Every day plenty of data is generated worldwide and stored by public administration and private companies, around 2.5 trillion bytes globally to be precise. Besides, cities are full of sensors collecting all kinds of feed regarding weather, telephony, traffic.
Big Data Analytics is a concept that clusters all those technologies and mathematical developments dedicated to store, analyze and cross-reference all that information to try and find behavioural patterns. Let´s dive into Big Data Analytics and this year´s trends.
90% of the data available in the world today has been created over the last two years. We find ourselves in the age of big crater but what does this mean exactly? Big data analytics is the study of huge amounts of stored data in order to extract behavior patterns. These data are characterized by the high speed. They are being generated with the huge volume.
They represent the immense variety of typology. They encompass Andres agree of veracity. They are more than 2.5 trillion bytes of information are generated every day through our smartphones, tablets, GPS, devices sensors, spread all over our cities bank cards what can be done with all this information. This is where big data analytics comes into play a combination of high technology systems and mathematics. Which together are capable of analyzing all this information and providing it with a meaning of great value for companies or governments.
There are four types of big data analytics. The descriptive one explain to what happened in the past based on data presented through graphics or reports. But not why or what will happen in the future. The diagnostic one closely linked to the previous type seeks to understand the reasons why any given event took place in the past. The predictive one the most useful for companies goes through data in order to predict what could happen. And finally the prescriptive one an evolution of the preceding approach based on automation processing or a/b testing.
The system decides analyzing and predicting data advices on how to proceed according to them by recommending for example the best location on your site to place a banner or the most convenient gas station along your way if you want to avoid traffic. Big data analytics helps companies orpublic administrations to understand the users better find. Previously unnoticeable opportunity provide a better service and these on mitigate fraud the revolution of data fication is just beginning. Source
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