Data- collection of raw facts and figures,numbers,unorganized facts does not carry

any meaning on its own.

Information-Processed data which is organized and has meaning.

Knowledge- A combination of expertise, insights, experience on information that

results in knowledge which will benefit the individual or the organization while
taking business decisions.

Digital data can be broadly classified into structured, semi-structured, and

unstructured data.

1. Unstructured data: This is the data which does not conform to a data model or is
not in a form which can be used easily by a computer program. About 80% data of
an organization is in this format; for example, memos, chat rooms, PowerPoint
presentations, images, videos,letters. researches, white papers, body of an email,
etc.

2. Semi-structured data: Semi-structured data is also referred to as self describing

structure. This is the data which does not conform to a data model but has some
structure. However, it is not in a form which can be used easily by a computer
program. About 10% data of an organization is in this format; for example, HTML,
XML, JSON, email data etc.

3. Structured data: When data follows a pre-defined schema/structure we say it is

structured data. This is the data which is in an organized form (e.g., in rows and
columns) and be easily used by a computer program. Relationships exist between
entities of data, such as classes and their objects. About 10% data of an
organization is in this format. Data stored in databases is an example of structured
data.

CHARACTERISTICS OF DATA

Data has three key characteristics:

1. Composition: The composition of data deals with the structure of data, that is, the
sources of data, the granularity, the types, and the nature of data as to whether it is
static or real-time streaming.
2. Condition: The condition of data deals with the state of data, that is,"Can one use
this data as is for analysis?" or "Does it require cleansing for further enhancement
and enrichment?"
3. Context: The context of data deals with "Where has this data been generated?"
"Why was this data generated?" How sensitive is this data?" "What are the events
associated with this data?" and so on.

Small data (data as it existed prior to the big data revolution) is about certainty. It is
about known data sources; it is about no major changes to the composition or
context of data.
What is Big Data?

Big Data refers to extremely large datasets that are complex and difficult to process
using traditional data processing applications.

According to Gartner, the definition of Big Data –

“Big data” is high-volume, velocity, and variety information assets that demand cost
effective, innovative forms of information processing for enhanced insight and
decision making.”
Big Data refers to complex and large data sets that have to be processed and
analyzed to uncover valuable information that can benefit businesses and
organizations.

 It refers to a massive amount of data that keeps on growing exponentially with

time.
 It is so voluminous that it cannot be processed or analyzed using conventional
data processing techniques.
 It includes data mining, data storage, data analysis, data sharing, and data
visualization.
The term is an all-comprehensive one including data, data frameworks, along with
the tools and techniques used to process and analyze the data.

Data is in Peta bytes i.e. 10^15 byte size is called Big Data.

It is stated that almost 90% of today's data has been generated in the past 3 years.

Big data is about complexity.

 This complexity is in terms of multiple and unknown datasets,

 in terms of exploding volume,
 in terms of speed at which the data is being generated and the speed at
which it needs to be processed and
 in terms of the variety of data (internal or external, behavioural or social)
that is being generated.

EVOLUTION OF BIG DATA

1970s and before was the era of mainframes.

The data was essentially primitive and structured. Relational databases evolved in
1980s and 1990s.
The era was of data intensive applications.
Data-intensive applications are those in which the amount of data that needs to be
managed grows exponentially with the number of users.
Data-intensive applications are applications that use large amounts of data to extract
insights and information.
 They are used in industries that require frequent interactions, high data volume, and
large numbers of users.
These applications are designed to process and analyze data in real-time or near
real-time.
Data intensive applications handle large quantities of data (multiple terabytes and
petabytes) that can be complex and distributed across various locations. Data
intensive applications process data in multistep analytical pipelines, including
transformation and fusion stages.
The World Wide Web (WWW) and the Internet of Things (IOT) have led to an
onslaught of structured, unstructured, and multimedia data.
Data-driven applications use data to guide decision-making, while data-
intensive applications are designed to handle large data sets. Data-driven
applications may also be called analytical applications.
Data-intensive applications can be crucial for organizations that want to extract
insights and make decisions from the large amounts of data they generate and
collect.
To handle data-intensive tasks efficiently, these applications may use distributed
computing, parallel processing, and optimized storage solutions. For example,
Lambda Architecture combines batch and stream processing to provide both real-
time and historical views of data

Refer Table 1.1.

