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How significant is Big data analytics today?

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The digital revolution that has swept through the world in the last few years has increased our ability to generate, share and store data at a breath-taking pace. Almost 4.39 people are connected to the internet today and more than 2.6 billion people use social media platforms like Facebook, WhatsApp and Instagram, and this has led to a data explosion. Moreover, owing to the advent of Internet-of-Things, 50 billion devices are expected to go online making the accumulated digital universe 44ZB in 2020 and by 2025 we will be generating 463 EB of data every day!

How is harnessing Big data profitable?

Big data is huge and cannot be categorized using regular relational databases. Big data analysts use state-of-the-art tools and techniques to analyze big data in order to excavate useful information out of it. Recruiting big data professionals and investing in big data technologies can be very costly and in order to fully realize the business potential of big data, companies must be patient. Big data also brings big problems along with it and it requires innovations and creativity to solve such problems which can only be done by skilled big data experts. However, hiring skilled big data experts involves a substantial amount of revenue and thus, one might wonder if Big data is really worth it!

  • In a survey done by Harvard Business Review in 2017, it was found out that most of the Fortune 1000 companies use Big Data Analytics for a variety of purposes like cutting on unnecessary expenditures, discovering new markets, adding revenue and develop an effective marketing strategy. In the same survey, 49.2% of the Fortune 1000 companies reported using big data successfully to reduce costs and 44.3% reported to successfully discover new avenues.
  • PepsiCo utilized big data successfully in identifying the ingredients that were trending and developed a whole new range of food products based on that. It saved PepsiCo a substantial amount of time and consequently much revenue was saved too.
  • Embracing Big data analytics means embracing the future as manual ways of doing business are going irrelevant. In the age of e-Commerce, keeping track of customer demands and satisfying customer needs can be very difficult without a data-driven strategy. And analyzing huge data pools is not possible without big data analytics.

Where does India stand in the world of Big data?  

Digital data in India is expected to reach 2.3 million petabytes by 2020 and given the increasing prominence of India’s digital economy, businesses in India must adopt big data analytics. The business organizations in India are not unaware of the fact and many have already started to leverage big data. The big data analytics market is currently valued at 2 Billion USD and Indian cities like Bangalore are home to many big data start-ups like Iqlect and Data Weave. This is why Big data training in Bangalore is much popular now and given the lack of talents in the field of big data in India, a good job after a Big data training in Bangalore is guaranteed!

What exactly is Big Data and why to learn it?

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Big Data is one such technology that has injected a lot of curiosity among people. Also, it has a lot more startling facts such every minute, the count of videos watched by the users’ crosses the 4 Million mark. This is in accordance with the report shared by Forbes. Furthermore, the report suggests 400,000+ tweets on Twitter, 40,000+ photos on Instagram, 500,000+ comments and 200,000+ statuses on Facebook get updated in one minute.

There is a huge data that is being produced with each passing second. All this consistent creation of social media and internet activities is leading the creation of Big Data.

Importance of the term “Big Data” & its rise –

Gone are the days we used CD or a floppy disk in order to store data. It was way back in the 20th century when the use of manual paper records, floppy, and discs prevailed. But today it is the exponentially growing data that made people store their data in database systems. Such constantly generating data through generations refers to as Big Data. 

According to a report by Forbes, each day nearly 2.5 quintillion bytes of data is produced which is as per the existing pace and that is probably be accelerating. A major role played in this acceleration is by one of the prominent technology, the Internet of Things (IoT). 

What is Big Data?

So before we talk about what Big Data is in reality, let’s talk what Big Data is not. One of the common myths related to Big Data is that is only about the Data volume. But in reality, it is the amount of data which is collected. In one way, it can be said that Big Data indicates to the big chunk of data which is originating from different data sources and comes in different formats.  Earlier, the data was stored in the databases but due to the varied nature of data, the way (traditional) proved to be not sufficient to handle it. There is much more to Big Data rather than just a collection of datasets that have different formats.

Big Data has three different formats –

  1. Structured which is basically an organized data format that has a fixed schema. 
  2. Semi-Structured is not completely organized data and does not has a fixed format.
  3. Unstructured is an unorganized data that has an unknown schema. 

Characteristics of Big Data or the five V’s of Big Data –

  1. Validity: correctness of data
  2. Volatility: the tendency to change in time
  3. Variability: dynamic behavior
  4. Visualization: visualizing meaningful usage of data
  5. Vulnerability: vulnerable to breach or attacks

Big Data Analytics

Now that we have a clear understanding of Big Data, let’s talk about its applications in real life. To do that, we will be taking the example of a leading coffee house chain that makes the best use of Big Data.

I ran over this Forbes article which announced how Starbucks made utilization of Big Data to break down the inclinations of their users to improve and customize their experience. From coffee buying habits to the most preferred drinks along with the time of order, everything was analyzed. This way when an individual visits “another” Starbucks coffee house in some other area, the POS of that store can know him/her via their cell phones and get them with their favored beverage. Furthermore, on the basis of the order preferences, their system will even recommend new items that the user may be keen on. And this is Big Data Analytics.

Fundamentally, Big Data Analytics is to a great extent utilized by organizations to encourage their development and improvement. This significantly includes applying different information mining calculations on the given arrangement of information, which will at that point help them in making better decisions.

There are different tools that help in processing Big Data, for example, Pig, Hadoop, Cassandra, Hive, Spark, Kafka, and so forth relying on the need of the company.

Big Data Applications

Following industry verticals are proof that shows how much Big Data Applications have been revolutionized:

  • Entertainment: 

To recommend their users with more TV shows and movies, Netflix and Amazon use Big Data.

  • Insurance: 

This domain uses Big Data to foresee disease, mishaps and value their items accordingly.

  • Driver-less Cars: 

Google’s driver-less autos gather around one gigabyte of information for each second. These trials require a whole lot of information for their fruitful execution.

  • Education:

The sector has wisely opted for Big Data technology to enhance their teaching methods. This has upgraded the learning of students in the same way it has helped the educator to track their performances.

  • Automobile:

Big Data has been widely embraced by Rolls Royce by fitting several sensors into its engines and propulsion systems. This provides them with every minute detail regarding their activity/task. The real-time changes in information are reported to engineers who will choose the best game-plan, for example, planning support or dispatching a group of engineers in case the problem demands it.

  • Government: 

A fascinating utilization of Big Data is in politics to investigate patterns and impacts that influence the results of the elections. There are organizations that fully drive on information to change the behavior of the audience and play a noteworthy job in the constituent procedure.

Conclusion

With all the amount of data being generated and stored, this has opened various channels of opportunities, probably, amounting to a brighter future of Big Data. With a high number of jobs as Big Data Analyst, Big Data Engineer, Big Data solution architect, Big Data is turning out to be a vast pool of opportunities. Enroll for big data and hadoop certification training, online and Learn Big Data Hadoop by working on Real Time Projects & Build a project portfolio to showcase in your interviews.