The Benefits of Big Data in Industries



According to the article, Big Data refers to large amounts of data both structured and unstructured. Big Data is described as a phenomenon which became popular at the start of the 21st century. Businesses and other netizens (people who use the internet) create very large amounts of data on a regular basis. 

The article examines four perspectives to help us better understand why Big Data Analytics is important. These perspectives include: Data Science Perspective, Business Perspective, Job Market Perspective and Industries Perspective.

Many large businesses use techniques such as data mining, machine learning, natural processing and statistics in order to get an analysis. First, the data is extracted from the source, then it is prepared and blended for use. The sets come from many different sources such websites, networks and one of which has become increasingly popular these days; social media. Special tools are used for data analytics such as Apache Hadoop, Cassandra, Storm among others.

With regards to business, the data analytics tools such as Hadoop have the advantages of reducing storage costs. The benefits of data analytics tools is that they save time and are thus, more efficient.

The article continues to inform us of the growing demand for people who specialize in data analytics and the attractive pay and benefits for those who are certified in that field. There is a need for data analytics in every field, and people can expect to get job titles such as; Business Consultant, Big Data Analyst, Solution Architect and many others.

Big Data Analytics is found in many industries. These include; education, banking, healthcare and energy. The banking industry remains the top user of big data analytics as they use these with regards to assessing risk, lending out loans, dealing with credit scores and handling interest rates just to name a few. The education sector is constantly doing research for data analytics. Can you think of other industries and how they use big data analytics?

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