Here are some examples of data-driven applications:

 E-commerce websites
 Social media platforms
 Online project management tools
 Amazon
 Uber
 Salesforce
 Netflix
 Splunk
 Awake Securit

Here are some examples of data-intensive applications:

Stock trading applications,
User behavior analysis,
Market simulations,
Digital marketing, and
Facebook.

Facts and Figures/Big Data Statistics

 Every second ,there are around 822 tweets on Twitter.

 Every minute, nearly 510 comments are posted 293000statuses are
updated and 136000 photos are uploaded on Facebook.
 Every hour Walmart handles more than 1 million customer transactions.
 Every day consumers make around 11.5 million payments by using
PayPal.

 3.4 Zetabytes of data exist in the digital universe today.

 Data is doubling every 2 years, 90% of world’s data volume is created in past 2
years.

 Data production will be 44 times greater in 2020 than it was in 2009.

 Facebook stores, accesses, and analyzes 30+ Petabytes of user generated

data.

 Walmart handles more than 1 million customer transactions every hour,

which is imported into databases estimated to contain more than 2.5
petabytes of data.

 More than 5 billion people are calling, texting, tweeting and browsing on mobile
phones worldwide.

 Decoding the human genome originally took 10 years to process; now it can be
achieved in one week.

 In 2008, Google was processing 20,000 terabytes of data (20 petabytes) a

day.

 The largest AT&T database boasts titles including the largest volume of data
in one unique database (312 terabytes) and the second largest number of
 rows in a unique database (1.9 trillion), which comprises AT&T’s extensive
calling records.

The Rapid Growth of Unstructured Data

• YouTube users upload 48 hours of new video every minute of the day.

• 571 new websites are created every minute of the day.

• Brands and organizations on Facebook receive 34,722 Likes every minute of

the day.

• 100 terabytes of data uploaded daily to Facebook.

• According to Twitter’s own research in early 2012, it sees roughly 175

million tweets every day, and has more than 465 million accounts.

• 30 Billion pieces of content shared on Facebook every month.

• In late 2011, IDC Digital Universe published a report indicating that some 1.8
zettabytes of data will be created that year.

In other words, the amount of data in the world today is equal to:

 Every person in the US tweeting three tweets per minute for 26,976 years.
 Every person in the world having more than 215m high-resolution MRI scans
a day.
• Big data is a top business priority and drives enormous opportunity for
business improvement.
• Wikibon’s own study projects that big data will be a $50 billion business by
2017.

• As recently as 2009 there were only a handful of big data projects and total
industry revenues were under $100 million. By the end of 2012 more than 90
percent of the Fortune 500 will likely have at least some big data initiatives
under way.

• Market research firm IDC has released a new forecast that shows the big
data market is expected to grow from $3.2 billion in 2010 to $16.9 billion in
2015.

• In the developed economies of Europe, government administrators could

save more than €100 billion ($149 billion) in operational efficiency
 improvements alone by using big data, not including using big data to reduce
fraud and errors and boost the collection of tax revenues.

• Poor data across businesses and the government costs the U.S. economy
$3.1 trillion dollars a year.

• 140,000 to 190,000. Too few people with deep analytical skills to fill the
demand of Big Data jobs in the U.S. by 2018.

• 14.9 percent of marketers polled in Crain’s BtoB Magazine are still wondering
“What is Big Data?”.

• 39 percent of marketers say that their data is collected “too infrequently or not
real-time enough.”

• 29 percent report that their marketing departments have “too little or no

customer/consumer data.” When data is collected by marketers, it is often not
appropriate to real-time decision making.

DEFINITION OF BIG DATA

• Big data is high-velocity and high-variety information assets that demand cost
effective, innovative forms of information processing for enhanced insight and
decision making.
• Big data refers to datasets whose size is typically beyond the storage capacity of
and also complex for traditional database software tools.
• Big data is anything beyond the human & technical infrastructure needed to support
storage, processing and analysis.
• It is data that is big in volume, velocity and variety

Introduction to Big Data

Big data is high-volume, high-velocity and high-variety information assets that

demand cost-effective, innovative forms of information processing for
enhanced insight and decision making is called Big Data.

Irrespective of the size of the enterprise whether it is big or small, data continues to
be a precious and irreplaceable asset. Data is present in homogeneous sources as
well as in heterogeneous sources.

The History of Big Data

Although the concept of big data itself is relatively new, the origins of large data sets
go back to the 1960s and '70s when the world of data was just getting started with
the first data centers and the development of the relational database.

