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Top 10 In-Demand Big Data Skills To Land ‘Big’ Data Jobs in 2024
Updated on 22 November, 2022
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Big Data has become the buzzword today in the world of technology. All top business strategic decisions are taken based on Big Data and Data Sciences technologies. This has contributed to increasing demand for Big Data engineers in India and is expected to soar up in the coming years.
There has been tremendous growth in the tools and techniques around Big Data and other related fields. Big Data has become the answer to using and analysing real-time data. In today’s competitive business work, no company can survive without Big Data.
Top Big Data Skills
1. Analytical Skills
Analytical skills are one of the most prominent Big Data Skills required to become the right expert in Big Data. To Understand the complex data, One should have useful mathematics and specific science skills in Big Data. Analytics tools in Big Data can help one to learn the analytical skills required to solve the problem in Big Data.
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2. Data Visualization Skills
An individual who wants to become a Big Data professional should work on their Data Visualization Skills. Data has to be adequately presented to convey the specific message. This makes visualization skills are essential in this area.
One can start by learning the Data Visualization options in the Big Data Tools and software to improve their Data Visualization skills. It will also help them to increase their imagination and creativity, which is a handy skill in the Big Data field. The ability to interpret the data visually is a must for data professionals.
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Also Read: Career Scope for big data jobs.
3. Familiarity with Business Domain and Big Data Tools
Insights from massive datasets are derived and analyzed by using Big data tools. To understand the data in a better way by Big Data professionals, they will need to become more familiar with the business domain, especially with the business domain of the data they are working on.
In-Demand Software Development Skills
4. Skills of Programming
Having knowledge and expertise in Scala, C, Python, Java and many more programming languages are added advantages to Big Data Professional. There is a high demand for programmers who are experienced in Data analytics.
To become an excellent Big Data Professional, one should also have good knowledge of fundamentals of Algorithms, Data Structures and Object-Oriented Languages. In Big Data Market, a professional should be able to conduct and code Quantitative and Statistical Analysis.
One should also have a sound knowledge of mathematics and logical thinking. Big Data Professional should have familiarity with sorting of data types, algorithms and many more. Database skills are required to deal with a significantly massive volume of data. One will grow very far if they have an excellent technical and analytical perspective.
Learn: Mapreduce in big data
5. Problem Solving Skills
The ability to solve a problem can go a long way in the field of Big Data. Big Data is considered to be a problem because of its unstructured data in nature. The one who has an interest in solving problems is the best person to work in this field of Big Data. Their creativity will help them to come out with a better solution to a problem. Knowledge and skills are only good up to a limit. Creativity and problem-solving skills are even more essential to become a competent professional in Big Data.
6. SQL – Structured Query Language
In this era of Big Data, SQL work like a base. Structured Query Language is a data centred language. It will be beneficial for a programmer while working on Big data technologies such as NoSQL to know SQL.
Knowledge Read: Big data career transition
7. Skills of Data Mining
Experienced Data mining professionals are in high demand. One should gain skills and experiences in technologies and tools of data mining to grow in their careers. Professionals should develop most-sought data mining skills by learning from top data mining tools such as KNIME, Apache Mahout, Rapid Miner and many more.
Read: Big data engineering jobs and its career opportunities
8. Familiarity with Technologies
Professionals of Big Data Field should be familiar with a range of technologies and tools that are used by the Big Data Industry. Big Data tools help in conducting research analysis and to conclude.
It is always better to work with a maximum number of big data tools and technologies such as Scala, Hadoop, Linux, MatLab, R, SAS, SQL, Excel, SPSS and many more. There is a higher demand for professional have excellent skills and knowledge in programming and statistics.
Read: Big data engineering jobs and its career opportunities
9. Familiarity With Public Cloud and Hybrid Clouds
Most Big Data teams will use a cloud set up to store data and ensure the high availability of Data. organisations prefer cloud storage as it is cheaper to store large volumes of data when compared to building an in-house storage infrastructures. Many organizations even have a hybrid cloud implementation where in data can be stored in-house or on public cloud as per the requirements and organisation policies.
Some of the public clouds that one must know are Amazon Web Services (AWS), Microsoft Azure, Alibaba Cloud etc. The in-house cloud technologies include OpenStack, Vagrant, Openshift, Docker, Kubernetes etc.
10. Skills from Hands-on experience
An aspiring Big Data Professional should gain hands-on experience to learn the Big data tools. One can also go for short-term courses to learn the technology faster. If one has good knowledge about newer technologies, then it will help them in understanding the data better by using modern tools. Their interaction with the data will improve give them an edge over the others by bringing out better results.
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Conclusion
If you have stumbled upon this article, probably you are looking for a career in Big Data. Take it from us that Big Data is one of the most rewarding career options today. The top skills required by Big Data professionals are discussed here. Sharpen your skills according to what’s listed out here and be sure to acquire relevant certifications to advance in your career.
