What is Big Data?
We are surrounded by data all around. Private businesses make the most use of data by collecting it and analyzing your preferences to get useful information. The huge size of data generated through a plethora of mobile, internet, social media, etc. with volumes of structured, semi-structured, and unstructured data we referred to as big data. Businesses are playing with this collection of data that is proven to be useful in getting valuable insights.
Let’s know three types-
Structured data is a database of organized data that can be used by companies for effective processing and analysis. It is written in a specific format that can be understood by the search engines.
Unstructured data is the data with unknown form. It creates a lot of challenges for the companies at the time of processing as it is heterogeneous in type. The data is a combination of text files, images, videos, etc. This raw form of data can create value only when it is processed and analyzed.
Semi-structured data is unlike unstructured complex data and can be processed and analyzed with the help of metadata tagging that can catch useful information associated with that tag.
Application of Big Data
Big Data for financial services: Big data is used in credit card companies, retail banks, private wealth management advisories, insurance firms, etc. The massive amounts of multi-structured data can be solved by big data. The data is then used for customer Customer analytics, Compliance analytics, Fraud analytics, and Operational analytics.
Big Data in communications: Big data in communications is used to gain Gain new subscribers and retain customers. Big data holds the capability to combine and analyze the masses of customer-generated data and machine-generated data that is being created every day.
Big Data for Retail: Here, big data is used to understand the customer better and holds the power to deal with tons with data every day including the weblogs, customer transaction data, social media, etc.
A Career in Big Data
The world of big data is big as it is impacting various sectors such as banking and finance, media and entertainment, healthcare, education, agriculture, and online retail. To make your lucrative career as a big data professional, you need to master Analytical skills, Mathematics and statistics, Java, and Hadoop.
What is Data Science?
Data science is the study of raw and unstructured data that is processed through analytical, programming, and business skills. This field uses scientific methods, processes, algorithms, and systems to extract insightful patterns and trends. Data scientists make use of technology, mathematics, and statistical techniques to create meaning out of the unstructured data that can be further used to make business decisions.
Applications of Data Science
Internet search: Here, data science algorithms are used by search engines to deliver the best results for search queries in a fraction of seconds.
Digital Advertisements: Here, data science algorithms are used by the digital marketing spectrum.
A Career in Data Science
A plethora of data science industries are reaping benefits from data science. A few of which include sales and marketing departments, banking institutions, streaming services, shipment companies, etc. With experts predicting that 40 zettabytes of data will be in existence by 2020, Data Science will give way to many job opportunities! Polish your skills in SAS, R/Python programming, Hadoop, SQL database, Analytical skills, Statistics, Mathematics, and Visionary thinking to get the best job as a data science professional.
What is Data Analytics?
Data analytics is the process of extracting and categorizing data using qualitative and quantitative techniques. It enhances the productivity of the business by getting operational insights. Big data analysts play a crucial role in finding better solutions for the growth of the organization.
Applications of Data Analytics
Healthcare: Data analytics in Instrument and machine data is used to increasingly track as well as optimize patient flow, treatment, and equipment used in the hospitals.
Travel: Buying experience can be totally optimized with the help of mobile/weblog and social analytics. An in-depth insight into customer’s desires and preferences can be gained.
There are many other industries too that are making use of data analytics. A few of them include gaming and energy management.
A Career in Data Analytics
Consulting and research firms are understanding the power of analytics in the day-to-day decision-making process as well as strategic thinking. There is a huge shortage of skilled people in analytics and you can make the most out of it. If you have a passion for numbers and can make it in a lucrative industry, waste no more time in mastering programming, communication, artificial intelligence, and data wrangling skills.
Three of these fields love playing with data. If you are also the one who can join the army and are a die-hard fan of numbers and data, wait no more to strengthen your skills in the big field of big data, data science, and data analytics.