As you know that big data is a collection of huge unstructured and semi structured data. There are different steps for processing big data from data integration to present the results to clients. Big Data processing needs several resources in which you will have to invest money. It needs several hardware, software and human to analyse. We will see the cost for each and every resource in detail below,
Data are now key factors for every sectors and functions in any size of company. Every sector and department couldn’t strike without dealing with data. So, Bigdata is playing an important role in the improvement of a company. The use of Big Data is to retrieve important and useful information from the large amount of unstructured or semi structured data.
Today, retail is driven by data and technology. Big data is becoming really important to retailers. Retailers must adopt big data and digital skills to get succeed in a sector. According to a survey from “101Data”, 96% of retailers reported that big data was important to them and 48% of retailers reported that big data best fit with their marketing department.
Today Big Data is changing the way of our thinking. It’s changing the way of living and working. We are leveraging Big Data in our growth so that everyone can contribute and take advantages. The big data analytics makes life easier and more goal centred. Analysing huge amount of data gives us more accurate decision making ability. With these benefits it is also affecting our social life. Our social life can revolutionize after applying the big data analytics. There are many area from which Big Data can revolutionize social welfare. I am listing out some of them with reasons that how it can revolutionize social welfare.
Online life will be safer– Now a days everything went online. Our life is almost dependent on online services. From Shopping to Education, Transaction and many more we used online services. But this method is no more so safe. Others may hack your information and misuse those data. Big data can help us in this problem. By analysing the hacker’s pattern it can improve the security of your website.
Education– Today’s education cost is rising twice than any other sector. So we need to find an alternative of these traditional education system. Big data can help us to provide these study materials online. So that all could have easily access to the education.
Health Care– The most impact of big data on our social life is in healthcare sector. It helps doctors to find the pattern of any disease and on the basis of that pattern medicines for that disease can be invented.
Transport- The advantage of big data is also in transportation. In transportation there are multiple of uses of big data from analysing the traffic to road safety and security purpose. Data scientists can find the behaviour of people on road. By analysing the transportation data the pattern of accidents can be identified and their solutions can be generated.
Career opportunities- There are many websites which help job seekers and employees to find their jobs or employees. Job-seekers find the opportunities according to their skills and employees used to get their best meet on the basis of candidates skills
Business future- To plan the future of our business we need to go for big data analysis. Those business decision will take your business far away from your competitors because those decision will be based on the real experience of your customers.
Weather forecasting- Big data can also help our social welfare in weather forecasting. It will give great benefits to all but specially to farmers because most of time they dependent on weather. So use of big data in this area will revolutionize the whole society welfare.
Big data creates a lot of opportunities for every sectors people just need to catch those opportunities for the development of their own and as well as society. One more great use of big data towards revolutionize social welfare is in anti-poverty programs. Big data helps to create difficult policies for the anti-poverty programs. For these type of applications a large database set is needed and linked to different social data sources to get huge amount of information regarding our social life. Then only we can apply these benefits to revolutionize social welfare.
Small business owner may think that big data is for large companies with big time technology budgets. In reality, it is not. Small business can also stand for big data benefits within available – small budget. A small business needs to look at big data in different perspective as they may not know how to start and where to start or may not know if big data exist in the company.
Data monetization means generating more and more profit from Big Data. Today, every business owner is trying to focus on Big Data to get values from it. These values help them out to make business strategies and increase ROI. By the analysis of the data, organizations come to know more about their customers, vendors, and their behaviour, pattern, etc. This information helps them to make their strategy according to the needs and demands of the customer – effectively serve the entire stakeholders better.