If you are interested to know more about Big Data, check out our Advanced Certificate Programme in Big Data from IIIT Bangalore.
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Frequently Asked Questions (FAQs)
1. Where is the demand for Big Data jobs coming from?
The demand for Big Data jobs is coming from data-driven decision-making. If you plan to become a successful organisation in this decade, begin with putting data to your advantage. Earlier, Excel took care of the part where data was involved. However, with plenty of changes around, the world has moved a lot ahead of Excel, such as Google Analytics, Python, R, Tableau, and Power Bi. These tools play a crucial role in digital marketing, data visualisation, and computer coding. Tech giants like Amazon, Facebook, and Google actively put data science to use to ensure customer satisfaction and increase their profits. Considering all these points, it is best to state that Data Scientists will be in high demand in years to come.
2. How do Big Data skills help in real-life?
The Media and Entertainment Industry uses Big Data to grab insights from multiple valuable sections such as predicting audience, customer reviews, campaigns, programming channels, and interests. For instance, the recommendation of programs that we see on Amazon Prime Video comes from Big Data metrics. Prime then uses these analytics for individual users and suggests to them the programs they prefer. Spotify also uses the same trick to offer personalised music recommendations to its users. There are many other Big Data real-life applications that have practical approaches too.
3. How does Big Data contribute to the banking sector?
The banking sector uses Big Data analytics for productive use, such as detecting fraud. Banks constantly inspect cardholders’ purchase patterns to track down anomalies and fraudulent transactions. Furthermore, using Big Data analytics, banks can monitor and send reports for KPIs, processes, and other employee activities. They also use Big Data to build customer profiles and manage their lifestyle. All of this can enhance marketing initiatives and help reach customer goals in a short period of time.
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From IT to Big Data – BITS Pilani Launches PG Program in Association with UpGrad
Looking to upskill IT professionals for a $100 billion opportunity in Data and Digital, BITS Pilani has launched a new program in Big Data Engineering, in association with UpGrad.
As per recent industry estimates, radical technology changes and increasing automation is expected to lead to an elimination of almost 20-30% jobs in the Indian IT sector, amounting to over 1 million layoffs. Most of these jobs need to be repositioned to avoid a net loss of jobs in this sector. New age technologies in digital and data, which are re-defining several existing roles. It represents an estimated $100 billion revenue opportunity for the IT industry and can potentially create 1.5-2 million additional jobs in the sector, by 2025.
The most important task ahead, for the young professionals working in the IT and allied sectors, and who form a large part of India’s consumption story and its middle class, is to re-skill while working. The rapid changes occurring across industries and businesses are likely to affect them the most.
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For these professionals, online education presents a valuable option to stay relevant without quitting their jobs. Recognizing the needs of these professionals and the Industry, BITS Pilani has launched an online Post-Graduate Program in Big Data Engineering, in association with UpGrad. The program will train students in areas like Batch Processing, Real-Time Data Processing, and Big Data Analytics.
Recent industry estimates expect Big Data & Analytics to grow at a 26% CAGR to $16 billion by 2025 – creating a need for almost a million data engineers. Prof. Sundar (Director – Off-Campus Programmes & Industry Engagement, BITS Pilani) says,
“Big Data is increasingly finding adoption in all critical business applications. For this domain to realize its full potential, there is a need for high-quality technical talent in large numbers.”
On the other hand, online education is widely gaining acceptance.
“In the last couple of years, online as a platform has matured. It has the potential to provide a transformative learning experience to professionals in India, at a large-scale. Through this program with BITS Pilani, we hope to empower many individuals to meet their full professional potential,”
added Ronnie Screwvala and Mayank Kumar, Co-founders of UpGrad.
Speaking on the partnership with UpGrad, Prof. Gurunarayanan (Dean – Work Integrated Learning Programmes, BITS Pilani) mentioned,
“BITS Pilani has a long history of providing quality technical education. The prospect of combining our subject matter expertise with UpGrad’s ability to deliver quality online learning experience to a large number of students is very exciting.”
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Big Data Roles and Salaries in the Finance Industry
With the rapid advancement of Big Data, its power and influence are increasing very rapidly. Likewise, technologies, applications, and opinions based on Big Data are swiftly rising. Big Data may be the next big thing or utterly dead; a panacea or menace; the key to all future innovation or just a hollow branding term. Between these extremes, Big Data is an important area of focus for consumer finance. It has the potential to support and scale consumer financial health.
Big Data’s Evolution in Consumer Finance
Big data is a set of tools that can be used for creating, refining, and scaling financial solutions. It is sewn into the consumer financial services marketplace, in sophisticated ways. It is instructive to examine the greatest potential areas for the further development of big data. Also, the ways to foster its use in a safe, responsible, and beneficial manner on a large scale.
Big data is now a fundamental element of risk-profiling for the banks. Analysts can study the impact of geopolitical escalations on different market segments. Now, banks can map out market-shaping events in the past to predict future patterns.
