Big Data Processing: A Scientific Concern for most Companies

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Published: 05th February 2017
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Big Data Processing: A Scientific Concern for most Companies

This present day information culture has created one thing above every other: data. A massive quantity of very diverse data flows thru the net at a higher speed. That is essentially Big Data and volume, variety and speed are the three axes where this concept goes around.

Data everywhere and counting

Many of us key in data in order to accomplish every day activities, for example paying in the shopping center, shopping over the Online world, generating a transfer by way of our banks Web portal or taking part in social media marketing. A great amount of data is usually obtained from cellular phones, light and gas meters and geostationary satellites. In reality, pretty much our complete life can be translated in to data.

This has caused technology organisations to create more sophisticated data processing centres and computer systems with higher storage volume. Purely to see the amazing evolution in such subject, let's take for instance the first 1-GB hard disk drive which was designed in 1980: the IBM 3380. It occupied the same room or space as the fridge, weighed 250 kilos and price 40,000 USD during that time. At present, anybody can procure a memory card the size of the paper-clip at an affordable price tag.

Fb wonderfully exemplifies the broad assortment of data this sort of program can hold from its innumerable users: gender, age, marital state, personal tastes, etc., i.e. all remarkably valuable information, especially for major companies marketing departments.

Accelerating the Big Data analysis activity

However, the quantum leap with regards to data management and use possibly lies in speed. They're right now apps that enable organizing Big Data analysis procedures right away that formerly needed to be operated in batches or throughout the entire night. This uncovers a new field of options for companies across all establishments, with-out exclusion. For example, car insurance companies may process client claims in just a few hours, while this process used to take several weeks. And health insurance providers can interpret complex data sets on customer health and thereby guess the health problems they can suffer from in barely some minutes. In particular, the insurance sector has appreciably capitalized on the advantages offered by Big Data processing and analysis when it comes to finding fraud, because they now can identify deceitful claims and prescriptions of ghost treatments.

The banking industry is one other of great beneficiaries for this technology. Customer support centers of significant financial establishments are utilizing predictive modelling models which allow them to embed Big Data from social media quickly. In this way, they have a comprehensive view of user on the other end of line: they do know their banking profile and individual backdrop, their response to some marketing strategies, their opinion over the customer service provided by the business, their account status and transactions. This was simply unimaginable a few years back.

Technology leaders much like Google, IBM, Microsoft, Oracle and SAP are already quite busy in formulating innovative business versions and services depending on Big Data processing. The document management software package market isn't far behind either and it has managed to apply Big Data to corporate paper-based files. Especially, they've formulated text recognition computer software that makes it possible to grab data from physical documents, process it and enter it in to Big Data systems from any sort of medium. In this way, Big Data not merely represents information on the Web, but additionally to all printed documents and digital files which are in a business's possession and consist of essential details.

Big Data processing and analysis, the underestimated potential

So far, so great. Then, where will the issue rise from? Precisely from the truth that, right now only a couple of organizations are able to achieving the best out of the details. As stated by Gartner, 85% of organizations contained in the Fortune 500 list aren't geared up to attain aggressive gain from Big Data. Plus the probability is substantial.

The disbelief that rules among some entrepreneurs must not be taken too lightly either. The question they often ask their-selves in this regard is: what is the return on the investment decision? Not a soul likes to wait for 5 years until the benefits out of Big Data processing and analysis could be seen. There's also some reluctance to the security breaches that could take place when managing so much and, most of the times, so sensitive details. Exactly due to this reason, governments around the world have enacted data protection regulations so as to decrease the possible effect and avert as much as possible the wrongful or deceiving usage of information. Of course, it shouldn't be ignored that accumulating, retaining and interpreting sensitive information may skimp users' privacy. People who handle this information never ask approval to utilize it for their own profit. And lastly the much feared hackers, able to opening an organization's bank accounts and stealing very sensitive data.

In a nutshell, agencies control an extensive amount of really treasured data, but many of them do not know how to leverage upon it. Adequately used, Big Data processing and analysis allows companies to guess weather changes, improve crops, speculate capital market activities, realize a product's general performance, etc. It can be most beneficial when making a customized offering or making faster and wise selections. All now we have to do today is wait a few more years and determine if or not agencies are capable to overcome this challenge.

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