Since the internet has spread around the world, data has become centre of the essentials needed to run the world. In today’s world, each and every activity requires some data to be processed and without this, the world might return to stone-age. On a daily basis it is estimated that Google processes 20 petabytes (PB) of data. Whether you have to pitch stocks, or to file financial reports or you have to provide better service to your clients–what you need is data to analyze it. And the list just goes on in all the cases.
|Types of Big Data
||Structured, unstructured, semi-structured
|Data created in last 2 years
|Big Data computational Framework
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How data can be advantageous in a real life scenario?
Consider a situation when you have travelled abroad. It is most likely that you would like to use your cell phone for international calls. Advanced data management techniques are applied to big data to determine whether your device can use other networks in different regions or not. If there wouldn’t be big data it would mean that you have to be dependent on public landlines while on your trip.
After reaching your destination, you have to check-in to your hotel. When you hand over your credit/debit card for the first time at this destination, to determine the chance that this transaction is fraudulent, behind the scenes big data analytics are being run against your profile.
One could have done all of these things before our current age of big data also. But it would have required to interact with travel agents and with telephone operators in order to make international calls and many other such hectic tasks.
Can you imagine what will happen to our world if there is no data? Well, if you cannot here are some ways in which the world would appear like if there is no involvement of data.
Financial institutions are heavily dependent on big data. This is one of those industries that heavily generates and consumes data. Financial institutions would not be able to survive without data as processing of data either for customers or for clients is their main task and many other industries will also be affected as a result in case they are not able to provide their clients required information. Since, data and statistics go side by side; you can say that data is the raw material for the financial institutions.
Sales and Purchase
How much raw material is needed to manufacture 50000 units of your product? What is your marketing strategy of your firm? Oops! You won’t be able to answer these queries if you do not have data. You won’t be able to know where your customers are, and no longer you will be knowing your target audience.
If there will be no data to analyze, Data analytics will be no longer in existence.
The end of data will lead the end of whole digital transportation. Some of the most innovative companies that developed the signaling system will become history and in the absence of alerts on their devices, you won’t be able to know where the train is unless it reaches on a station.
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Automobile sector will take a U-turn towards the past if there is no data tto analyse and work upon, because these companies are highly dependent on data driven business intelligence in order to enhance their products. Today, in general every car manufacturer uses a small computer to process data inside the cars which assist in giving a better and safer driving experience.
‘No data’ equals to ‘no tech’.
As I have mentioned earlier, 20 PB of data on a daily basis is processed by Google. There will be no Google and other many such services that are related to the internet. And hunting and gathering is the only thing you will be left with for getting information.
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These examples just show a glimpse of the world without data. All business models and strategies will cease to exist which will lead to the collapse of whole economic structure of the world. Renaissance World of 1500s will be back and a person will have to travel thousands of miles to say a single word to someone who is residing at another place. In short, the key that opens your business is data, your brand and your life to a whole new world of opportunities is totally dependent on “BIG DATA”.
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