Investment banks are using big data to analyse the effectiveness of their deals. They do this by studying the insights of trades they did or did not win on a client-by-client basis.
The data systems at most banks are not like retail giants or startups or fin-tech companies. They were not constructed to analyse structured and unstructured data. Remodeling the entire IT and data systems needed a deep analysis of a bank’s data. Updating is very time-consuming and costly.
Some banks have merged or acquired other banks or financial services businesses. These are facing even more complex issues while incorporating and updating IT systems. This is where big data can prove to be a game changer.
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Surge in hiring of big data analytics specialists
The competition between banks and fund managers to hire big data specialists is heating up. Banks are actively recruiting to fill two main, but different roles: Big Data Engineers and Data Scientists/Analyst.
Big Data Engineers are coming from a strong IT background. They have development or coding experience and are responsible for designing data platforms and applications.
Data Scientists, in contrast, are bridging the gap between data analytics and business decision making. They’re capable of translating complex data into key strategic insight. Data scientists are also known as analytics and insights manager or director of data science. They should have sharp technical and quantitative skills.
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Organisations working with Big Data, like Investment Banks usually follow this hierarchical structure:
Junior Associate –
A big data developer mainly working on Hadoop, Spark, Sqoop, Pig, Hive, HDFS, HBase. They’d have 5-6 years of industry experience in basic Java/Python/Scala programming.
Salary Range: INR 12-18 Lakhs per annum
Senior Associate –
A big data senior developer working on Hadoop, Spark, Sqoop, Pig, Hive, HDFS, HBase. They’d have an industry experience of 7 to 10 years in advanced Java/Python/Scala programming.
Salary Range: INR 18-25 Lakhs per annum
Vice President –
A big data architect with architecture experience in Hadoop, Spark, Hive, Pig, Sqoop, HDFS, HBase. They’d have expert programming knowledge in Java/Python/Scala with 10 to 15 years of experience.
Salary Range: INR 25-50 Lakhs per annum
The salaries of Big Data Engineers/Architects are 15-20% higher than other technologies in the current market scenario.
Combining massive data sets thoughtfully can lead to greater accuracy and granularity. Financially underserved consumers often have unique combinations of needs. Thus, tools allowing scalable tailored services at low costs are vital to the mutual success of consumers and providers.
However, the Big Data mosaic effect has also often raised concerns about its potential risk to consumer privacy, combining large data results in overly sensitive insights.
From my experience, a career in Big Data is extremely rewarding in the present scenario, especially in the financial sector. Huge volumes of data are threatening technologies like data warehousing. I have shifted in my own career from being a data warehouse architect into big data and data science as that is the need of the hour.
What do you think will be the impact of Big Data and other data technologies in the near future? Comment below and let us know.
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Conclusion
If you are interested to know more about Big Data, check out our Advanced Certificate Programme in Big Data from IIIT Bangalore.
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Know all about the backbone of Aadhaar – Big Data!
Do you ever wonder how Aadhaar data belonging to more than 1.32 billion Indian citizens is stored? How the generation of one million Aadhaar numbers is achieved by performing 600 trillion matches in a day? Have you ever wondered how 100 million authentications are undertaken; establishing the identity of a person by UIDAI in a day?
This article aims to provide answers to these questions. Along the way, this article will enumerate the requirement of Aadhaar and the two essential tasks of the UIDAI, i.e. enrollment and authentication. UIDAI has leveraged big data technologies like open scale-out, open-source, cheap commodity hardware, distributed computing technologies, etc. in handling and processing vast amounts of data.
Aadhaar a necessity?
The Indian Government was spending about 25 to 40 billion dollars on direct subsidies. According to CIA World Factbook, the GDP of North Korea was 40 billion for the year 2014.
We are spending the equivalent of North Korea’s GDP on direct subsidies.
The problem is not the subsidy, but the leakage of it. Most programs suffered due to ghost and multiple identities. Indians didn’t have any standard identity document. We possess many certificates viz., driving license, PAN card, voter card, etc. issued by central and state government authorities. All these certificates/cards were domain restricted. It was difficult to establish the identity of a person with these cards issued by the government.
So, there was a need felt for a document which could uniquely determine the identity of a person. Thus, one of the most challenging projects ever took birth. The task of providing identification to one billion people, i.e. one-sixth of the world’s population.
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Tasks performed by UIDAI
Two critical tasks performed by the UIDAI are enrollment and authentication. Enrollment is the process of providing a new Aadhaar number to a citizen. Authentication is the process of establishing the identity of a person. Both are entirely different beasts with their peculiar challenges.
Enrollment is an asynchronous process. An Aadhaar number is not provided instantaneously. The Aadhaar number is generated after some days of data collection. Processing of every enrollment requires matching ten fingerprints, both irises, and demographics with every existing record in the database. Currently, UIDAI is processing one million Aadhaar numbers a day. With the Aadhaar database at 600 million, processing 1 million enrollments every day roughly translates to about 600 trillion matches every day.
