What is an example of Big Data
Big Data is a term that continues to grow in popularity, and more and more people want to know all about it. This technology is the reason why platforms like Netflix or Spotify can determine what we like to consume the most. It's also responsible for the large number of accurate ads we come across on social networks. Impressive, isn't it? Let's get to know what is an example of Big Data and its benefits:
Big Data in business insights
One of the areas where Big Data is most commonly applied is the generation of business information. Around 60% of the total data collected by companies and social networks are not structured or analyzed by them. However, it's highly beneficial for them to have them. Because if they applied it strategically, they can generate more profits by satisfying customers and enabling product development.
Therefore, an increasing number of companies are deciding to incorporate new technologies to manage and analyze these large amounts of data in a much more effective way. A clear example of Big Data and its use in business is Netflix, this company uses it to understand user behavior. Through this, it manages to determine the type of content people like the most popular movies, what suggestions to make, among other things.
Big Data in digital marketing
Traditionally, marketing consists of conducting surveys and personal interactions with customers. Previously companies constantly seek to reach customers through television, radio, or newspaper advertisements, even walking billboards on the street. Back then there was no idea of the impact of these ads on the public.
With the advancement of Big Data technology and the digitization of almost every business, marketing has also become digitized. Today, through Big Data, companies can collect large amounts of data and know the opinions of millions of customers in just seconds. This data analysis considerably helps marketers to execute campaigns and increase customer traffic through relevant ads.
Amazon is a clear example of Big Data in the area of digital marketing, as it collected data on purchases made by millions of people around the world. Then, they analyzed the buying patterns and payment methods most used by customers. And thanks to these results they were able to design new offers and more accurate ads for the customers.
Big Data in media and entertainment
It's no secret that the constant access and use of digital devices involves a massive generation of data. And this is precisely the reason why the use of Big Data in the media and entertainment industry keeps increasing.
Social media platforms are the perfect example of how this data is generated and how companies use Big Data to collect it. Media and entertainment have noticed the great potential of data analysis for their prosperity. So here we have some of the benefits they get from it:
- Predicting audience interests.
- Optimized or on-demand scheduling of media streams on digital media distribution platforms.
- Gaining insights into customer opinions.
- Effective targeting of ads.
Big Data in banking sector
Adequate study and analysis of this type of banking data can help detect various illegal activities such as credit/debit card use, money laundering, alteration of customer statistics, and other acts.
Currently, there are several anti-money laundering software, such as SAS AML. Which uses Data Analytics in Banking to detect suspicious transactions and analyze customer data. A study has revealed that the amount of data generated in the banking sector has skyrocketed after the 2020 pandemic. And it continues to grow.
Big Data in the government sector
Finally, we have the use of Big Data in the government sector. Governments often come face to face with an enormous amount of data daily. This is due to the constant monitoring of different records. In addition to citizen databases, population growth, resources, geographic surveys, and a lot of other information. All of this vast amount of data contributes to Big Data. A proper study and analysis of this data help governments in different aspects:
- Making faster and more informed decisions regarding policy programs.
- Identifying areas that need immediate attention.
- Overcoming national challenges such as unemployment, terrorism, energy resource exploration, and more.