Around 2005, people began to realize just how much data users generated through
Facebook,YouTube, and other online services.
Hadoop (an open-source framework created specifically to store and analyze big
data sets) was developed that same year. NoSQL also began to gain popularity
during this time.

Data generates information and from information we can draw valuable insight.

Three V’S of Big Data (or) Characteristics of Big Data:

Big data can be described by the following characteristics:
Volume
Variety
Velocity

(i) Volume – The name Big Data itself is related to a size which is enormous.
Size of data plays a very crucial role in determining value out of data. Also,
whether a particular data can actually be considered as a Big Data or not, is
dependent upon the volume of data. Hence, ‘Volume’ is one characteristic
which needs to be considered while dealing with Big Data solutions.

 Byte:
 Kilobyte: that is 103
 megabyte which is 106
 gigabyte 109
 terabyte that is 1012 ,and it represents the amount of information which flows
on the internet ,
 petabytes which is 1015
 Exabyte which is 1018
 zettabyte which is 1021 and this basically will fill the Pacific Ocean and that
amount of data, is a future volume of the big data, similarly keep on extending
zettabyte becomes,
  Yottabyte that is 1024 which becomes ,an earth-sized a rice bowl.
 brontobyte that is 1027 that becomes an astronomical size of that particular
data.

(ii) Variety – The next aspect of Big Data is its variety.

Variety refers to heterogeneous sources and the nature of data, both structured and
unstructured. During earlier days, spreadsheets and databases were the only
sources of data considered by most of the applications. Nowadays, data in the form
of emails, photos, videos, monitoring devices, PDFs, audio, etc. are also being
considered in the analysis applications.
This variety of unstructured data poses certain issues for storage, mining and
analyzing data.
(iii) Velocity – The term ‘velocity’ refers to the speed of generation of data. How
fast the data is generated and processed to meet the demands, determines real
potential in the data.
Big Data Velocity deals with the speed at which data flows in from sources like
business processes, application logs, networks, and social media sites, sensors,
Mobile devices, etc.
The flow of data is massive and continuous.
The 4 V’s of Big Data in infographics
IBM data scientists break it into four dimensions: volume, variety, velocity and
veracity.

This infographic explains and gives examples of each.

Find the original infographic here.

The 4 V’s of Big Data

It can be said that the Big Data environment has to have these four basic
characteristics:

Volume

You may have heard on more than one occasion that Big Data is nothing more
than business intelligence, but in a very large format. More data, however, is not a
synonym of it.

Obviously, the Big Data, needs a certain amount of data, but having a huge
amount of data, does not necessarily mean that you are working on this field
of data.
It would also be a mistake to think that all areas of Big Data are business
intelligence since is not limited or defined by the objectives sought with that
initiative. But it will be by the characteristics of the data itself.

Variety

Today, we can base our decisions on the prescriptive data obtained through this
method. Thanks to this technology, every action of customers, competitors,
suppliers, etc, will generate prescriptive information that will range from structured
and easily managed data to unstructured information that is difficult to use for
decision making.

Each piece of data, or core information, will require specific treatment. In addition,
each type of data will require specific storage needs (the storage of an e-mail will be
much less than that of a video).

Velocity

It is very possible that Variety and Veracity would not be so relevant and would not
be under so much pressure when facing a Big Data initiative if it were not for
the high volume of information that has to be handled and, above all, for the
velocity at which the information has to be generated and managed.

The data will be an input for the technology area (it will be essential to be able to
store and digest large amounts of information). And the output part will be the
decisions and reactions that will later involve the corresponding departments.

Veracity

This V will refer to both data quality and availability. When it comes to traditional
business analytics, the source of the data is going to be much smaller in both
quantity and variety.

However, the organization will have more control over them, and their veracity
will be greater.