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The number game
Do you know how many years do one trillion seconds make? More than 31,000 years. Can you imagine the height of a tower that would be created by stacking one trillion pennies on top of each other? It will be more than 8,70,000 miles. One trillion ants will weigh more than 3000 tons. Six hundred trillion is a one followed by fourteen zeros. Besides storing such humongous amount of data, processing 600 trillion biometric matches in a day is beyond anyone’s wildest dreams.
On the other hand, imagine if a person wants to open a bank account. He approaches a bank employee. This employee wants to check if this person is who he is claiming to be before opening his bank account. This authenticity check can’t run forever; then no customer will be willing to open an account with that bank. Authentication is expected to be performed within quick seconds, even when the authentication volume is a few 100 million requests every day. Authentication is synchronous and needs to happen very fast.
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What’s the Difference between Data Science, Machine Learning and Big Data?
Now let us see how the architectural principles established with UIDAI help in achieving the tasks of enrollment and authentication efficiently and effortlessly.
Architectural Principles
Scale-Up
Up until the 90s Information Technology systems used to be monolithic, involving both technology and vendor lock-in. Once investment was made, it was challenging to break away from a particular vendor and technology. Advantage can’t be taken of the advancement in technology or drop in hardware and other costs. The only option was to ‘Scale-Up’ with the same vendor and technology.
Scale-Out
From the 90s to mid-2000s, the software with horizontal scaling capability at the application server layer came into existence. Even though it was possible to scale horizontally, it was tied up to a particular database vendor or application vendor. Here, there was no technology, but vendor lock-in. Here typically the computing environment, i.e. the hardware and OS used was similar across all application server nodes.
A Love Story Begins with Open Scale-Out
Open Scale-Out
This phase started from mid-2000 onwards. Here the system architecture is vendor and technology neutral. There is no lock-in with any technology or vendor. Infinite scope for scaling and interoperability exists. UIDAI achieved open scale-out with the help of cheap commodity hardware.
Commodity Hardware
Commodity hardware is nothing but that which is affordable and accessible. It has nothing special in it which is typically used by enterprise systems. The entire UIDAI hardware infrastructure is composed of cheap Linux based personal computers and blade servers. The advantage of commodity hardware is that the cost and the initial investment are meager. The architecture is scalable when the requirement exists. Equipment can be purchased from any vendor and plugged in for scaling the architecture. The advantage of a price drop in the future can also be used while scaling the infrastructure. The open source technology, which is used to cluster commodity hardware is known as Hadoop.
Distributed Computing & Open Source
Imagine how it would be if a monolithic structure did all the processing work required for generating an Aadhaar card. How significant would that structure be? How many processing cores are needed for 600 trillion matches a day? Is it possible to expand that structure if the number of matches required increases from 600 to 1200 trillion? How costly would that be?
For all these reasons, Aadhaar was implemented in a distributed commodity hardware. It is distributed not monolithic. The processing happens on many nodes at once, which reduces the execution times by many times. Distributed computing reduces the computation time, many times, which would take days in a traditional monolithic structure. The file system used in conventional sequential computing would not work in case of distributed computing.
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A distributed platform requires a specially designed file system.
Hadoop distributed file system (HDFS) is one such type of distributed file system. Special software is also needed to spread the workload between different nodes. On completion of processing at various nodes, this software should also aggregate the results. MapReduce is one such open source software which distributes and finally aggregates the processed results. Hive is a tool used to query the database distributed on the commodity hardware. Hive is very similar to SQL.
What Skill Development Really Means and Why It’s Important for Success
All these open source technologies like Hadoop, HDFS, MapReduce and Hive etc. come under the purview of Big data technologies. It is because of these technologies the processing time of computation, which would otherwise take days, can be reduced to mere minutes and at a very cheap cost. UIDAI entirely leveraged these technologies. It was implemented in a completely open scaleout fashion without any dependence on vendor or technology.
Kudos Team UIDAI!
Petabytes of data related to the identity of the citizens of a country, with a population more than one billion, is processed using open source technologies in a distributed fashion on commodity hardware. This is an astonishing feat of engineering which was successfully achieved by UIDAI. Team UIDAI deserves a thunderous applause for attaining this impossible feat.
The government should now think of creative ways to leverage this data in avoiding leaks that happen in its various direct subsidy programs. It should bring more transparency to financial transactions, prevent tax evasion, provide banking facilities to the poor, and other such crucial tasks. Then, we can achieve the status of a real ‘welfare nation’.
Wrapping up
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Planning a Big Data Career? Know All Skills, Roles & Transition Tactics!
Do you know the skills and steps required to successfully transition to a Big Data career?
If you’re someone who doesn’t belong to the Big Data Industry yet but has a background which may have links to it – you may be thinking about a lucrative and long-term Big Data career.
