Big data is similar to ‘small data’ but bigger in size. It is a term that describes the large volume of data both structured and unstructured. Big data generates value from the storage and processing of very large quantities of digital information that cannot be analyzed with traditional computing techniques
2. Big data is similar to ‘small data’ but bigger in size.
It is a term that describes the large volume of data both
structured and unstructured.
Big data generates value from the storage and
processing of very large quantities of digital information
that cannot be analyzed with traditional computing
techniques
4. 1. COST SAVINGS
2. TIME REDUCTIONS
3. UNDERSTAND THE MARKET CONDITIONS
4. CONTROL ONLINE REPUTATION
5. USING BIG DATA ANALYTICS TO BOOST
CUSTOMER ACQUISITION AND RETENTION
6. USING BIG DATA ANALYTICS TO SOLVE
ADVERTISERS PROBLEM AND OFFER
MARKETING INSIGHTS
7. BIG DATA ANALYTICS AS A DRIVER OF
INNOVATIONS AND PRODUCT DEVELOPMENT
5. • Different
forms of
Data
• Uncertainty
of Data
• Analysis of
Streaming
Data
• Scale of
Data
VOLUME VELOCITY
VARIETYVERACITY
4Vs
7. 6 main business drivers can be identified :
1) THE DIGITIZATION OF SOCIETY
Big Data is largely consumer driven and consumer oriented. Most
people now spend 4 to 6 hours per day consuming and generating
data through a variety of devices and applications. Some studies
estimate that 60 % of data was generated within the last two years,
which is a good indication of the rate with which society has digitised.
2) THE PLUMMETING OF TECHNOLOGY COSTS
The costs of data storage and processors keep declining, making it
possible for small businesses and individuals to become involved with
the big data. Besides the plummeting of the storage costs, second key
contributing factor to the affordability of big data has been the
8. 3) CONNECTIVITY THROUGH CLOUD COMPUTING
Cloud Computing environments have made it possible to
quickly scale up or scale down IT infrastructure and facilities
a pay-as-you-go model. Instead they can licence the storage
and processing capacity they need and only pay for the
amounts they actually used. As a result most of the big data
solutions leverage the possibilities of cloud computing to
deliver their solutions to enterprises.
4) INCREASED KNOWLEDGE ABOUT DATA SCIENCE
The demand for data scientist has increased tremendously
and many people have actively become engaged in the
domain of data Science.
9. 5) SOCIAL MEDIA APPLICATIONS
Social media data provides insights into the behaviours,
preferences and opinions of the public on a scale that has
never been known before. Due to this, it is immensely
valuable to anyone who is able to derive meaning from
these large quantities of data.
6) THE UPCOMING IoT
The internet of things is the network of physical devices,
vehicles, home appliances and other items embedded with
electronics, software sensors, actuators and network
connectivity which enables these objects to connect and
exchange data.
11. 2 benefits of Big Data Analytics :
1) COST REDUCTION
Big data Technology like Hadoop is cost efficient for storing
large amount of data. Hadoop is Java based technology
which is compatible with other platforms.
2) FAST DECISION MAKING
Ability to analyse a new source of data which makes it easy
for organisations and analyse information quickly aiding
faster decision making.
13. BIG DATA IN RETAIL
Through advanced analysis of their
customers Data, retailers are now
able to understand them.
Even a minute detail about any
customer has now become significant
for them.
This empowers them to provide
customers with more personalized
services and predict their demands in
advance.
This helps them in building a loyal
14. BIG DATA IN HEALTHCARE
The amount of data the Healthcare
industry has to deal with is
unimaginable.
From finding a cure to cancer to
detecting Ebola and much more, big
data has got it all under its belt and
researches have seen some life
saving outcomes through it.
15. BIG DATA IN EDUCATION
Big data is providing assistance in
evaluating the performances of both
the teachers as well as the students.
Some of the top universities are using
big data as a tool to renovate their
academic curriculum. Additionally,
universities can even track the
dropout rates of the students and are
taking the required measures to
16. BIG DATA IN E-COMMERCE
Big data's recommendation engine
is one of the most amazing
applications the big data world has
ever witnessed.
It furnishes the company with a 360
degree view of its customers.
Big data has completely redefined
people's online shopping
experiences.
17. BIG DATA IN MEDIA AND
ENTERTAINMENT
Media and entertainment industry must offer
their customers with new content to keep
them engaged with their firm.
The recommendation engine plays an
important role here as well.
Earlier the companies broadcasted the ads
randomly without any kind of analysis.
But after the advent of Big Data analytics in
the industry, companies now are aware of
the kind of ads that attracts a customer and
the most appropriate time to broadcast it for
seeking maximum attention.
18. BIG DATA IN FINANCE
The functioning of any financial
organisation depends heavily on its
data and to safeguard that data is
one of the toughest challenges any
financial firm faces.
Big data is bossing the key areas of
financial firms such as a fraud
detection, risk analysis, algorithm
trading and customer contentment.
19. BIG DATA IN TRAVEL
INDUSTRY
Through big data and analytics, travel
companies are now able to offer more
customised travelling experience.
They are now able to understand
their customer's requirements in a
much enhanced way.
Big data is gradually taking the
window seat in the travel industry.
20. BIG DATA IN TELECOM
Through big data and analytics,
companies are able to provide the
customers with smooth connectivity,
thus eradicating all the network
barriers that the customers have to
deal with.
Companies now with the help of big
data and analytics can track the
areas with the lowest as well as the
21. BIG DATA IN AUTOMOBILE
From analysing the trends to
understanding the supply chain
management, from taking care of
its customers to turning our wildest
dream of connected car a reality,
big data is well and truly driving the
automobile industry crazy.
