Today, an enormous amount of data is produced. It is predicted by experts that there will be a day in upcoming years when we will have a data tsunami. This massive amount of data is termed as Big Data. It has become necessary to take the help of the tools to maintain and manage this vast amount of data in various fields like education, business, government, etc. This management will help in proper study, storage, and process of the data that is being gathered every day.
If I need to define Big Data in general, then I would say that it is unprocessed data that is complex. This data can be sensitive or insensitive, depending on the type of data. Data can be confusing to normal human beings.
Big data has been playing a massive role in the present market. It is a big game-changer. Wikibon assumes that Big Data revenue will reach 100+ Billion Dollars by 2027, which was just 40 Billion Dollars in 2018. According to this fact, there will be 10.40% of annual growth in the revenue for the organizations through Big Data. And this proves the importance of Big Data certification and makes it one of the most engrossed skillsets in the industry.
The goal of Big Data is to help current organizations to make informed decisions by analyzing the large volumes of data available in various forms. This data can be captured using websites, applications, and many other sources. Just because of this, Big Data has got its applications in various fields. Let me jot down a few for you to understand the importance of Big Data.
Reduce the crime rate – Applications that involve money transactions, have the worst scenario when there is any occurrence of fraud during the transactions. Big Data enables the real-time trend analysis that decreases the chances of real-time fraud and in a way, reduces the crime rate.
Reduce the rate of recurring problems – Let me take an example to make you understand this application. If you, as a customer delivery manager, handle all the tickets raised by the customers, then Big Data can help you gather problems that are recurring and coming now and then. You can, as a manager, detect them and get it solved once to reduce the rate of recurring problems.
Reduce the risk of data leakages – Fields like banking, telecom, and healthcare have a high risk of data leakages. Big Data helps in revealing potentially sensitive data to reduce the risk of data leakages.
Increase the amount of business – For example, every organization has some pattern in their clients they work with. According to this pattern and the trend generated, Big Data can help in gathering business information, which is useful in expanding the business and overall increasing the amount of business.
Big Data is a powerful tool that makes our life easy. It helps in various other fields that I haven\’t mentioned above, like finance, marketing, stocks, etc.
The applications that I jotted down are just a few prominent examples of Big Data Applications, but the amount of revolution that this technology is bringing and will bring is not even predictable.