If you’re aspiring to be a Big Data Engineer or a Team Lead/Tech Lead or even a Project Manager/Architect, there are some key technical skills required by employers in the Big Data Ecosystem. These skills vary for different Big Data Roles.
In this article, we will discuss the technical skills required by employers for different Big Data profiles. We’ll also discuss organisational expectations from different hierarchical levels and steps to make a successful Big Data career transition.
Essential Skills
Here are the essential skills needed for making a successful Big Data career transition:
Distributed Computing Big Data Environments
You should have hands-on skills in at least one of the many Hadoop Distributions (viz. Hortonworks, Cloudera, MapR, IBM Infosphere BigInsights). At this point in time, Cloudera distribution is the most deployed distribution.
Cloud Data Warehouses
Since there is an increased affinity towards moving from on-premise data warehousing solutions to cloud-based data warehousing solutions, you should have skills in technologies like Amazon Redshift or Snowflake. Redshift is a fully managed cloud-based petabyte-scale data warehousing solution.
NoSQL & NewSQL
You should have skills in some of the new emerging NoSQL technologies. For e.g. MongoDB (which is a document database) or Couchbase (which is a key-value store). Others like Cassandra and HBase are also popular. On the cloud, Amazon has specific databases like DynamoDB and SimpleDB (both key-value pair stores).
Data Integration & Visualisation
As you work on large-scale analytics projects, you will be ingesting data from multiple sources. Keeping this in mind, you should have knowledge of Big Data compliant integration technologies like Flume, Sqoop, Storm Kafka etc. Data Integration products like Informatica and Talend have also upgraded their capabilities to Big Data processing. In the world of visualisation, Tableau and QlikView are popular. They also integrate with other BI (business intelligence) reporting data stores.
Business Intelligence (BI)
Hands-on knowledge of Business Intelligence technologies is also helpful. There are several technologies available in BI. For e.g. IBM, Oracle and SAP have acquired BI suites. Microsoft’s BI stack is largely organically developed. Others like Microstrategy and SAS are also independent BI providers.
Big Data Testing
Big Data Testing is fundamentally different from traditional ETL and application testing because of the volume of data involved. The differences in test scenarios occur due to the velocity and variety of data. Also, in certain cases, execution of test cases requires scripting and programming skills (Pig scripts, Hive query language etc.).
Organisational Expectations and Hierarchical Responsibilities
An organisation has different expectations from different levels of the workforce:
Young Professionals (less than 5 years of overall experience)
People in this age group mostly work as Big Data Engineers. As a Big Data Engineer, you are expected to be conversant with the above-mentioned technologies in the form of hands-on skills. As engineers, you would be responsible for building, testing and deploying the Big Data solutions.
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Mid-Career Professionals (5 to 10 years overall experience)
People in this age group work as a team or tech leads. As a leader too, you are expected to be conversant in the above-mentioned technologies but will also be responsible for taking design decisions, conducting regular checkpoint reviews of the deliverables and providing overall technical guidance to the developers.
Senior Professionals (overall experience of more than 10 years)
Enterprise Architects: Enterprise architects are expected to be familiar with the above-mentioned technologies along with having a holistic view of the Big Data Landscape. As an architect, you are expected to be trusted partners of the clients, advising them on the right architecture, transformation strategy and roadmap, tool selection and vendor evaluation.
Project Managers: For a PM, managing a Big Data project team requires cross-functional team management skills – data warehousing teams, Business Intelligence teams, statisticians, domain experts and data teams. Knowledge management is another key skill. It is important to understand and plug knowledge gaps in the team. Further, a Big Data PM is expected to understand Agile methodologies to deliver the projects.
What’s the Difference between Data Science, Machine Learning and Big Data?
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Transitioning to Big Data
The best way to make a Big Data career transition is by acquiring the relevant skills and then applying them in case studies/projects that simulate real-life scenarios. These could be part of a training program/education program, or through shadowing in-flight projects (or Proof of Concepts – PoCs) in existing organisations, wherever possible.
The following is a breakdown of the kind of activities practitioners can do in these case studies, according to the experience levels.
Young Professional (less than 5 years of overall experience)
You should be looking to acquire the skills through training programs/PoCs and then apply them to projects that simulate real-life scenarios.
Mid Career Professional (5 to 10 years overall experience)
You should drive technology solution discussions, coming up with designs and conducting reviews of work products and guiding teams during the case studies.
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Senior Professionals (overall experience of more than 10 years)
You should be the one who kick-starts the execution of the case studies, acquiring a clear understanding of functional requirements, developing the solution strategy to meet project requirements within stipulated timelines and developing the project charter (PM roles) and overall technology solution (Architect roles).
This takes us to the question:
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What should you look for in a good Big Data Program or Course?
The course should provide the right enablers for the participants to complete a Big Data career transition into these roles.
The following are the 3 key expectations you should have of any course:
Technical skills:
The course should impart the above-mentioned skills through a suitably designed curriculum.
Cloud platform:
You should get access to a cloud platform with the relevant software and experiment with it.
