Big Data

  • Volume: The name Big Data itself suggest it contains large amount of data. The size of the data is very important in determining whether the data is “Big data” or not. Hence, “Volume” is an important characteristic when dealing with Big data.
  • Velocity: Velocity is the speed at which data is generated. In Big Data the velocity is a measure of determining the efficiency of the data. The more quickly the data is generated and processed will determine the data’s real potential. The flow of data is huge and Velocity is one of the characteristics of Big Data.
  • Variety: Data comes in various forms, structured, unstructured, numeric, etc. Earlier spreadsheets and database were considered as data. But now pdf’s, emails, audio, etc are considered for analysis.
  • Time
  • Cost
  • Product Development
  • Decision Making, etc
  • Big Data has enabled predictive analysis which can save organisations from operational risks.
  • Predictive analysis has helped organisations grow business by analysing customer needs.
  • Big Data has enabled many multimedia platforms to share data Ex: youtube, Instagram.
  • Medical and Healthcare sectors can keep patients under constant observations.
  • Big Data changed the face of customer-based companies and worldwide market
  • Structured
  • Unstructured
  • Semi-structured

Characteristics of Big Data

How are the Top MNCs Using Big Data Analytics to their Advantage?

1-Using Big Data Analytics to Boost Customer Acquisition and Retention

2-Use of Big Data Analytics to Solve Advertisers Problem and Offer Marketing Insights

3-Big Data Analytics for Risk Management

4-Big Data Analytics as a Driver of Innovations and Product Development

5-Use of Big Data in Supply Chain Management

Here are some Uses of Big Data and where it is used

  • Health Care
  • Detect Frauds
  • Social Media Analysis
  • Weather
  • Public sector.

Examples of how some MNCs are handling Big Data Analytics

  1. Amazon

2. American Express

3. BDO

4. Netflix

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Abhinav shukla

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