Big Data: Everything you Need to Know

Big Data: Everything you Need to Know

The only thing every organization is concerned about is – Data. Data is what everyone is curious about. We as humans generate tons of data on an everyday basis in different forms and for different purposes. And after the introduction of the internet in our daily lives the amount of data being produced is increasing multiple times than the old generation.

Many sources claim the amount of data being generated is unlimited, according to the reports, the amount of data produced, captured, and consumed globally is calculated to be nearly 64 Zettabytes in 2020.

Before getting deep into the data sciences, let us start with the initial steps of understanding the fundamentals of Big Data.

Data: A Quick Overview

Data is any form of raw quantity, characters, and symbols that are used by computer systems to process any operation. Data can be in the form of electronic or digital signals which can be stored and transmitted to various sources. 

What is Big Data?

As the title shows Big Data is a mighty collection of data. Yes, by huge collection we mean a vast amount of volumes of data which are increasing exponentially with time. Big Data and Hadoop in Geneva is termed a vast cluster of data that is complex and cannot be managed efficiently by any system.

Some examples of Big data

  • A very small example of Big data is the New York Stock exchange which creates 1TB of trading data every day.
  • Social media sites i.e Facebook generates around 500TB on a daily basis.
  • The travel jets in the United States create about 10 Terabytes of data every half hour of any flight.

Beneficial Uses of Big Data

With so much data being produced every second the digital systems are flooded with several thousands of datasets being used by the industries. Due to so much data, a lot of information is produced by evaluating the data. There are many advantages that come with big data:

  1. Information extracted from big data is used for a better understanding of analytics for different organizations. Many businesses rely on insights from their previous investments to make new decisions.
  2. Another advantage of statistics produced from big data is the learning pattern of different industries. Most firms track the data being produced and used by different competitors to learn from it.
  3. Big Data is playing a keen role in modern technologies. Many new methods of AI and IoT (Internet of Things) rely on Big data to modify and automate the computer system for an intelligent working environment.
  4. Companies are using Big data to enhance their creativity and boost their outcomes by learning from their previous patterns. Big data is used for various tasks and processes to ensure the working of most organizations.
  5. By using a document verification service many companies verify documents by this service. 

Risks Involved with Big Data

With Big data there come big risks! Many of us have seen companies bragging over secure privacy policies to get the trust of customers. The reason for securing data is that tons of data are produced on a daily basis and attackers are attempting several new ways to compromise the systems for their own advantages.

Reports show that 3,813 breaches were filed through June of 2019, exploiting over 4100 million records which is 58% higher than the year 2018.

Many Industries are aware of the fact that data usage should be kept private to assure the security of the organizations.

Some of the major risks involved if the data breach occurs:

Data Leakage leads to Theft

Data is an integral part of most users, personal data leakage online can cause multiple issues of identity theft, spam information, and financial issues. Personal data such as pins and passwords can be used for money laundering and scamming problems online.

Ethical Concerns

Data leakage can cause ethical issues for many users, clients, or businesses. Sensitive data can be in the form of pictures, statistics of a client, medical reports, or any other personal data which is meant to be kept confidential. Attackers can use sensitive information to their advantage, like blackmailing and other fraudulent activities. 

Tackling Risks Associated with Big Data

To protect the community against all the associated risks involved in misusing the data, many organizations are complied with various regulations to ensure the security of the companies and their clients. These laws are created to verify the users and their use of data online. 

Many Online methods are implemented to assure data protection. Some of the checks include:

  • Identity Verification

  • KYC (Know Your Customer)

  • AML (Anti Money Laundering)

  • KYCC (Know Your Customer’s Customer)

Wrapping it Up

Data is being produced by every entity in the world, from humans to machines, everyone is generating tons of data on a daily basis. Big data is the term used to identify such complexities of raw data. Big data is the future as most digital organizations and businesses are moving toward machine learning patterns from the use of Big Data.

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About the Author: brad

Brad is lead editor and content writer at HubCrave, and has invested in online properties since 2021. Brad holds an MBA from the University of Dundee and an MSc from the University of Edinburgh.

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