Case studies/Projects:
The course should have a simulation of real-life scenarios as explained above, where participants in the various categories can play out the roles as explained above.
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Big Data Applications That Surround You
The consumer market today is becoming more and more competitive and companies are struggling to offer something unique to their consumers. To be able to do that, companies need to understand the consumers better. The primary way to get meaningful consumer insights is to analyse the existing data collected from users. These insights can then be used not only to continue selling the products but provide customised events and service, which are available at a premium.
This trend is fairly common in new age industries such as e-commerce, even traditional, centuries-old industries greatly benefit from big data and analytics applications. For example, by installing sensors and subsequently analysing them, a railway operator can analyse their fixed and rolling assets. Big data analytics can identify when to carry out preventive maintenance on assets such as bridges and railway lines, increasing economic life and reducing downtime. Hence, data is not just benefitting new-age industries, but the traditional industries as well.
Here are some of the most commonly used big data applications around you, across industries:
Retail
Companies collect data of individual customers, the type of purchases they’re making and more importantly where they’re making the purchases. Based on this information, companies are able to segment customers according to their buying behavior. They then make predictions on what they will be buying in the future. This data is also used to cross-sell or upsell items, with the help of attractive offers on these new items.
Location
Another big use of data in analytics is to map areas or locations, as well known by everyone who uses Uber or Ola or Google Maps. Even food delivery apps and other apps that deliver goods to your doorsteps know where you live/work, etc. A huge amount of data gets captured every time you order and it includes all location characteristics in it. This information is also mined from a public policy perspective to look for traffic jams and also for taking decisions like setting up public transportation facilities such as metro stations.
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Energy
The advent of big data has had a huge impact on the energy sector. Big data involves a large number of sensors and data collection methodologies which have allowed for the setting up of large systems for preventive maintenance. It enables better forecasting of demand. For example, ten years ago, there were no smart meters. Now, the power utility sector has very good information on how their consumers are consuming their power, the time, and the load that is consumed. This is actually helping them to make their investment decisions much faster. These industries are becoming more efficient both in terms of cost and in operation.
Telecom
Every operator is searching for new ways to increase profits during a time of stagnant and competitive growth in the industry. Here is where telecom companies are advancing rapidly in terms of being able to capture data and use it wisely for a variety of uses. Companies around the world are using big data to gain market share with targeted promotions, combating fraud, improving customer experiences and designing newer product offerings.
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Automotive
This sector is actually now trying to become more connected. Self-driving cars that we all already know about is one of the biggest buzzwords. Underneath it, to make this possible, there is a huge amount of technology that vehicles are collecting, gathering and using in conjunction to come up with these advancements. Increased government encouragement of electric vehicles requires location analytics to establish charging stations.
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What lies ahead?
The only thing that is going to hold back the Big Data industry is the number of people who are skilled in it. The big data applications are actually limitless. There is a huge demand for skilled people at all levels from project managers to raw beginners. As a practitioner who’s been in this industry for some time, I can tell you that there is a huge demand. Companies are facing a talent problem at all levels and the solutions also have to come from different sources, such as increased access to education, training initiatives by companies, awareness spreading by the government.
The 11-month BITS Pilani and UpGrad program for working professionals is exactly the type of program that we need to help people who are ambitious, keen on furthering their careers and following their passions. I think a course like this is very useful because you have a large number of people who come from the industry and are excited to teach. Students will benefit a lot from learning hands-on and through practitioners directly. I am fairly certain that it will involve a lot of problem-solving and casework type methodology. So, I think people are going to have fun while they’re at it. I think that’s especially important when you are doing something on your weeknights and weekends.
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Views shared in this blog are the author’s personal views and they do not reflect the official stance of The Boston Consulting Group (BCG) or any of the author’s clients.
Conclusion
If you are interested to know more about Big Data, check out our Advanced Certificate Programme in Big Data from IIIT Bangalore.
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Read Moreby Sanjay Sinha
22 Dec'175.81K+
How Big Data and Machine Learning are Uniting Against Cancer
Cancer is not one disease. It is many diseases. Let us understand the cause of cancer by a simple example. If you take a photocopy of a document, due to some issues, other dots or smears appear on it even though they are not present in the original copy. In the same way, in gene replication processes, errors occur inadvertently. Most of the time the genes with errors will not be able to sustain and will ultimately perish.
In some rare cases, the mutated gene with mistakes will survive and get further replicated uncontrollably. Uncontrollable replication of mutated genes is the primary cause of cancer. This mutation can happen in any of the twenty thousand genes in our body. Variation in any one or a combination of genes makes cancer a severe disease to conquer. To eradicate cancer, we need methods to destroy the rogue cells without harming the functional cells of the body; which makes it doubly hard to defeat.
