Technology has come to the horizon of developing intelligent automatons. This has become possible owing to huge developments in technology infrastructure and information. One such modern development is Big Data. Big Data is a field that treats extremely large datasets for better analytics and computational results. It is already on its way to transforming a number of sectors linked to people’s lives.
Big Data in the Government sector
The government of a country has voluminous data on its citizens, topography, mineral wealth, unemployment, and more. Governments across the globe use this data to make policies for its citizens, and scientific methods like Big Data analytics come a long way in helping them with the same.
- The government makes use of Big Data to create welfare schemes that will turn out to be effective after they are operational. To develop such schemes, the government relies on the data it has collected from people and other sources on a number of fields.
- The cyber threat prevention agencies rely on Big Data to recognize loopholes in the digital setup and hence prevent data theft. Moreover, tax evaders can be tracked using Big Data findings.
Big Data in Media and Entertainment industry
The rise of social media platforms has given a new aspect to communication. Almost every person that possesses a smartphone casts his/her social footprint on the web, which in turn is stored on the servers and hence contributes to creating a database.
- The media and entertainment industry can predict user interests and hence steer in the direction of creating popular media projects.
- Big Data helps in pinpointing animosities and get a visual insight if audience reviews.
- Big Data can help the advertisement industry to target a specific audience based on the data analysis.
- Example: Spotify provides auto-suggestions and music recommendations to users on the basis of analyzed data collected from users all over the world.
Big Data in Weather Forecasting
Weather forecasting agencies and other big corporations across the world rely on data collected from a number of satellites to predict accurate weather for different regions. Accurate weather forecasts help in making necessary preparations for times of crises. Moreover, natural disaster patterns and freshwater statistics can also be deduced from the images provided by satellites.
Big Data in Banking Sector
The data stored by banks is to grow by 700% by 2020 according to a study conducted by GDC prognosis. It turns out to be Big Data literally and otherwise. This data can be used for tweaking key banking operations for better security and customer interaction.
- Big Data can help to curb the misuse of credit and debit cards
- Big Data provides business clarity to the leading management of a bank.
- It may help to mitigate the financial risks when analyzed effectively.
Billy Mark is a Microsoft Office expert and has been working in the technical industry since 2002. As a technical expert, Billy has written technical blogs, manuals, white papers, and reviews for many websites such as office.com/setup.