BIG DATA

A trail of digital footprint is formed with every little activity done on the internet and the data left behind are enough to fully understand behaviours and patterns of every user possible which eventually becomes a gold mine for businesses. That’s where big data comes in and how companies are monetising this untapped information to get better insights.

Source: clairvoyantsoft.com/

So, what is big data? It is a concept when data sets whose size or type is so complex that it is beyond the ability of traditional computing systems to capture, manage and process information (IBM, no date). In simpler terms, big data is a new way to observe, collect and manage a huge volume of data to analyse trends and predictions.

With the advancement of technology, organisations and enterprises are using various techniques such as predictive analytics, artificial intelligence, data mining to comprehend these massive data to connect with modern-day customers.

It has altered the fundamental functioning of many industries. In the legal sector, instead of using the traditional method of performing tasks over tasks, artificial intelligence is expected to make online courts ubiquitous (Forbes, no date).  Big data in healthcare can possibly monitor or predict pandemic and even have the potential to prevent diseases (Datapine, 2018).

"Big data will bring disruptive changes to organizations and vendors, and will reach far beyond networks of friends to the social network that encompasses the planet. It is not just this season’s trendy hemline; it is a must-have piece that will last for generations" (Needham 2013, p.2).

To conclude it, Cukier (2014) in a TED conference called ‘Big data is better idea’ explained that it is "an extremely important tool and more data allows us to see new, it allows us to see better and it allows us to see different" (TED, 2014).

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References:

Ibm.com (no date) 'Big Data Analytics'. Available at: https://www.ibm.com/analytics/hadoop/big-data-analytics. (Accessed: 25 January 2020)

Forbes (no date) 'The Future of Lawyers: Legal tech, AI, Big Data and Online Courts'. Available at: https://www.forbes.com/big-data/ (Accessed: 25 January 2020)

Datapine (2018) '12 Examples of Big Data Analytics In Healthcare That Can Save People'. Available at:  https://www.datapine.com/blog/big-data-examples-in-healthcare/ (Accessed: 26 January 2020)

Needham, J (2013). Disruptive Possibilities: How Big Data Changes Everything. 1st ed. CA: O'Reilly Media. 

TED (2014). 'Big Data is Better Data'. Available at: https://www.ted.com/talks/kenneth_cukier_big_data_is_better_data (Accessed: 26 January 2020)