary arenas likewise business analysis which combines statistics, mathematics, modeling, analytics etc. It consists automated methods for extract knowledge. It affects the applied research in various fields which consists robotic, search engines as well as biological science.