Five Brownie Points On How Big Data Is Striking Our Lives Daily

 

Leroy Hood once said, “If you just focus on the smallest details, you never get the big picture right.” Big Data Analytics is a new technological process that rose to popularity in the early 2000s when analyst Doug Laney defined the 3 Vs in business analysis. He said that the strength of the data is linearly proportional to the Volume, Velocity and Variety of data collected.

Soon enough, the heads of the corporate world recognized the potential of analyzing their data. However, the magnitude of data being stored and analyzed today is almost inconceivable.

Anyone with knowledge can make almost any sort of prediction from all the data collected. For example, Forbes predicts that more data has been stored and structured just in the past two years than in the entire history of the previous human race.

Big Data is the new money of the advanced age. As technology stays to impact our careers massively, our data dependence is also growing. It has now begun changing everything in our jobs, right from our songs and movies favourites to creative friends who can accomplish a host of responsibilities for us through shaping our lives much more comfortable and relaxed.

If you look throughout, you will discover more such instances of big data analytics in everyday life. Big Data is probably the next big thing! Here are five ways Big Data Analytics is affecting the commoner’s life knowingly or unknowingly.

1. The way we buy things online

With the technology revolution making the internet a commodity than a luxury, most urban populations prefer to shop online today. Analyzing shopping trends help companies target ads to a more specific audience, thereby increasing their chances of selling the product. For example, it doesn’t matter if you buy a pen or a flight ticket; everything is recorded. That is why the ads on your browser are similar to something you were looking to buy before. Another thing that companies do is offer you an exclusive price just for you by generating coupons based on your shopping history.

2. The way authorities protect us

Analyzing crime statistics of a region helps map out the spots where there is increased theft. It allows authorities predict if there has been an increase or decrease in the crime rate. It also helps them ascertain the amount of police patrol required in an area based on the data. In addition, several other pieces of information can be obtained, such as recognizing repeated offenders. In this way, the local authorities can make a city safer.

3. The way we get loans or insurance

Banking corporations and insurance companies use detailed data to establish that the money lent away will be returned before sanctioning the loan or insurance. Data from various spheres such as health records, income records, a record of properties owned, even weather records information are scrutinized to determine the same. Also, Using sites such as Facebook and Twitter, insurers can better understand their customers’ behaviour and risk profile.

4. The way we take care of ourselves

With the growth in wearable technology, there has been an expansion in people trailing their health data. Today most maximum people are starting to acquire health trackers and download fitness apps – these are encouraging people to lead a practical life, eat better and manage their weight – and this is simply the origin. This data can be utilized to compose trends in the health status of a society. It is of the highest significance when it appears to foretell the outbreak of infections. It also serves to approximate the expenses of treatment by area or system. For instance, Google flu Trends already operates to confirm any sequence in a flu examination. Ginger.io, a different company, Ginger.io, allows a mobile application in which sufferers with appropriate conditions match, in association with their providers, to be followed through their portable phones and helped with behavioural health treatments. The app documents data regarding calls, texts, geographic location, and even physical actions. Patients also reply to surveys conveyed over their smartphones. Although the healthcare management has lagged behind divisions like retail and investment in big data—notably because of concerns about victim confidentiality—it could quickly overhaul.

5. The way we listen to music

Cellular data has become dirt cheap, and its cost continues to decline. This has led to an increase in music streaming rather than the old method of downloading songs. Recording parameters such as several plays, ratings, etc., help structure songs by popularity. Streaming applications such as Apple Music and Spotify also use data analysis for recommending new songs to their users. When you like or skip a song, that data is added to everyone else who has liked or forgotten that song, and that’s how these services suggest themes that you are more likely to listen to. Added data will offer more beneficial recommendations, more reliable predictions, more extra users and thus more increased payouts to the power holders. Big data truly benefited transform the music industry and the way we listen to music.

Conclusion

As we can figure, the amount of information that can be extracted by analyzing data is endless. Since it has the characteristic of being adopted by all industries, Big Data is the next BIG thing. It has helped steer the Information Revolution into a whole new direction. As the information we collect keeps getting more organized and trusted, our understanding of how and why we do many things will change. Industries very soon will observe a massive paradigm shift from conventional data process technologies to BigData Analytics.

About Author

Mrinal Walia is a professional Python Developer with a Bachelors’s degree in computer science specializing in Machine Learning, Artificial Intelligence and Computer Vision. In addition to this, Mrinal is an interactive blogger, author, and geek with over four years of experience in his work. With a background working through most areas of computer science, Mrinal currently works as a Testing and Automation Engineer at Versa Networks, India. My aim to reach my creative goals one step at a time, and I believe in doing everything with a smile.

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