What is Big Data?

What is big data? It is an umbrella term that refers to a variety of technological applications that have the same general idea: How can we collect and analyze large sets of data sets quickly and efficiently in order to provide quality services or products to users? Big data visualization has emerged as one such application. It enables decision makers in different fields to create new ways of designing online and real-time dashboards and widgets that would otherwise be impossible or very expensive to design and operate. The main idea is to make data more presentable to decision makers, especially to finance and business analysts who must analyze large sets of data without wasting time on tedious tasks. In addition, it helps them improve their knowledge and solve problems more efficiently.

What is big data for Netflix? Netflix has an enormous cloud network consisting of millions of servers spread around the world. The purpose of this huge pool of computers is to enable Netflix to make use of its computing power to crunch huge amounts of information and form insights into how consumers interact with its applications. These insights can help Netflix develop new features, shorten the learning curve for new users, and increase its profitability. By applying deep artificial intelligence to this pool of computers, Netflix can build insights even from the most minute parts of its user base.

What is big data for Netflix? Financial analysts at Netflix have a need to understand the behavior of their customers in order to build robust and cost effective customer relations. By collecting, organizing, and analyzing massive amounts of unstructured data sets, these analysts can make better determinations about what actions their customers to take and what they buy. Deep artificial intelligence will enable Netflix to build up insights even from the most minute parts of its user base. This will enable these financiers to provide better services, lower costs, and boost profits.

What is big data for social media companies? Social media companies need to collect and analyze big data in order to help create personalized services and products that engage users on a deeper level. By learning more about the behaviors of their users, these social media companies can improve their services by addressing their biggest issues and by developing new features that engage their users even more. By employing the tools of natural and unstructured analytics, social media companies can create personalized apps that address users’ needs and help them get more out of their social network. By aggregating user data to create relevant and unstructured data sets, these companies can give users more personalized experiences.

What is big data for financial services companies? Financial services are one of the largest users of internet bandwidth and electricity in the entire world. To achieve unparalleled operational efficiencies, financial services companies need to study user behavior in order to provide better customer support and innovative pricing options. By studying user behavior, these companies can discover the habits that cause customers to return to a company repeatedly and which ones are less likely to result in customer attrition. By tailoring its offerings to its customers, financial services firms can ensure that it delivers innovative solutions tailored to its customers’ needs.

What is big data for physicians? Big data is not only used by hospitals to determine the best possible treatment for patients. Nowadays, medical professionals are using big data sets to study complex problems like the root cause of diseases and the factors that contribute to the rise in heart attack cases. By gathering and studying large unstructured data sets, these doctors can pinpoint the factors that lead to the rise in cases of certain diseases and develop preventive measures that can effectively lower the risk of disease for their patients.

What is big data for retailers? Big data is used by retailers to find profitable niches and target specific communities. By understanding the differences between buyers and sellers, retailers can understand what drives certain purchases and develop strategies that will make their businesses more profitable. Some of the most commonly used analytical tools used by retailers are social media, consumer insight, and product insights.

What is big data for utilities companies? Power companies such as Duke Energy have long been gathering unstructured customer data to improve their service and manage costs. By using customer data analysis and insights, they can develop better ways to monitor their transmission and distribution. With these insights, they can also identify opportunities such as increasing frequencies or intensities of delivery to minimize the environmental impact on the environment and reduce potential customer dissatisfaction over changes in service.