How can big data help us?

— August 13, 2014

SAS claims that it is not how you collect data; the important thing is your purpose in using Big Data. In general, there are four benefits that Big Data brings: reduce cost, save time, lengthen development time, and optimize products, as long as assist people in making prompt and reasonable decisions.

You may notice that when shopping online on eBay, Amazon, or similar websites, the page gives you suggested products. For example, when you shop for t-shirts, the page suggests jeans or belts. Therefore, research in customers’ preferences, habits consequently enables more sales.

So in web application development, where does the information about habits and preferences come from? It comes from the vast amount of data that business collect while customers visit and interact with their website. Being able to effectively exploit Big Data not only gain profits for business but also improve users’ shopping experience as they can save time from suggestions instead of looking for stuff for themselves.

End users like you and I benefit from such optimization of web application development; yet, we ourselves find it hard to develop or purchase Big Data solutions because the cost is too high, about hundreds of thousands of dollars. Besides, the amount we own can hardly be considered big enough as it is only a few Terabyte within a long time.

In the long run, Big Data applications can allow organization and government to predict unemployment rate, job trends in the future to invest in those sectors or cut cost, stimulate growth, or develop precaution solutions for some diseases.

According to Oracle, Big Data analysis and big size data helps organizations earn 10,66$ for every dollar of analysis fee. A school in a main district witnessed income growth of 8 million dollars every year. An anonymous financial company grew 100% profits on the investment capital within 3 years.