Day 54 – Q 1.Big data is at the foundation of all of the mega trends that are happening today, from social to mobile to the cloud to gaming. Comment.
1. Big data is at the foundation of all of the mega trends that are happening today, from social to mobile to the cloud to gaming. Comment.
बिग डेटा उन सभी मेगा ट्रेंड्स की नींव पर है, जो आज सोशल से मोबाइल पर क्लाउड से गेमिंग तक हो रहे हैं। टिप्पणी करें।
Big data is term for data sets that are so large or complex that traditional data processing application software is inadequate to deal with them. It refers to the use of predictive analytics, user behavior analytics, or certain other advanced data analytics methods that extract value from data.
The advancement of technology has allowed companies to reap the benefits of streamlined processes and cost-efficient operations. But the one thing that has become a game changer for businesses of all sizes is the availability of data from every source imaginable – social media, sensors, business applications, and many more.
- Big data in cloud computing: Big data in cloud computing allows faster scalability, allows the lowering of cost of analytics. Also big data projects require immense infrastructure resources, which traditionally would also mean high on-premise capital expenditure (CAPEX) investments. But the cloud’s Infrastructure-as-a-Service models have allowed companies to practically eliminate its biggest CAPEX expenses by shifting these into the operating expenditure (OPEX) column. So when you need to set up your database servers or data warehouses, you won’t need to make massive upfront investments.
- Big data can be analysed for targeted delivery if schemes, maintain a record of beneficiaries, analyse the response of the electorate to policies, predict future trends and demands of the population
- Patterns of investment, savings and expenditure can be revisited with changing time and government can instil such changes in its policies
- Geo-tagging in MGNREGA can help analyse the effectiveness of the policy geographically and bring in required changes
- The Digital India and Smart Cities initiatives of the government also include efforts to utilise data to design, plan, implement, manage, and govern programmes.
- Help to understand customers profile and needs, keep centralized data of sales, maintain the individual history of each customer and deliver customized services.
- Uber uses big data in a big way to improve its customer service; when a customer requests for a cab, Uber analyzes real-time traffic conditions, availability of a driver nearby, estimated time for the journey, etc. and provides a time and cost estimate for improved engagement.
- In a highly mobile world today, the mobile app has become the centerpiece of all communication strategies for every business. It is estimated that the mobile app market will reach $189 billion by 2020. Although thousands of companies across the world are building mobile apps every single day, it is through technologies like big data that you can really boost app-performance and fuel user engagement. Big data puts real-time data to work to offer personalized experiences that cater to the needs of the users in the most effective manner.
- Antibiotic Resistance: Big data can provide insightful information about the unregulated sale of Antibiotics without prescription. The data generated can be used for developing statistical models to show the relationship between antibiotic consumption and associated resistance.
- Urbanisation: Massive amounts of data generated by cities can be used to improve infrastructure and transport systems as Singapore has done.
- Seed Selection – Big-data businesses can analyse varieties of seeds across numerous fields, soil types, and climates and select the best.
- Weather – Advanced analytics capabilities and agri-robotics such as aerial imagery, sensors help provide sophisticated local weather forecasts can help increasing global agricultural productivity over the next few decades.
- Insurance: Crop-related ground data helps crop insurance companies for accurate assessment of risk and speedy settlement of claims.
- Science and Technology: Research data can be captured at more depth and analysed in a better way. For example, data at Large Hadron Collider for atomic research. In future we are moving to the Internet of Things which will be based on machine-to-machine communication and each machine will have several Gigabytes if data about itself and others for simulating processes.
- Gaming: The gaming industry does $ 20 billion in annual revenue in America alone of which 2 billion in sub-category social games. The gaming industry uses Big Data to drive customer engagement, make more money on advertising and optimize the gaming experience.
In social surveys also, now we can capture a larger sample of the population for evaluating trends and undercurrents. The use of information technology, open-source data, and proper governance will help in improving human development indices.
Big Data, Artificial Intelligence and Internet of things are going to change the world forever. Actively engaging policymakers and researchers is crucial to bring in cross-sectoral transformation.