When we talk about the Big D, variety is going to mean greater uncertainty about
the quality of that data and its availability. It will also have implications in terms of the
data sources we may have.
Characteristics of Big Data (3 Vs of Big Data)
3Vs of Big Data = Volume, Velocity and Variety.
1. Volume:
Volume refers to the sheer size of the ever-exploding data of the computing world. It
raises the question about the quantity of data collected from different sources over
the Internet
2. Velocity:
Velocity refers to the processing speed. It raises the question of at what speed the
data is processed. The speed is measured by the use of the data in a specific time
period.In Big Data velocity data flows in from sources like machines, networks, social
media, mobile phones etc.There is a massive and continuous flow of data. This
determines the potential of data that how fast the data is generated and processed to
meet the demands.
3. Variety:
Variety: Variety refers to the types of data. In Big Data the raw data always collected
in variety. The raw data can be structured, unstructured, and semi structured. This is
because the data is collected from various sources.It also refers to heterogeneous
sources.
Fig. 1.3 Four Vs of Big Data
4Vs of Big Data = Volume, Velocity, Variety, Veracity
4. Veracity:
Veracity is all about the trust score of the data. If the data is collected from trusted or
reliable sources then the data neglect this rule of big data.It refers to inconsistencies
and uncertainty in data, that is data which is available can sometimes get messy and
quality and accuracy are difficult to control.Big Data is also variable because of the
multitude of data dimensions resulting from multiple disparate data types and
sources.Example: Data in bulk could create confusion whereas less amount of data
could convey half or Incomplete Information.
5Vs of Big Data = Volume, Velocity, Variety, Veracity,
5. Value:
Value refers to purpose, scenario or business outcome that the analytical solution
has to address. Does the data have value, if not is it worth being stored or
collected?The analysis needs to be performed to meet the ethical considerations.
6Vs of Big Data = Volume, Velocity, Variety, Veracity, Variability
6. Variability
This refers to establishing if the contextualizing structure of the data stream is
regular and dependable even in conditions of extreme unpredictability.It defines the
need to get meaningful data considering all possible circumstances.
7Vs of Big Data =Volume, Velocity, Variety, Veracity, Variability, Visualization
7. Visualization:
Visualization is critical in today’s world. Using charts and graphs to visualize large
amounts of complex data is much more effective in conveying meaning than
spreadsheets and reports chock-full of numbers and formulas.

Why is Big Data Important?

The importance of big data does not revolve around how much data a company has
but how a company utilizes the collected data. Every company uses data in its own
way; the more efficiently a company uses its data, the more potential it has to grow.
The company can take data from any source and analyse it to find answers which
will enable:
1. Cost Savings: Some tools of Big Data like Hadoop and Cloud-Based Analytics
can bring cost advantages to business when large amounts of data are to be stored
and these tools also help in identifying more efficient ways of doing business.
2. Time Reductions:
The high speed of tools like Hadoop and in-memory analytics can easily identify new
sources of data which helps businesses analyzing data immediately and make quick
decisions based on the learning.
3. Understand the market conditions:
By analyzing big data you can get a better understanding of current market
conditions.For example, by analyzing customers’ purchasing behaviors, a company
can find out the products that are sold the most and produce products according to
this trend. By this, it can get ahead of its competitors.
4. Control online reputation:
Big data tools can do sentiment analysis. Therefore, you can get feedback about
who is saying what about your company. If you want to monitor and improve the
online presence of your business, then, big data tools can help in all this.
5.Enhanced Decision-Making: Organizations use Big Data analytics to gain
insights and make data-driven decisions.
6.Improved Operational Efficiency: Analyzing large datasets helps in optimizing
operations, reducing costs, and improving efficiency.
7. Competitive Advantage: Businesses leverage Big Data to innovate, create new
products, and offer personalized services.
8. Predictive Analysis: Big Data analytics can forecast trends and behaviors, which
is beneficial for planning and strategizing.
9. Using Big Data Analytics to Boost Customer Acquisition and Retention
The customer is the most important asset any business depends on. There is no
single business that can claim success without first having to establish a solid
customer base. However, even with a customer base, a business cannot afford to
disregard the high competition it faces. If a business is slow to learn what customers
are looking for, then it is very easy to begin offering poor quality products. In the end,
loss of clientele will result, and this creates an adverse overall effect on business
success. The use of big data allows businesses to observe various customer related
patterns and trends.Observing customer behaviour is important to trigger loyalty.
10. Using Big Data Analytics to Solve Advertisers Problem and Offer Marketing
Insights
Big data analytics can help change all business operations. This includes the ability
to match customer expectation, changing company’s product line and of course
ensuring that the marketing campaigns are powerful.

Size hierarchy

GB Gigabyte

TB Terabyte (1024 GB)

PB Petabyte (1024 TB)

EB Exabyte (1024 PB)

ZB Zetabyte (1024 EB)

YB Yotabyte (1024 ZB)

Introduction to Big data Analytics:

Big data analytics is the process of collecting, examining, and analyzing large
amounts of data to discover market trends, insights, and patterns that can help
companies make better business decisions.
This information is available quickly and efficiently so that companies can be agile in
crafting plans to maintain their competitive advantage.

