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Two-and-a-half quintillion bytes of data are created daily. This could potentially rise even more thanks to better internet access. Today, we can collect big data from every imaginable field we’re able to monitor digitally.
The volumes are unprecedented. Big data refers to large sets of info that are analyzed for trends and patterns that offer useful insights. Special emphasis is placed on analyzing people’s behavior and interactions online.
The challenge, however, is in figuring out the best way to process, analyze and make useful insights of the information gathered.
Here is why big data is such a big deal.
A Customized Entertainment Experience Just for You
Data on the kind of entertainment we like (e.g., music, videos, movies) can be analyzed, and the insight drawn from it can be used to tailor make a unique experience just for us.
This phenomenon is best observed in music streaming services that process both crowd-sourced data as well as data drawn from their libraries to come up with the most suitable playlist for us. In streaming sites such as Spotify, one gets the added advantage of a new playlist every week.
Big Data Contributes To Our Safety
When it comes to the relationship between big data and safety, the impact is much more indirect. Insights drawn from big data are used to predict the places and blocks of time that crime is likely to be committed.
The information provided can assist police to determine where to station their officers as well as what times.
While we might be a little far off from the predictive accuracy seen on films like Minority Report, having police at the right place and at the right time will inevitably save lives, and that’s an invaluable improvement.
A Much-Improved Online Shopping Experience
We all know too well how difficult it can be to find a product that suits our specifications online. Online retailers, using big data insights, can send personalized recommendations on goods to purchase and save you the trouble. Moreover, there’s the added benefit of credit card safety. Big data enables online retailers to discover fraud and protect user information.
Another way big data technology improves your shopping experience is by oiling the wheels of the supply chain to ensure products are received faster.
Improved Health Services
Increased digitization of medical records and the ability to monitor patients in real time make it easier for doctors to see how effective a type of medication is on whole populations. The course of action chosen after conclusions drawn from the data are deliberated upon could save lives.
An added advantage is that any emerging diseases can be easily tracked, isolated and nipped in the bud before they become a health crisis. Big data also reduces health care spending.
According to Mckensey, the employment of big data on a nationwide scale in the United States could reduce health care spending from between 12% -17%. Given the large sums spent yearly on medical care, this would represent a significant drop. The progress will also signal an extra step toward cheaper health care for all.
Big Data Keeps You In The Loop
Big data not only determines what news stories flood our timelines, but it also informs the surface content for social media sites such as Twitter and Facebook. The content referred to of course being the subjects that are most talked about at a given point in time.
Social media also serves as a resource for journalists seeking critical information for stories they are working on. An example can be seen in how Twitter’s search features can help a journalist gather all the posts made in a particular timeframe and mine them for info.
Chatbots Improve Your Online Experience
Chatbots have become part and parcel of our daily lives thanks to their efficiency and reliability. Big data enables chatbots to provide us with any kind of information we seek.
Data drawn from multiple sources (e.g., online purchases, conversation history, etc.) assists chatbots to provide a personalized experience for you. The two reasons could explain why they caught on in the first place, but the reason why we still use them is that they’re continually improved.
Chatbox analytics helps bot creators to iterate their chatbox, hence making it better. These improvements are facilitated by big data technology.
Improved Air Travel
Airlines have now embraced big data in an effort improve their customer service. The cumulative data of the destinations and purchase options of all customers is leveraged to predict what a customer’s likely preferences are going to be.
Levering big data will also enable airlines to know more details about their passengers in the future to provide a more personalized experience.
Information of particular importance includes the nature of allergies passengers may have as well how they like their coffee made. The cumulative effect for all customers will be improved customer experience and safety.
Gaming Will Only Get Better
In the course of gaming, each player produces a large data stream that can be a source of numerous insights on his/her preferences.
Video game developers analyze all the data garnered from gamers and use their findings to curate unique and engaging gaming experiences for them.
Big Data And Artificial Intelligence
Modern-day processes are becoming more and more automated, thus opening the door for artificial intelligence and machine learning — both of which are dependent on big data for their growth and success.
Big data is, therefore, not only changing our lives on a day-to-day basis but also influencing the near future. Businesses on the lookout for AI solutions and advanced mobility products need a guarantee that they are getting the best expertise in the market.
There is no doubt that big data is changing how people live their lives in ways that they could never have imagined. Stay tuned, because how the treasure troves of data are processed, analyzed and then put to use moving forward might very well affect nearly every aspect of our lives in the very near future.