The chance of becoming a global economy in big data studies
21st Century is the age of technology and computer. There is no such thing where computers are not used anymore. Every day the computer is being used and the amount of information that can be used as a result of this cannot be counted. As long as the amount of data is going up. As technology improves, life becomes easier, as well as technology is becoming easier. As a result, so many data is being created that analyzing using only that data and information makes many things clear and new data is found out.
By analyzing data, institutions can sustain their products in the market; Source: Accenture.com
As a result of the information-technology improvement, an industrial establishment is analyzing, analyzing the fact that different organizations can sustain their products in the market and compete with other organizations. In the last two years, 90 percent of the world's data has been created on computers. Every day, 2.5 quintillion bytes (twenty-five hundred billion) of data are created. So much data or data is called Big Data. With the improvement of technology, now the giant equally stored data can be stored and in these data, which are structured and unstructured, processed through specific mathematical processes, and it is possible to uncover new information.
In the last two years, 90 percent of the world's data was created on the computer; Source: HBS Working Knowledge - Harvard Business School
There is a word in Big Data 3 V's. These three 'V' are - the amount of data, the diversity of the data and the time when collecting and saving data (Velocity). The amount of data on the big data will be abundant. Specifically, it can be a few gigabytes or petabytes. They may be several hundred times more. There will be diversity in this data. That means only the same information will not only provide big data. In addition to providing various information in the numbers, it will contain information like photos, videos etc.
It will take time to get information from the Big Data. For example, the matter will be more clear. For example, detectors are located in the streets of modern cities. The speed of the detector is going on, how many vehicles have been traveling at different times of the road, how many vehicles are coming in a single length of the road, how much of the big car in the street, and so on. Signals of this information are sent using special frequency and the signal changes in the number and gives a result. The whole thing is but in a few seconds. This means that the time is very short, which takes a lot of time to do the normal process.
If we collect data such as a freeware for 6 months, then the amount of data is about 20 gigabytes. Such data is Big Data. We are getting real data in a very short period of time and we are getting close information about an incident happening. Many days old data is not being collected but. Such data is called real-time data. The meaning of Velocity in Big Data is the same.
Big data is now impossible; Source: CRM Score
Using the three 'V' of Big Data, business houses now decide on their business. Whether it is in the economy or in technology, whether it is in a market research or healthcare, everyone enjoys its benefits in the hand. It is a situation now that if Big Data is not used, then it is almost impossible to survive in the competition. It has been observed that, if decisions are made using Big Data, then the possibility of loss of business can be avoided at around 89 percent.
Creating different algorithms using math and statistics to reveal information; Source: BMC blogs-BioMed Central
When the Big Data began to be used, it was found that there were more patterns found in these data. They help to determine the different economic policies. Then, researchers lean towards creating complex mathematical models for analyzing large data in huge data. Various organizations were able to accurately disclose the information from huge data so that algorithms were used using mathematics and statistics, which are known as Algorithmic Trading. Companies working on the economy have started using Big Data as a part of their work in this way. Due to the use of big data, the world economy is changing a lot now. Especially in the case of early financial crisis, there has been a radical improvement.
Big DTi is now future; Source: blog.unbelievable machine.com
Before the promotion of their products, they had to adopt different ways to make the products company. But now because of social media, it is very easy to bring attention to their current products and the effect of bringing this attention to sales is also affected. But the problem is finding out the customers who are familiar with this product and can easily recognize it by identifying the products. Big data helps in doing this kind of work.
What types of products are searched more in social media, who are more searched for this product, the rate of the search of this product is high, what kind of things the customer wants in the comments boxes, these data are easily bought or ejected. After that, they have to make a decision by analyzing the data. Creating a product of a feature will give it more acceptance to customers, the products of the age of the customers will have to leave the market, and when the product is promoted, a demand for the products within the customer can be made - there is no substitute for big data for research and decision making. Because of this, there will be no loss without the profit of any business, because Big Data is a very efficient process.
Important information is also taken out of this big data by random information. Currently, data mining, machine learning, text mining etc. are impossible to determine in economic policy. This is because of the new technology and the creation of a much stronger computer. If working with text mining, then what can be done to find out what kind of feelings the customer is expressing on a product. It is also possible to find out the importance of his comments. For these reasons, big data is being used in different organizations.
The supercomputer is also used for big data analysis; Source: AdAge.com
Big data is being used in many other things. Such as the impact of pension schemes and other services on insurance companies; Now, what kind of investment will the customer later make more insurance; Decisions are made by implementing big data, etc. What will the company's own gain in the future? These tasks are done especially with data from previous policies. Moreover, the organizations that invest only and those who only work on asset management, decide on the data from the previous data and decide on any matter.
Large online service providers manage their operations only with these big data. Amazon, Facebook, Alibaba, Tencent are all dependent on Big Data. Even our country's media organizations can publish news according to the preferences of people associated with them using big data. In addition to financial benefits, the acceptability of customers will also be increased several times. In addition, a different level can be added to the competition with other organizations and the media can be made an independent place.
Feature Image Source: internet-idee.net