Untapped “New World Oil:: Big Data Got Bigger During Pandemic and Social Distancing
Shikha SaxenaJan 11 · 4 min read
Challenges during pandemic, also caused unprecedented and overwhelming increase in the structured and unstructured data. Big Data got bigger and bigger through data sharing during pandemic and social distancing in 2020. Collection of enormous semi-structured and unstructured big data — aka untapped “New World Oil” that got bigger during pandemic and social distancing across globe, with limited resources to streamline and analyze, is going to be global point of concern.
Tremendous advancement in information and healthcare technology used by people all over the world had already caused havoc in increase of digital data per second. The social distancing and need of individuals to reach out to the world digitally caused proliferation of digital data at an alarming level.
Enormous data produced by digital thermometer, hand held devices , mobile phones, media, social media, e-commerce sites, news websites created good raw material for data firms and researchers to analyze and draw conclusions in concerned domains. This can bring out fruitful outcomes and innovations, though it has caused big bourdon on data management organizations and government of respective countries in data handling and secure storage.
Use of big data analytics and useful insights may help data organizations and policymakers in a big way. However presently there is big challenge to handle huge influx of data, its mining and management.
What is Big Data?
Big data is enormous set of digital data produced by various electronic and digital devices used by people in routine lives.
There may be variety of data as produced through your machines as simple as emails, text, messages, images, memes, greetings you share with your family and friends to complex spreadsheets, excel sheets, pdf, videos, audio, podcasts and so on.
Depending upon their arrangements they may be called as structured, semi-structure or unstructured data.
Types of Big Data
New technology and advancement in technology have created digital wearables that can be used in place of regular medical instruments data readers, watch, glasses and clothing.
These device in addition to other mobile devices, can stream second-to-second, minute-to-minute changing data to hand held devices and hence proliferating and accumulating Big Data from numerous individuals and each utilizing multiple digital devices.
This data can be divided in to three categories depending on their formats:
Structured Data: Data that can be collected, processed, retrieved and stored in a fixed format.
Unstructured Data : This type of data lack any fixed structure and stored in any format. Analyses and retrieval of such data is a big challenge.
Semi-Structured Data: This data is a mix of two above mentioned types; structured and unstructured also called as hybrid data.
Seven Vs of Big Data
Scientists divide the data into seven categories depending upon their:
Variety: The different forms of data as coming from varied sources as twitter, Facebook, YouTube, Instagram, and similar sources, whether structured, semi-structured, unstructured collected in form of image files, video-audio files, text files, messages and so on.
Volume : The scale of data, stored in bytes as Terabytes, Zettabytes, Exabytes , Yottabytes.
Velocity: The speed with which data is streaming and collecting. How fast the data is processed and access is made available.
Veracity: uncertainty of data as the quality of data is poor, it inaccurate or unreliable data of poor quality.
Variability: The variability means the data that keeps on changing constantly. Main focus is on how this changing raw data is understood and interpreted in a correct manner.
Visualization: The visualization refers to style in which data is presented to data management personnel to make insightful decisions. Data may be presented as excel files, Word Docs, Graphics and so on. More than format presentation should be such that it should be easily understood.
Value: The data should be such that it should possess value to the end customer.
Lots of efforts are required and resources spent to meet requirements of above mentioned Vs.
Why Big Data is important?
It simply gives information about products and services, which can be utilized through analysis to improve services. Buyer, supplier and consumer preferences may be known and all can benefit equally from big data usage.
Fraud prevention This big data analyses is most important for banking domains and credit card holders. Earlier rule based understanding was being used to invoke alarms against criminal activities.
Thanks to Big Data analytics and increasingly becoming sophisticated and intelligent machine learning, fraudulent cases are being detected and prevented early in cycle.
Security Intelligence Organizations are using big data collected through security cameras and other security software to keep off hackers and cyberattacks they plan.
Recommendations This kind of big data analytics help you watch most recommended movies on Netflix or buy a product that receives most recommendations on Amazon websites.
Social Media Analysis and Responses Flow of social media posts through Facebook, Twitter, Instagram and other social media are creating havoc. There is a clear need to analyze and monitor such data and utilize it to maximize positive usage. These can be handled by marketing intelligence or big data analytics solutions.
Operational efficiency Information and datagained so far will help to create models that will study and bring out outcomes, to fight unseen and unheard epidemics with greater efficiency in future.
Massive information to Scientists, healthcare professionals and epidemiologists. Big data will help them to make informed decisions and also track the epidemic on global level in time to come.
Big data will help in orthopedic and trauma surgery predictive analysis with available data furnished during pandemic to fight future unprecedented conditions if they are mimicked in any forms.
Big Data Analytics combined with Artificial Intelligence (AI) will help in research, control, and prevention of such pandemic in future.
There is a need of the hour for likeminded people , young, fresh and innovative minds to come forward, join hands, contribute and find ways to make best use of this Untapped Information: “New World Oil” ……….help and save mankind!DataDrivenInvestor
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WRITTEN BY
Shikha Saxena
A Technical Writer, an artist and blogger by choice. Passionate about reading , writing and editing. http://www.shikhasaxena.com and https://www.dnabox.co/
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