Fri. Mar 29th, 2024
Big Data

Simply put, big data indicates vast data that can get unassessed or assessed, unstructured or structured. It can also be an untapped resource or a potential issue for a wide range of industry verticals. Big data is vast and complex to manage by using conventional data processing measures. It usually needs using supercomputers, intricate algorithms, artificial intelligence (AI), and machine learning. 

When you evaluate data, it can suggest useful trends, patterns or probabilities on the topics, ranging from shopping behavior, medical results and even government defense. And what is distinctively exciting about big data analytics is that it can get conquered effectively. It has the scope to alter the way that all businesses and sectors function. Hence, according to experts, it’s a fruitful segment to invest. If you want to learn more about big data and other allied topics, you can check out RemoteDBA.com

How eBay makes use of big data?

eBay is a leading American e-commerce multinational brand with its base in San Jose, California. The brand is presently using tools such as Kafka and Apache Spark. eBay is also making use of an interactive enquiry engine on Hadoop, known as Presto. The eBay website uses big data for many functions, such as detecting fraud and assessing the website performance. The brand also uses big data to analyze customer data so that users purchase more products from the company website. 

Today, eBay comprises of active 180 million sellers and purchasers on its website. And approximately 350 million things get registered for sale. That is not all. The total number of queries every day through the brand’s search engine is close to 250 million. The brand has been using big data to serve customers better and enhance its operations. 

Big data and business efficiency

Big data analysis has distinctive possibilities for bringing effectiveness to several business segments and markets. Some instances include the following:

  • Keeping a track of the customer traffic patterns at a physical store, shopping and spending search habits online and syncing the data to buy patterns which can help the retailer target its users in a better way. 
  • Managing traffic and computer congestion that can set the best bus and train schedules. 
  • Keeping a track of online activity, online searches and blending the standard searchers for things like cars, customer staples, vacations, cars and any other generic spending habits for assisting the targeted ads for customers might result in maximized e-commerce sales. 
  • Collating data on multiple side effects and symptoms on the patient enables the doctors to have access to the probabilities of multiple outcomes and treatment regimens depending on the data. 
  • The financial services firms can assess the data to decide the probable investment risks and better plan how to use the balance sheet. They can utilize big data for creating more efficient modeling and forecasting for forthcoming investments. 
  • Collecting intelligence and data from the government agencies can assist to formulate certain defense strategies. 

Delving deep into big data and its essential aspects

It is essential to know what all big data comprises of? The big data can get drawn from several sources. It comprises years of data stored in customer databases on the earlier activity. It gets sourced from emails, documents, medical records, driving records, social media activity, internet history, mobile devices and computer logs. The other places from where you can get big data are collated data or research that organizations or data scientists compile. For example, many doctors might manually enter multiple patient statistics. The researchers can source the data and then evaluate it through AI. And here it is mostly mathematical models that get designed to come across certain patterns that can be useful for future detection. If you want to know more on big data and other allied aspects, you can check out RemoteDBA.com. 

Let’s understand this with an example. Here, there is a need to use studies done on several health records and nationwide databases that can’t get assessed manually and needs using innovative AI services. For instance, a cardiologist can analyse the results of multiple heart surgeries for discovering the new processes and remedies to avert specific complications, associated with the post-operative care strategy. The huge data sets can be stored by the governments, banks, and retailers waiting to be assessed and used for work. The competitor studies, sentiment analysis and marketing analytics are extra instances. The primary themes in this data type are that it’s vast and is not possible for manual management and at times is also unstructured. 

The advantages that big data has for businesses

At this point we need to discuss why big data can be advantageous to the multiple kinds of businesses. It’s essential to think about how to clean and use the data and the organizations that can benefit from it. Take some time to reflect the way the world has moved forward concerning available data, then you will notice that the number of devices that resulted in the exponential information accessibility for the organizations and the growth in the future in multiple segments which address this and have the potential for expansion. 

Today, particular potential investment scopes comprise of organizations that are pioneers in SaaS, cloud, data storage, analytics, and IoT. For instance, you can consider the case of MicroStrategy, that is a brand specializing in business intelligence and providing necessary assistance for ad hoc queries, formatting reports, and automating multiple data into dashboards and reports. There are also brands such as Cloudera that describe their business as providing enterprise data cloud or transforming any information anywhere through AI. The other prominent player here is Snowflake, which is a cloud computing information warehouse organization. All these brands have clientele that can comprise of anyone from CIA government to the U.S Army to the hospitals, banks, retailers, and insurance organizations. Hence, today, most businesses are impacted by big data analytics services. That proves it to be a good space for investment.

By Manali

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