It’s a buzzword, it’s a privacy issue, it’s an industry, and it’s totally incomprehensible. It is also something that many Internet users do not realize is everywhere. Any sort of function done with big data requires an immense amount computing power. With regards to processing, it is even more necessary to have a powerful processor which can process this big data in a time period that doesn’t last years.
Regardless of processing power many businesses compile big data, and then just leave it due to their inability to fully read it. Well, there are a couple of options for you and your business to utilize this source of info.
1) Avoid Exabytes
An exabyte you say? How much is that? It’s one billion gigabytes. That’s more storage than all the iPods ever created combined. Relax, your business probably can’t compile that much data. Astronomy and Physics departments in major universities can though, because when documenting the universe that kind of data is effectively infinite.
Compiling all available data may be a waste of time.
2) Identify Data with Utility
So many internet users are aware any information input into a website is saved by that website. Sometimes this data is compiled into packages and is sold to various companies to help with leads and demographic tendencies.
Do the same. If you’re a financial firm you ought to delineate and distinguish all categorization. Imagine if you will a massive room filled with file cabinets. In each cabinet there is a bit of gold that can be used to help target your customer base. It would be wise for these cabinets to have order, there is a reason files are just everywhere.
3) Tout your Privacy
Look, in a world full of no privacy providing the conditions for the possibility of safe storage is crucial. Your clients need to know that even if there are petabytes of data in your storage lockers, these lockers are locked to maximum lock-ability.
It is also a selling point. Being able to safely manage big data, even if you don’t know all of its content, is something clients find incredibly comforting,
4) Example of Big Data Usage:
Google is kind of utilizing big data. It takes a collection of user interests, searches, and demographics and pops out personalized suggestions and content to particular users. If you have ever seen a ‘you may also like,’ phrase on YouTube, that is an example.
Selling this information is also a goldmine. The sales though are troubling to users though, who often agree to terms and conditions which render their privacy to searching away. So, make sure to walk the tightrope of monetizing big data and keeping users private.
About Codal :
Codal is an established global consulting firm focusing on business intelligence, design, development and compliance testing. It is chicago based web & mobile app development agency. We combine business domain knowledge with technology competence and proven methodologies to deliver high-quality, cost-effective results to maximize clients’ competitive advantage and productivity.