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SpinDistribute.com Article Directory

The following article was published in our article directory on June 9, 2018.
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Big Data: Definition and Uses

Article Category: Education

Author Name: Theodore Henderson

People know that nowadays, almost everything (and not only the Internet) needs information. That's the reason why everyone (civilians, government and businesses) want to collect data. What's more shocking is that collecting data is also a kind of business nowadays.

What is Big Data?

Just as its name states, Big Data is a term that is used to describe the collection of volumes of data, structured and unstructured alike. It comes in different forms, namely: personal (e.g. name and address), tax information, telephone number, medical history, etc. It could also include audio and visual information such as CCTV footage and online browsing habits.

Most of the time, those who need it tend to collect loads in either short or long-term basis.

Who needs 'Big Data'?

In the past, only the politicians and big companies are the ones capable of collecting these massive amounts of data due to financial reasons. Nowadays, however, even small businesses are able to collect data, thanks to the steady rise of the Internet and Information Technology demand.

How Big Data Works

Regardless of those who collect Big Data, its purpose is to provide information to those who need it. As a matter of fact, some companies that specialize in this field collect huge amounts of profits from their clients.

Where will companies use the gathered data?

Depending on the type of provided information, companies can benefit from using the data. For example, Insurance Companies can save themselves from lots of headache if they have medical or tax information of their clients readily available. Police investigations and solving crimes can be a whole lot easier if they have more evidence. And most of all, online stores can give the right kind of ads and promotions to their clients if they have information regarding their customers' online browsing history.

Why is Big Data good for business?

Big Data is beneficial for businesses most of the time since it helps businesses (big and small alike) to know their customer's profile. Because of these, many companies have been saved from bankruptcy and fraud since they are capable of checking their client's personal info at an earlier time.

Is Big Data really that effective?

Some experts say that Big Data is accurate most of the time. But sadly, it is not that effective since most companies don't make an effective strategy that will support it. Regardless of their reason, collected facts and data are mostly ignored by the companies themselves, resulting to increased expenses and wasted resources. In addition to that, gathering data could lead to questions regarding privacy issues.

The companies that use it, on the other hand, benefit greatly from the information that they collected. Not only do these companies save a lot of money; they also earn huge amounts of revenue since most of them redistributed their collected data to those who need it.

Final Thoughts

Collecting Big Data is basically a necessity for every business. It will guide them whenever they need to make very important business decisions as well as help them earn more.








Keywords: Future of Work, Artificial Intelligence, Robotics, Machine Learning, Augmented Reality, Virtual Reality, Big Data, Self driving vehicles, Internet of Things, Information Technology, Gene Therapy, Quantum Computing

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