If you want to know what is BIG DATA, you will find a lot of information in this article. This term has recently become more and more popular all over the world, although it is used mainly by analysts and conspiracy theories fans. So what is it all about, and why many people are concerned about advances in information processing. You will learn everything from the text below.
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If you haven’t heard the term big data yet, you are probably wondering what exactly is it about. In fact, in the case of data flow, we are dealing with a ubiquitous phenomenon. The term big data means that data is present in every aspect of our lives. However, on their basis, large amounts of valuable information are generated in the processing.
The development of modern information technologies has put us in a completely new situation. Modern computer systems are able to process huge amounts of data and convert them into information. Big data can benefit both businesses and consumers. However, many people believe that it can also be a huge threat to the average people.
So let’s define then what is big data
While the term big data sounds enigmatic, it simply refers to the huge amount of digital data that is available today. Companies and other organizations use special technological solutions to effectively collect, process and manage data.
The aforementioned analysts have an important role to play in the data processing. It is true that data collection is almost the exclusive domain of computers and programs, but the final analysis and drawing logical conclusions are still done by people.
To gain a competitive advantage, companies must continually find the most appropriate ways to use their data. For this purpose, both real-time information and historical data are very often used. Marketing campaigns are the most popular way of using big data, but politicians and experts in the field of sociology are also very eager to access huge amounts of data.
What is big data in a modern digital economy
Companies mainly benefit from collecting and processing large amounts of data, which can, for example, define the profile of their ideal customer. However, this is only a small part of the entire spectrum of possibilities of using modern data analysis.
Big data can be used to conduct market research and to improve production processes. The possibilities offered by access to accurate data are endless. Analysts and programmers play a very important role in the entire process, because each system requires proper preparation and service.
The use of databases, however, is not completely new to business. Companies have been creating lists of their clients and contractors for a long time. These statements contained basic data, such as name and surname, address or telephone number of the client. On their basis, sales reports for a given month, quarter or half-year were created.
Modern methods of collecting data
A huge amount of information about customers or potential customers can be collected using mobile devices. The company profiles we watch on social media, collect information about our behaviour and preferences. Specially programmed algorithms record our clicks, likes, and any other type of activity on a given portal.
The location function allows to accurately determine our geographic position, which provides a lot of additional information about us, as potential customers. As a result, companies can offer us more and more personalized services. Sometimes this process is also done in real time. An example would be banners that display different content depending on who is currently nearby.
What is big data, how can be used
Big data is used by many sectors of the economy and at various stages of production and sales. Managing large amounts of data allows you to monitor supply chains, which contributes to the optimization of production processes. Big data also turns out to be very helpful in medicine, enabling remote monitoring of patients’ health.
Data management is also used to:
- planning marketing and sales campaigns
- urban space development, planning large infrastructure investments
- designing artificial intelligence, the so-called machine learning
- human resource management in the enterprise
What is data mining
The process of searching large data sets for patterns, correlations, or repetitive sequences is called data mining. These types of activities are used, for example, to improve efficiency or reduce costs.
The data analysis performed allows you to discover specific variables that may be useful in the subsequent planning process. Data mining is used, among other things, in determining the target group of a given product. On the basis of common features, a specific base or group of customers is created.
The process of collecting and processing huge amounts of data is not only about the amount of data. The most important thing is how the data is used or abused. Many scientists and politicians believe that big data can pose a threat to our privacy if misused.
What is big data, and how to avoid abusing it
The European Union has recently introduced special regulations to prevent abuses in this area. The General Data Protection Regulation – GDPR, applies to every entity that processes the personal data of citizens of the European Union.
The Act specifies the conditions for collecting, processing and storing data. Failure to comply with the new law can be severely punished. Therefore, everyone who deals with big data should read the content of the above-mentioned regulations.
Similar legal acts have been introduced in other parts of the world. In the United States, the California Consumer Privacy Act (CCPA) operates, while the Canadian equivalent of the GDPR is “The Personal Information Protection and Electronic Documents Act” (PIPEDA).
The biggest challenge we face with big data is making customers aware that their data is of great value that should be protected as much as possible. Customers need to be aware of what is big data, how their data is used and the right to protect it.
You can read this article in Polish at: Czym jest BIG DATA