Big Data Cases and Scenarios 2
""Big Data is now one of the most valuable assets in the world next to energy, and you need to consider investing in it.""
Technology using Big Data has the potential to help companies and organizations improve operations and make faster, more intelligent decisions. The data is collected from a number of sources including social media, emails, mobile devices, applications, sensors, databases, servers and other means. This data, when obtained, formatted, manipulated, stored, and then analyzed, can help a company gain useful insights in order to increase revenues, get or retain customers, and improve decisions, operations, products, and services.
The firm IDC forecasts a compound annual growth rate (CAGR) of 11.9 percent for the market through 2020, when revenues will top $210 billion. The company projects particularly strong growth for non-relational analytic data stores and cognitive software platforms over the next few years. It believes that by 2020, enterprises will be spending $70 billion on big data software. Surveys of IT leaders and executives also lend credence to the idea that enterprises are spending substantial sums on big data technology. The NewVantage Partners Big Data Executive Survey 2017, found that 95% of Fortune 1000 executives said their firms had invested in big data technology over the past five years. In some cases, those investments were large, with 37.2 percent of respondents saying their companies had spent more than $100 million on big data projects, and 6.5 invested more than $1 billion.
Why Big Data is a big deal? Data has intrinsic value. But it’s of no use until that value is discovered. Equally important: How truthful is your data—and how much can you rely on it? Today, big data has become capital, it's the new currency and oil of any business. Think of some of the world’s biggest companies like Facebook, Amazon, Netfirms, Bank of America, Google, Tesla and even governments in different countries use a Big-Data-Driven initiative for their decisions to become more reliable. A large part of the value these corporations offer comes from their data, which they’re constantly analyzing to become more efficient and develop new products and services.
Recent technological breakthroughs have exponentially reduced the cost of data storage and computing, making it easier and less expensive to store more data than ever before. With an increased volume of big data now cheaper and more accessible, you can make more accurate and precise business decisions.
"Big Data is the key to real opportunities! Data is the source of tremendous goods that create possibilities."
Finding value in big data is a challenge, it isn’t only about collecting and analyzing information. It's all about creating solutions based on real problems. It’s an entire discovery process that requires insightful analysts, business users, solutions providers, and executives who ask the right questions, recognize patterns, make informed assumptions, predict behavior, and create solutions. Below are some big data cases and scenarios:
- STREAMING SERVICES: Companies like Netflix, Spotify, Amazon, Disney Channel, SONY and AppleTV use big data to anticipate customer demand. They build predictive models for new products and services by classifying key attributes of past and current products or services and modeling the relationship between those attributes and the commercial success of the offerings. Imagine that pretty soon, you could be watching movies and shows with your friends and family—suggested all according to your moods, social life, and interests.
- AUTONOMOUS TRANSPORTAION: Tesla, Google, Apple, Aptiv, Ford, Audi, BMW, Toyota, and Amazon are some of the company heavily invested and focuses on autonomous transportation. Car manufacturers get closer to successfully developing a fully autonomous vehicle. Over the last several years, major tech companies have paired up with car manufacturers to develop the advanced technology that will one day allow the majority of vehicles on the road to be autonomous like Apple's Project Titan, Google, UBER, and Amazon. The vision of autnomous cars is to enable self-driving vehicles with the ultimate goal of reducing accident to zero, enabling smoother transportation, security, and providing mobility for all.
- SMART HOME: The revolutionary phenomenon of the Internet of Things (IoT). Smart home data analytics solutions are currently focused on customer engagement. Driven by the rapidly growing adoption of smart appliances, the installed base of smart home devices in the U.S. alone will reach 244 million in 2022, according to a new Forrester Research forecast. More than 100 million Alexa devices have been sold. More than 100 million+ devices with Amazon's Alexa assistant pre-installed have been sold according to Amazon. New devices with safety sensors have appeared for Smart Home. All these devices are operated by the Internet and are controlled by our smartphones and tablets. This perspective is known as the Internet of Things (IoT). The main ideology behind this idea is to operate entirely on automation with a system IoT activated, all devices will be controlled remotely. These connected devices are smart because they are able to interpret and analyze user data. With this data, security companies can increase security measures over time. In addition to this, this data collection also helps to improve the comfort and safety of individuals inside their homes.
