Big Data
ANS 1)
a) Daily we are creating billion bytes of data in digital form be it on social media, blogs, purchase transaction record, purchasing pattern of middle class families, amount of waste generated in a city, no. of road accidents on a particular highways, data generated by meteorological department etc. This huge size of data generated is known as big data. Generally managers use data to arrive at decision. Marketers use data analytics to determine customer preferences and their purchasing pattern. Big data has tremendous potential to influence decision making in business and public sector. It is a revelation in technology and will have dramatic impact on the economy, science, and society at large. Big data can help businesses, society and enterprise save billions of dollars. It can be leverage by business organization in increasing revenue and delivering services to society in a much efficient way.
Big data requires exceptional technologies to efficiently process large quantities of data within tolerable elapsed times. A 2011 McKinsey report suggests suitable technologies include A/B testing, association rule learning, classification, cluster analysis, crowd sourcing, data fusion and integration, ensemble learning, genetic algorithm.
Following decades of work in the area of the effective usage of information and communication technologies for development (or ICT4D), it has been suggested that Big Data can make important contributions to international development. On the one hand, the advent of Big Data delivers the cost-effective prospect to improve decision-making in critical development areas such as health care, employment, economic productivity, crime and security, and natural disaster and resource management. On the other hand, all the well-known concerns of the Big Data debate, such as privacy, interoperability challenges, and the almighty power of imperfect algorithms, are aggravated in developing countries by long-standing development challenges
a) Daily we are creating billion bytes of data in digital form be it on social media, blogs, purchase transaction record, purchasing pattern of middle class families, amount of waste generated in a city, no. of road accidents on a particular highways, data generated by meteorological department etc. This huge size of data generated is known as big data. Generally managers use data to arrive at decision. Marketers use data analytics to determine customer preferences and their purchasing pattern. Big data has tremendous potential to influence decision making in business and public sector. It is a revelation in technology and will have dramatic impact on the economy, science, and society at large. Big data can help businesses, society and enterprise save billions of dollars. It can be leverage by business organization in increasing revenue and delivering services to society in a much efficient way.
Big data requires exceptional technologies to efficiently process large quantities of data within tolerable elapsed times. A 2011 McKinsey report suggests suitable technologies include A/B testing, association rule learning, classification, cluster analysis, crowd sourcing, data fusion and integration, ensemble learning, genetic algorithm.
Following decades of work in the area of the effective usage of information and communication technologies for development (or ICT4D), it has been suggested that Big Data can make important contributions to international development. On the one hand, the advent of Big Data delivers the cost-effective prospect to improve decision-making in critical development areas such as health care, employment, economic productivity, crime and security, and natural disaster and resource management. On the other hand, all the well-known concerns of the Big Data debate, such as privacy, interoperability challenges, and the almighty power of imperfect algorithms, are aggravated in developing countries by long-standing development challenges