4.3 Big Data

Big data contains greater variety, arriving in increasing volumes and with more velocity. This is also known as the three Vs. Big data is larger, more complex datasets, especially from new data sources. These data sets are so voluminous that traditional data processing software can't manage them.

The Three Vs of Big Data

Volume

It refers to the amount of data. Big data deals with huge volumes of data, mostly unstructured data.

Example

A single Jet engine can generate 10+ terabytes of data in 30 minutes of flight time.

4.3.1 The History of Big Data

The term big data emerged in the early 2000s as a term to describe exponential growth of data.

Key Milestone

In 2005, Hadoop was open-sourced, providing a framework to store and analyze big datasets.

4.3.2 Advantages and Benefits of Big Data

  • Product development
  • Predictive maintenance
  • Customer experience/satisfaction
  • Fraud and compliance

Real-world Application

Netflix uses big data analytics to recommend shows to its users, improving customer satisfaction and retention.

4.3.3 Big Data Challenges

  • Data Quality
  • Data Security and privacy
  • Rapid growth of data
  • Big data tool selection
  • Data Integration

Challenge Example

Ensuring GDPR compliance while handling large volumes of personal data from diverse sources.

4.3.4 Applications of Big Data in Business

Healthcare

Predicting epidemic outbreaks, real-time alerting, and personalized treatments.

Example

Using wearable device data to predict and prevent heart attacks.

Media and Entertainment

Targeting audiences and predicting content preferences.

Example

Spotify's personalized playlists based on listening habits.

IoT

Enhancing capabilities of IoT devices through data analytics.

Example

Smart homes optimizing energy usage based on occupant behavior.

Manufacturing

Predictive maintenance, supply chain optimization, and quality control.

Example

Predicting machine failures before they occur, reducing downtime.

Government

Improving public services, combating fraud, and enhancing national security.

Example

Using big data for predictive policing to prevent crime.

Other Big Data Applications

  • Agriculture
  • Aviation
  • Cyber security
  • Crime prevention
  • E-commerce
  • Fake news detection
  • Fraud detection
  • Pharmaceutical research
  • Scientific research
  • Weather forecasting
  • Tax compliance