Why Big Data Analytics is a Buzzword and demands its Understanding today?

By POOJA BISHT |Email | Apr 4, 2019 | 1707 Views

'Big Data Analytics', let's try to segment this word and understand what does it really mean before going in depth on the topic. Big Data as defined by Gartner is high volume, high velocity and/or high variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation. 
The high volume signifies here to the greater amount it is generated from various online platforms like social media, browsing histories, banking, healthcare, telecom sector and almost every other platform which is online and takes away some of the other information from us.

The high velocity refers to the speed data is getting created every minute. It was estimated the Quintillions of data are created every day which is really very very large. Data is not limited to a particular amount of information or a particular form when a variety of data is getting created in terms of photos, audios, files 
etc.
Analytics refers to analyzing this data which lies in both structured and unstructured form and finding relevant information and insights out of this raw uncleaned data. 
Now if you will join these two words I hope you will get a fairer idea of this buzzword- 'Big Data Analytics'.

The reason why Big Data Analytics is a Buzzword today and demand its Understanding is because of its wide variety of usage. I mean which sector is lagging behind using this Big Data Analytics? Almost every sector is using Big Data Analytics to find that useful information which is essential to drive the business ahead.

The Banking sector is using it to determine fake and fraud customers having past histories of fraud done with Banks. There are many people involved in doing frauds with Banks and flew away with money leaving the Bank in an empty state. I hope you must have also come across those cases. But thanks to Big Data Analytics that with the help of it it has now become easier for Banks to analyze past records of their customers and identify fraud cases and secure its money.

Companies having online businesses use Big Data Analytics for recommender systems. Whether it is about the recommended articles you get to see while doing an online purchase or the targeted advertisements you get based on your interests while surfing online, It is all with the help of Big Data Analytics. 
The 'people you may know list' and the suggested pages while scrolling the social media pages are all the areas where online businesses are using big data analytics. 

Just like the data is big 'Big Data Analytics' has such wide applications in our lives that it becomes a case of utmost importance. When Big Data is used so widely than the jobs in this field are relatively higher as compared to those in the other field which further makes it very important from an aspirant point of view. When there are always doubts about the bright and growing careers candidates find it hard to select a career which offers them a bunch of opportunities and at the same time emerging every day. With Big Data careers you will always find these two things in your pocket- A bunch of opportunities and obviously a bright and growing career.

Source: HOB