Classification of analytics/Types of big data analytics

There are four main types of big data analytics—descriptive, diagnostic, predictive,
and prescriptive. Each serves a different purpose and offers varying levels of insight.
Collectively, they enable businesses to comprehensively understand their big data
and make decisions to drive improved performance.

Descriptive analytics
This type focuses on summarizing historical data to tell youwhat’s happened in the
past. It uses aggregation, data mining, and visualization techniques to understand
trends, patterns, and key performance indicators (KPIs).

Descriptive analytics helps you understand your current situation and make informed
decisions based on historical information.

Diagnostic analytics
Diagnostic analytics goes beyond describing past events and aims to understand
why they occurred. It separates data to identify the root causes of specific outcomes
or issues.

By analyzing relationships and correlations within the data, diagnostic analytics helps
you gain insights into factors influencing your results.

Predictive analytics
This type of analytics uses historical data and statistical algorithms to predict future
events. It spots patterns and trends and forecasts what might happen next.

You can use predictive analytics to anticipate customer behavior, product demand,
market trends, and more to plan and make strategic decisions proactively.

Prescriptive analytics
Prescriptive analytics builds on predictive analytics by recommending actions to
optimize future outcomes. It considers various possible actions and their potential
impact on the predicted event or outcome.

Prescriptive analytics help you make data-driven decisions by suggesting the best
course of action based on your desired goals and any constraints.

The importance of big data analytics

Big data analytics has the potential to transform the way you operate, make
decisions, and innovate. It’s an ideal solution if you’re dealing with massive datasets
and are having difficulty choosing a suitable analytical approach.

By tapping into the finer details of your information, using techniques and specific
tools, you can use your data as a strategic asset.

Big data analytics enables you to benefit from:

Informed decision-making: You can make informed decisions based on actual

data, which reduces uncertainty and improves outcomes.
Business insights: Analyzing large datasets uncovers hidden patterns and trends,
providing a deeper understanding of customer behavior and market dynamics.
Customer understanding: Get insight into customer preferences and needs so you
can personalize experiences and create more impactful marketing strategies.
Operational efficiency: By analyzing operational data, you can optimize processes,
identify bottlenecks, and streamline operations to reduce costs and improve
productivity.
Innovation: Big data analytics can help you uncover new opportunities and niches
within industries. You can identify unmet needs and emerging trends to develop
more innovative products and services to stay ahead of the competition.

1.4.2 Benefits of big data analytics

There are quite a few advantages to incorporating big data analytics into a business
or
organization. These include:
Cost reduction: Big data can reduce costs in storing all the business data in one
place. Tracking analytics also helps companies find ways to work more efficiently to
cut costs wherever possible.
Product development: Developing and marketing new products, services, or
brands
is much easier when based on data collected from customers’ needs and wants. Big
data analytics also helps businesses understand product viability and keep up with
trends.
Strategic business decisions: The ability to constantly analyze data helps
businesses
make better and faster decisions, such as cost and supply chain optimization.
 Customer experience: Data-driven algorithms help marketing efforts (targeted
ads,
as an example) and increase customer satisfaction by delivering an enhanced
customer experience.
Risk management: Businesses can identify risks by analyzing data patterns and
developing solutions for managing those risks.

CHALLENGES WITH BIG DATA

Refer figure 1.5. Following are a few challenges with big data:

Figure 1.5 Challenges with big data (Big Data and Analytics)

Data volume: Data today is growing at an exponential rate. This high tide of data will
continue to rise continuously. The key questions are – “will all this data be useful for
analysis?”,
“Do we work with all this data or subset of it?”“How will we separate the knowledge
from the noise?” etc.
Storage: Cloud computing is the answer to managing infrastructure for big data as
far as cost-efficiency, elasticity and easy upgrading / downgrading is concerned. This
further complicates the decision to host big data solutions outside the enterprise.
Data retention: How long should one retain this data? Some data may require for
log-term decision, but some data may quickly become irrelevant and obsolete.
Skilled professionals: In order to develop, manage and run those applications that
generate insights, organizations need professionals who possess a high-level
proficiency in data sciences.
Other challenges: Other challenges of big data are with respect to capture, storage,
search, analysis, transfer and security of big data.
Visualization: Big data refers to datasets whose size is typically beyond the storage
capacity of traditional database software tools. There is no explicit definition of how
big the data set should be for it to be considered bigdata. Data
visualization(computer graphics) is becoming popular as a separate discipline. There
are very few data visualization experts.
Drivers of Big Data:

