Big Data Advantages

1474 Words6 Pages
Today, it's impossible to browse a technology news site or attend a business conference without people talking about Big Data as the next disruptive technology in the business world. In this document, we will learn about Big Data, its applications, advantages and negative implications and if Big Data is actually disruptive.
Every day, the world generates enormous amounts of data and the quantity of data it generates is growing exponentially. The exponential growth and availability of data, both unstructured and structured data is called Big Data. Big data is generated from an increasing plurality of sources, including Internet clicks, mobile transactions, user-generated content, and social media as well as purposefully generated content through
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A central big data platform will help organization focus on what it needs. For examples some companies are focused on strengthening their customer relationships; others are focused on managing business and systemic risk, while some focused on improving operational efficiency. i.e. A centralized big data platform will be able to offer solutions to units, which have different needs, in an organization. integrating a variety of sources of data, including unstructured data, such as legal documentation, trusts, stock filings, corporate actions. Traditionally, they haven't been able to marry that type of information with structured data, and that's one of the big areas where organizations perceive that big data can help them. We believe that big data enables big questions. e.g. Take corporate actions. These are important to every financial services firm and apply to activities like mergers and acquisitions, financial reporting and any type of activity that's produced in terms of an announcement. Markets tend to react to the information that's in these corporate actions. So organizations are trying to correlate corporate actions to actions that take place in the market. In order to do that, they need to take this narrative content and transform it in a way that they can analyze. If they can do that effectively, they will be able to discern patterns that will help them make quantitative decisions based on, essentially, qualitative information. data can create significant value for the world economy, enhancing the productivity and competitiveness of companies and the public sector, and creating substantial economic surplus for consumers. Improve quality of patient diagnostics, enable retailers to provide unique customer experience, helps banks detect fraudulency before things go out of hand, reduce warranty
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