Cancer and its complexity
Cancer is a disease with a long tail distribution. Long tail distribution means there are various reasons for this condition to occur and there is no single solution for eradicating it. There are diseases which affect a large percentage of the population but have a sole cause of occurrence. For example, let us consider Cholera. Eating food or drinking water contaminated by the bacterium Vibrio Cholerae is the cause of cholera. Cholera can occur only because of Vibrio Cholerae, and there is no another reason. Once we find out the only cause of a disease, then it is relatively easy to conquer it.
What if a condition occurs because of multiple reasons? A mutation can occur in any of the twenty thousand genes in our body. Not only that, but we also need to consider their combinations. Cancer may not just happen because of a random mutation in a gene but also because of a combination of gene mutations. The number of causes for cancer becomes exponential, and there is no single mechanism to cure it. For example, a mutation of any of these genes ALK, BRAF, DDR2, EGFR, ERBB2, KRAS, MAP2K1, NRAS, PIK3CA, PTEN, RET, and RIT1 can cause lung cancer. There are many ways for cancer to occur and that’s why it is a disease with long tail distribution.
In our arsenal for waging this war on cancer and conquering it, big data and machine learning are critical tools. How can big data help in fighting this war? What does machine learning have to do with cancer? How are they going to help in fighting a disease with many causes, a condition with a long tail distribution? Firstly, how and where is this big data generated? Let us find answers to these questions.
Gene Sequencing and explosion in data
Gene sequencing is one area which is producing humongous amounts of data. Exactly how much data? According to the Washington Post, the human data generated through gene sequencing (approximately 2.5 lakh sequences) takes up about a fourth of the size of YouTube’s yearly data production. If all this data were combined with all the extra information that comes with sequencing genomes and recorded on 4GB DVDs, it would be a stack about half a mile high.
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The methods for gene sequencing have improved over the years, and the cost for the same has plummeted exponentially. In the year 2008, the cost of gene sequencing was 10 million dollars. As of today, it is only a 1000 dollars. In the future, it is expected to reduce further. It is estimated that one billion people will have their genes sequenced by 2025. So, within the next decade, the genomics data generated will be somewhere between 2 – 40 exabytes in a year. An exabyte is ten followed by 17 zeros.
Before coming to how data will help in curing cancer, let us take one concrete example and see how data can help in conquering a disease. Data and its analysis helped in finding out the cause of one infectious disease and fight it, not now but in nineteenth-century itself! Yes, in the nineteenth century! The name of that disease is Cholera.
Clustering in the Nineteenth Century – the Cholera breakthrough
John Snow was an anesthesiologist and cholera broke out in September 1854 near Snow’s house. To know the reason for cholera, Snow decided to note the spatial dimensions of the patients on the city map. He marked the location of the home address of patients on London’s city map. With this exercise, John Snow understood that people suffering from cholera were clustered around some specific water wells. He firmly believed that a contaminated pump was responsible for the epidemic and against the will of the local authorities replaced the pump. This replacement drastically reduced the spread of cholera.
Snow subsequently published a map of the outbreak to support his theory, showing the locations of the 13 public wells in the area, and the 578 cholera deaths mapped by home address. This map ultimately led to the understanding that cholera was an infectious disease and quickly spread through the medium of water. John Snow’s experiment is the earliest example of applying the clustering algorithm to know the cause of illness and help eradicate it. In the nineteenth century, John Snow could apply clustering algorithm on a London city map with a pencil. With cancer as the target disease, this level of analysis is not possible with the same ease as John Snow’s Analysis. We need sophisticated tools and technologies to mine this data. That is where we leverage the capabilities of modern technologies like Machine Learning and Big Data.
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Big data and Machine learning – tools to fight cancer
Vast amounts of data along with machine learning algorithms will help us in our fight with cancer in many ways. It can help us with diagnosis, treatment, and prognosis. Mainly, it will help customise the therapy according to the patient, which is not possible otherwise. It will also help deal with the long tail of the distribution.
Given the enormous amounts of Electronic Medical Records (EMR), data generated and recorded by various hospitals; it is possible to use ‘labelled’ data in diagnosing cancer. Techniques like Natural Language Programming (NLP) are utilised for making sense of doctor’s prescriptions and Deep Learning Neural Networks are deployed to analyse CT and MRI scans. The different types of machine learning algorithms search the EMR databases and find hidden patterns. These hidden patterns will help in diagnosing cancers.
A college student was able to design an Artificial Neural Network from the comfort of her home and developed a model that can diagnose breast cancer with a high degree of accuracy.
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Diagnosis with Big Data and Machine Learning
Brittanny Wenger was 16 years old when her older cousin was diagnosed with breast cancer. This inspired her to make the process better by improving the diagnostics. Fine Needle Aspiration (FNA) was a less invasive method of biopsy and the quickest method of diagnosis. The doctors were reluctant to use FNA because the results are not reliable. Brittanny thought of using her programming skills to do something about it. She decided to improve the reliability of FNA which would enable the women to choose less invasive and comfortable diagnostic methods.
