Essential things you must know about big data

Essential Things you must know about Big Data

People say that knowledge is the most important resource of all. Well, three decades back, the biggest source of knowledge was books. However, the advent of the Internet era changed a lot of things.

Let us now discuss the most important things you need to know about the concept;

USE OF BIG DATA Almost every business/industry uses Big Data on a regular basis. However, all these companies do not use the technology in the same way. Some examples of the usage include; •

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Automotive Industry – The automotive sector consists of millions of vehicles today. The major use of Big Data in the automotive industry is to define routes and paths for vehicles using the GPS (Global Positioning Satellites). Google Maps are a wonderful example of the technology used in the automotive industry.

Production/Manufacturing Industries – The technology is used to solve optimization problems in the manufacturing industries. It is possible for a company or a production plant to forecast sales projections and figure out the best means of manufacture and utilization of raw materials and other resources using the IoT and Big Data analytics.

Governmental Organizations – Several governmental organizations like banks, courts, etc. collect a vast amount of data to help serve the public better. The government often collects data to keep track of the country’s citizens and their progress.

FACTS ABOUT BIG DATA • •

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The Big Data collection is growing at an exponential rate.

The government uses Big Data in crisis management as well as the growth of industrial sectors. It is also used to understand the human brain and design automated equipment and AI that will eventually help in speeding up the progress.

Big Data is all about making sense of large data structures without compromising the integrity of the knowledge tree. It is not particularly related to the storage of data.

MYTHS REGARDING BIG DATA • • •

Big Data is necessarily a complicated data structure: It is a simple concept, and every person can use it to his/her benefits using the proper tools/education.

The use of Big Data is very expensive: You can use it free of cost at several places with the right equipment. As mentioned earlier, we all contribute to Big Data in one way or the other.

Only large companies require Big Data: Every big or small company requires access to analyzed data to establish and grow its business in the existing market.