Big data is driven by several key factors that enable its growth, adoption, and utility
across various industries. Here are some of the primary drivers for big data:

1. Increased Data Volume: The sheer amount of data being generated every
day from various sources like social media, IoT devices, transactions, and
digital interactions is growing exponentially. This creates a need for systems
and technologies that can handle and process large volumes of data.
2. Advanced Analytics and Machine Learning: The development of
sophisticated analytics tools and machine learning algorithms has enabled
organizations to extract valuable insights from vast datasets. These
technologies help in making informed decisions, predicting trends, and
optimizing operations.
3. Cost-Effective Storage Solutions: The cost of data storage has significantly
decreased over the years, making it economically feasible to store large
amounts of data. Cloud storage solutions and distributed file systems like
Hadoop have played a crucial role in this.
4. Improved Processing Power: Advances in computing power, including the
development of parallel processing and distributed computing, have made it
possible to process and analyze big data more efficiently and quickly.
5. Data-Driven Decision Making: Organizations are increasingly relying on
data-driven decision-making processes to gain a competitive edge. Big data
analytics provides insights that help in strategic planning, marketing, customer
service, and operational efficiency.
6. Internet of Things (IoT): The proliferation of IoT devices has led to the
generation of massive amounts of data from sensors, machines, and other
 connected devices. This data is crucial for real-time analytics, monitoring, and
automation.
7. Consumer Demand for Personalization: There is a growing demand for
personalized products and services. Big data allows companies to analyze
consumer behavior, preferences, and feedback to tailor their offerings to
individual needs.
8. Regulatory and Compliance Requirements: Regulations and compliance
requirements in various industries necessitate the collection, storage, and
analysis of large amounts of data. Big data helps organizations meet these
requirements more efficiently.
9. Social Media and Digital Marketing: The rise of social media platforms and
digital marketing strategies generates vast amounts of data on consumer
interactions, preferences, and trends. Analyzing this data helps in targeted
marketing and improving customer engagement.
10. Technological Innovations: Continuous innovations in big data
technologies, such as real-time data processing, advanced data visualization
tools, and enhanced data integration techniques, drive the adoption and
evolution of big data solutions.

These drivers collectively contribute to the growing importance and utilization of big
data across various sectors, leading to more informed decision-making and strategic
advantages.

Drivers for Big Data

Big Data has quickly risen to become one of the most desired topics in the
industry.
The main business drivers for such rising demand for Big Data Analytics are:
1. The digitization of society
2. The drop in technology costs
3. Connectivity through cloud computing
4. Increased knowledge about data science
5. Social media applications
6. The rise of Internet-of-Things (IoT)

As shown in Figure 1.10, in the 1990s the volume of information

was often measured in terabytes. Most organizations analyzed structured
data in rows and columns and used relational databases and data
warehouses to manage large amount of enterprise information.

Big Data Analytics applications:

Following are some of the popular applications of data analysis:
a. Fraud Detection & Risk Analytics
In banking, data analytics heavily utilized for analyzing anomalous transaction and
customer
details. Banks also use data analytics to analyze loan defaulters and credit scores
for their
customers in order to minimize losses and prevent frauds.
b. Optimizing Transport Routes
Companies like Uber and Ola are heavily dependent on data analytics to optimize
routes and
fare for their customers. They use an analytical platform that analyzes the best route
and
calculates percentage rise and drop in taxi fares based on several parameters.
c. Providing Better Healthcare
With the help of data analytics, hospitals and healthcare centres are able to predict
early onset
of chronic diseases. They are able to predict diseases that might occur in the future
and help
the patients to take early action that would help them to reduce medical expenditure.
d. Managing Energy Expenditure
Public-sector energy companies are using data analytics to monitor the usage of
energy by
households and industries. Based on the usage patterns, they are optimizing energy
supply in
order to reduce costs and cut down on energy consumption.
e. Improving Search Results
Companies like Google are using data analytics to provide search results to users
based on
their preferences and search history. Furthermore, companies like Airbnb use search
analytics
to provide the best accommodation to its customers. Companies like Amazon are
making use
of the search analytics to provide personalized recommendations to its users.
f. Optimization of Logistics
Various companies are relying on Big Data Analytics to analyze supply chains and
reduce
latency in logistics. Amazon is making use of consumer analytics to analyze the
customer
requirements and direct them the products without creating any form of delay.
Figure 1.10: Data Evolution and the Rise of Big Data Sources