Advances in IT Topics

Big data analytics can be used by company to make informed business decision by examining large amount of varied data to get customer preferences, market trends and other useful information. Company can use it to explore new revenue opportunities, improved operational efficiency, better customer service and competitive advantages over rivals.

Clearly, big data is transforming the world of health care through making impressive strides with cost reductions, algorithmic diagnostics and software system

Technology companies are using big data to analyze millions of voice samples to deliver more reliable and accurate voice interfaces. Banks are using big data techniques to im- prove fraud detection. Health care providers are leveraging more detailed data to im- prove patient treatment. Big data is being used by manufacturers to improve warranty management and equipment monitoring, as well as to optimize the logistics of getting their products to market. Retailers are harnessing a wide range of customer interactions, both online and offline, in order to provide more tailored recommendations and optimal pricing.96

One of the new catchwords in healthcare is “Big Data”. Big Data is commonly defined by the three V’s, volume, velocity, and variety of data (Adamson, n.d., para. 4). I believe Big Data will live up to the hype surrounding it in healthcare. Even though it may take a while for healthcare to understand it and harness what it can do. Cultivating copious amounts of health data from a variety of sources has immense potential for everyone including the patient, healthcare organizations, and research.

In your business, you have your own big data challenges. You have to turn heaps of data about various entities into actionable information. The reporting needs of institutions have evolved from simple single subject queries to data discovery and enterprise-wide analysis that tells a complete story across the institution. While the volume, variety and velocity of big data seem overwhelming, big data technology solutions hold great promise. The way I see it we can use this as one of the biggest asset for the company. We have the capacity to see patterns recounting in real time across complex systems. Huron is marshalling its resources to bring smarter computing to big data. With the Huron big data platform, we are enabling our clients to manage data in ways that were never thought possible before.

Business thrive when they have the most accurate, up-to-date, and relevant information at their disposal. This information can be used for a plethora of pertinent markers in small and large businesses, relating to accounting, investments, consumer activity, and much more. Big data is a term used to describe the extremely large amounts of data that floods a business every day. For decades, big data has been a growing field, facing controversy on many levels, but as of late, it has been a major innovator in the challenge of making businesses more sustainable. Big data is often scrutinized for its over-generalization and inability to display meaningful results at times. When applied correctly, data analysis can bring earth-altering information to the table.

Now that we have figured out how to harvest the free and ubiquitous big data, the next huge challenge is to figure out how to analyze and display the information in a useful and meaningful way. The big question today is how you present big data in a way that human beings can quickly understand and make decision. Most big corporations and government entities are drowning in a pool of their own data, because they lack the corresponding manpower to understand the data and extract meaningful knowledge out of it (Bizer, Boncz, Brodie, & Erling, 2012).

Big data is not as new as many people believe it to be. It is actually a concept that has been around for almost a century. It is just the “same old data marketers have always used, and it’s not all that big, and it’s something we should be embracing, not fearing” (Arthur). In 1944, Fremont Rider “predicted that the amount of data in the world would increase exponentially” (Hopp). Rider was right on target with his prediction seventy years ago. Data has grown much greater than he probably could have ever imagined back then.

Data is the most valuable tool in your business. Based on a Gartner survey, 73% of organizations have invested or plan to invest in big data within the next two years.

Big Data refers to the large amounts of data that businesses deal with on a day-to-day basis. Big Data can be defined in many ways, but this is one of the most general definitions. One of the primary uses businesses have for Big Data is to provide assistance for decision making. In order for Big Data to be effective, organizations must utilize the data to their advantage. The quality of information is what matters, not the quantity. Organizations may have virtually unlimited amounts of data to work with, but they must locate the helpful portions of data in order for it to be effective and serve its purpose. In addition, some data may not be helpful at the present moment in time, but will be needed for analysis in the future (“What Is Big Data?”,

A very simplified way of looking at big data refers to, “the sheer mass of data produced daily by and within global computer networks at a pace that far exceeds the capacity of current databases and software programs to organize and process” (Dewey, "Big Data"). The world of big data has evolved primarily from the business intelligence and analytics field of information technology. Big data and big data analytics involve big data sets. The information that is stored requires unique ways of holding and organizing the data in order to process it correctly. Common methods of data storage are just not possible. The internet has added to the amount of data that can be captured. With the ability of advertisers to utilize technologies to capture user information through web interfaces, the sheer magnitude of information that can be kept is staggering. All of this information can be put to use by any number of businesses and governments (Chen, Chiang, and Storey, "Business Intelligence and Analytics: From Big Data to Big Impact."). The ability to direct or channel all of that information opens unbelievable doors to virtually any organization. All kinds of organizations would benefit including businesses, governments, schools and hospitals (Dewey, "Big Data"). “Big data may be as important to business –

According to a report from The International Business Machines Corporation, known as IBM, 90% of the data in the world has been generated in the last two years. Frank J. Ohlhorst (2013) explains how the concept of collecting data for use in business is not new, but the scale of data that has been collected recently is so large that it has been termed Big Data (p. 1). Company executives who choose to ignore Big Data are denying their companies an advantage over their competitors. Big Data analysis is fundamental for all fields of work; it provides an insight to large amounts of data that will answer questions and make discoveries to improve efficiency in all areas of the world.

Presence of big data is a very common phenomenon now days, specially when talking about medium to large size corporation. Manyika et al., in their article (James Manyika, 2011) defined the term big data as “large pools of data that can be captured, communicated, aggregated, stored, and analyzed”. To clarify they suggested that big data refers to data, whose size makes it impossible to be processed by the typical software used for database management. Gartner (Gartner, 2012)defined big data in terms of its characteristics of high volume, high velocity and high variety. By volume, he referred to the size of the data, by velocity he referred to the speed at which the data is created and by variety he referred to the range of types of data.

Data analytics has drastically changed how business operate on a day-by-day basis. It can make or break a business. It involves “exploring huge volumes of data to provide greater insight and intelligence, and doing so quickly.” (Efraim Turban. Linda Volonino. Gregory R. Wood., 2013) According to the Better Business Outcomes White Paper that was published by IBM, IBM observed that the planet was becoming more instrumented, interconnected, and intelligent about five years ago. Twenty thousand engagements later, though not it doesn’t say how many years later, IBM has gained critical knowledge of how big data analytics can improve conditions for organizations in nearly every industry. (Better business outcomes with IBM Big Data &

There are lots of opportunity associated to big data that help any organization to handle their large amount of data, like in financial sector it store data related to finance, healthcare sector it store health related patient records, doctors detail and medicine ,medical equipment related details . In retail sector it is also used [5]. Web/social media/mobile companies also use it for storing their user detail and data like their likes, search pattern, calling and messaging records. Manufacturing and government sectors also use it.