Use of Big Data in Modern Day Life (Essay Sample)
Use of Big Data in Modern Day Lifesource..
Use of Big Data in Modern Day Life
Big data can be defined as a composition of traditional and digital sources representing ongoing discovery and analysis. The data may be structured, multi-structured and unstructured in nature (Lisa 2016).Corporations have adopted the new mode of data and therefore cannot rely entirely on the databases to extract useful information that may help to improve their businesses.
Due to developments in the Information technology space, big data analysis has been made easier and to assess more complex ideas which the traditional approaches could not get their hands on. Social media, for example, introduced unstructured big data. It comprises of data which cannot be easily interpreted by traditional databases. Companies such as Facebook use the data of social interactions to give recommendations to their users based on their preferences (Xiaomeng 3).YouTube on the other hand analyses the videos a user prefers to watch and also gives recommendations for similar videos. The above companies’ usage of big data analysis enables them to increase their traffic and in turn, revenue is always sky-rocketing. The web data from social media platforms is also used by companies to perform churn prediction (Xiaomeng 7 ) It is a model which a company utilizes the existent data of a person on their social portal to pitch a product they think the user may be interested to purchase. They do so by looking at the opinions of a user and use them to their advantage in nailing new clients using social media. We have seen the likes of Facebook using custom-made messages to show a person how their friends think about them based on the interactions they have using video and texts on the platform. Big data of the information you post on social media can be used to show your character traits.
Biometrics is another example of big data. IT developments have enhanced how such data can be of help to determine the health status of an individual (Xiaomeng 7) Measuring of calorie intake by the biometric devices, for example, can help the physicians determine the risk of lifestyle diseases such as diabetes in a person. The information helps to avert any sudden ailments such as stroke because the data shows the blueprint of your body so to speak.
In the field of banking, credit score is an example of the use of big data (Xiaomeng 7) Banks use a person’s financial transactions and try to find a pattern on your payment of debts. Using these probabilities from all the financial institutions a person has interacted with, a credit score comes in. It is used by financiers to determine whether one is eligible for a loan and the limits are also set to ensure
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