- SMART CITY: There are many elements that make a city smart. Water management, waste management, transportation, and safety are some of the many areas of focus. Smart city label refers to the notion of harnessing the power of Big Data to improve the running of our city and civic amenities and infrastructure, covering everything from city monitoring, citizen concerns, transport system and the like. It enhances the quality and performance of urban services such as government service, energy, transportation, and utilities in order to reduce resource consumption, wastage, and overall costs. In the approach to the smart cities mission, the objective is to promote connectivity to the cities that provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment, and the application of smart solutions solutions.
- NATIONAL MONITORING: Ensuring the safety of everyone is a top priority for any government and it is important to protect the people in any scenario. To avoid any troubles within our land, predictive analysis can be of help to study historical and geographical data to recognize when and where crimes are likely to happen. A significant amount of improvement will be seen when the desired data turns a country into a much safer place. Big data and data analytics technologies can increase the investigative capabilities of intelligence organizations in many relevant aspects, including: war on crime & terror, defense from cyber-attacks, public safety analytics, disaster and mass incident management, and development of predictive capabilities. All fields of Intelligence benefit from big data growth—including cyber defense activities, and financial investigations. A growing number of countries increase monitoring of citizen activities claiming enforcement of public order. USA, Russia, Europe, China and other countries are expected to increase investments in big data gathering and intelligence gathering for internal security on vast amount of people. It's all about protecting our citizens from any threats.
Big Data is a defining feature of modern society. Human to machine and machine to machine interaction creates trillions of megabyes of data. As data becomes more prominent and readily available, the temptation to analyze them and make sense of the world through specific analytical methods or algorithms grows and becomes more difficult to visualize. But big data is most useful when combined with human judgement; data and the algorithms strip out much of the context in which humans interact. The future of big data technology lies in humans’ ability to embrace the power and mitigate the limits of algorithms.
"In Big Data, it is not about answering questions, it's about creating new questions..."
Artificial Intelligence is way too complex for now to use as a method to handle and automate everything, but soon it will become possible. They said that AI will be the last piece of technology invented by humans. Well see and think again. AI Technology today has a limitations, no one-size-fits-all solution means trying to use different tools and tasks to carry out a range of artificially intelligent tasks—which bcan become expensive, time-consuming, and very complicated. Most AI now can't communicate with each other yet because they have different algortithm, uses, and functions.
For now let's focus on Big Data itself and how we can maximize the potential of it using existing technology such as AI, IoT, Autonomous, Blockchain, and the like. You need to understand that all technology nowadays needs data to function properly and become useful. The intention to predict the outcome for us is the real value of data visualization. If you want to utilize big data in your organization, you need to concentrate on the business objectives - not on the technology. You should first understand the type of goals, problems and scenarios you've encountered, followed by the type of outcome, actions, and solutions that you want to implement. The organization needs to focus on business innovation with big data as their front-line. It is more about visualizing the goals, current situations, finding patterns with your structured data, and predicting the outcome rather than guessing and being ignorant to the reality and data right in front of you.
This is not just about data anymore. You are now applying big data that can change the business for bigger opportunities. If you do not adapt and implement it, others will do it first and dominate your industry. Instead of sitting there and guessing why your competitors are growing and you are not, think of changing your corporate formula, start your big data initiative now and see the difference; connect with the right people and use the latest big data technology available and you will not regret it. Big Data is powerful, and it opens big opportunities to any organization of people who understand it. It's not just a theory, hype, or buzzword anymore.
If we apply Big data to to any organization it can enable or offer big opportunities to improve our services, products and operation. The variety of inputs in big data allows better levels of certainty about status reports and forecasts. Big Data can provide more helpful indications of levels of risk before a threshold is exceeded and an alert generated. They also offer insights that traditional systems simply cannot. If you want something better that will bring in more revenue for your organization, start your big data initiative, as it can deliver a competitive advantage and turn Big Data into a win-win situation.
Big Data is everywhere! it can dominate your industry if you apply it in the right way and with the right team—who understands the technicality and can create the right algorithms and models that can automatically bridge problems with solutions. Big Data will continue to have an impact on all businesses, organizations, and government agencies, and to individuals in the years to come. It's the core energy of every piece of technology you can imagine.
"Don't just tell them what you can do, Show them" - Napoleon Hill
Clem Montuerto - Enterprise Solution Architect
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