Big Data is a concept that is being talked about more and more. And no wonder, since its potential can be very valuable if it is treated in the right way. To understand the magnitude of this potential, here are some figures:

  • More data has been created in the last 2 years than in the entire history of mankind.
  • Big Data is growing at a speed never seen before. It is estimated that by 2020 each individual will create 1.7 megabytes of new information per second.
  • By 2020, our data universe will grow from 4.4 zettabytes today to 44 zettabytes (44 trillion gigabytes).
  • We create new data every second. We perform 40,000 new Google searches per second, which equates to 3.5 million searches per day and 1.2 trillion per year.

But what is Big Data for? 5 basic applications of Big Data:

  • Data and information analysis. What specialists call the three “V’s” (velocity, volume and variety). They are a reflection of what organisations (whatever the field in which they operate) can do to improve their processes, make better decisions and evaluate, even before they are implemented, the impact of these decisions.
  • Formulate predictions about future behaviour. The analysis facilitated by Big Data allows us to understand the behaviour of individuals and human groups. It also makes it possible to formulate predictions about future behaviour.
  • Evaluate the impact of actions/decisions in real time. Big Data provides real-time visibility of operations, people’s behaviour and transactions carried out. This facilitates the availability of information for analysis, the establishment of corrective measures, etc.
  • Having more information to make more and better decisions. Big Data itself generates new content and information which, when incorporated into the system, allows new data to be obtained, more information to be available and more accurate decision-making to be made.
  • Improve security in the processing of computer media. Big Data makes it possible to establish mechanisms to locate anomalies and prevent attacks. Good management of the data obtained in the analysis will allow us to analyse hidden actions or relationships, detect patterns of behaviour and prevent security threats. This aspect is relevant in all fields, but even more so in the field of people management.

Which sectors are using Big Data the most?

  • Finance: To have up-to-date, real-time information on the state of the national and international markets, on the primary and secondary conditions that may uncover a good business opportunity or on the details of the risks to be assumed in each operation to be considered.
  • Insurance: The target public of insurers is as wide and varied as the risks they assume with their business activity. These risks are drastically minimised through the correct use of Big Data tools: access to relevant data allows cross-cutting and multivariate reports to be produced that provide information on health, claims and delinquency, among others.
  • Science: From applications for natural and cosmos sciences, such as astronomy, botany and geology, to functionalities that allow detailed analysis of cases and offer more personalised treatments in the field of health sciences, to the various economic and social sciences that benefit most from taking advantage of the benefits provided by these data analysis tools —statistics, economics or sociology, among others.
  • Sports: Analysis of the competition, design of the most suitable training and competition strategy, and a long etcetera, make Big Data analysis particularly suitable for the sports sector, both professional and amateur.
  • Culture: Knowledge of the tastes, trends and appetites of the public potentially willing to consume your productions is a determining factor in designing a good strategy.

 

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