Brittanny found public domain data from the University of Wisconsin that included Fine Needle Aspiration. She coded an Artificial Neural Network (ANN) which is inspired by the design of human brain architecture. She used cloud technologies to process the data and train the ANN to find the similarities. After many attempts and errors finally, her network was able to detect breast cancer from an FNA test data with 99.1% sensitivity to malignancy. This method is applicable for diagnosing other cancers as well.
The accuracy of diagnosis is dependent upon the amount and quality of the data available. The more the data available, the more the algorithms will be able to query the database, find similarities and come out with valuable models.
Treatment with Big Data and Machine Learning
Big data and Machine learning will be helpful not only for diagnosis but treatment as well. John and Kathy were married for three decades. At the age of 49, Kathy was diagnosed with stage III breast cancer. John, CIO of a Boston hospital helped plan her treatment with the help of big data tools that he designed and brought into existence.
In 2008, five Harvard affiliated hospitals shared their databases and created a powerful search tool known as ‘Shared Health Research Information Network’ (SHRINE). By the time of Kathy’s diagnosis, her doctors could sift through a database of 6.1 million records to find insightful information. Doctors queried ‘SHRINE’ with questions like “50-year-old Asian women, diagnosed with stage III breast cancer and their treatments”. Armed with this information doctors were able to treat her with chemotherapy drugs by targeting the estrogen-sensitive tumour cells by avoiding surgery.
By the time Kathy completed her chemotherapy regimen the radiologists could no longer find any tumour cells. This is one example of how big data tools can help in customising the treatment plan according to the requirement of each.
As cancer is a long tail distribution a ‘one size fits all’ philosophy will not work. For customising treatments depending on the patient’s history, their gene sequence, results of diagnostic tests, a mutation found in their genes or a combination of their genes and environment, big data and machine learning tools are indispensable.
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Drug Discovery with Big Data and Machine Learning
Big data and Machine learning will not only help in diagnosis and treatment but also will revolutionise drug discovery. Researchers can use open data and computational resources to discover new uses for the drugs which are already approved by agencies like FDA for other purposes. For example, scientists at University of California at San Francisco found by number crunching that a drug called ‘pyrvinium pamoate’ which is used to treat pinworms – could shrink hepatocellular carcinoma, a type of liver cancer, in mice. This disease which is associated with the liver is the second highest contributor to cancer deaths in the world.
Not only is big data used for discovering new uses for old drugs but can also be used for detecting new drugs. By crunching data related to different drugs, chemicals, and their properties, symptoms of various diseases, the chemical composition of the drugs used for those conditions and side effects of these medications collected from different media; new drugs can be devised for various types of cancer. This will significantly reduce the time taken to come up with new medicines without wasting millions of dollars in the process.
Using big data and machine learning will no doubt improve the process of diagnosis, treatment and drug discovery in treating cancer, but it is not without challenges. There are many stumbling blocks and problems on the road ahead. If these blocks are not removed, and these challenges are not faced, then our enemy will get the upper hand and will defeat us in the future battle.
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Challenges in using Big Data and Machine Learning to fight Cancer
Digitisation
Except for a few large and technically advanced hospitals, most of them are yet to be digitised. They are still following the old methods of capturing and recording data in massive stacks of files. Due to lack of technical expertise, affordability, economies of scale and various other reasons, digitisation has not taken place. Provision of open source EMR software, teaching how helpful these digital records could be in treating the patients and how profitable it is to the hospitals are some steps in the right direction.
Data locked in enterprise warehouses
As of today, only a few hospitals can digitally capture patient records. This apparatus too is locked away in enterprise warehouses and inaccessible to the world at large.
Hospitals are reluctant to share their databases with other hospitals. Even if they are willing, they are plagued by the different database schemas and architectures. Critical thinking is required on this front about how hospitals can share their databases among themselves for their mutual benefit without being suspicious of each other. A consensus needs to be reached about the schema in which this data should be shared as well, for the benefit of all hospitals. This patient data should be democratised and utilised for the betterment of the future of mankind.
Patient data should not be allowed to be employed for the growth of a single organisation. Utmost care should be taken to anonymise the individual to whom the data belongs. If a person’s lipstick preference is leaked, then there is not much harm. If a person’s medical history is leaked, then it will have a significant impact on his life and prospects.
The government should take positive steps in this direction and should help create a big data infrastructure for storing medical records of patients from all hospitals. It should make it compulsory for all hospitals to share their database within this shared infrastructure. Access to this database should be made free for patient treatment and research.
Improvement in efficiency of Machine Learning Algorithms
Machine learning is not a magic pill for cancer diagnosis and treatments. It is a tool that if used well can help in our journey to conquer cancer. Machine learning is still in a nascent stage and has its disadvantages. For example, the data on which these algorithms are trained needs to be very close to the data on which they are utilised for producing results. If there is a huge difference in them, then the algorithm will not be able to provide meaningful results which can be employed.
There are many machine learning algorithms which exist with their own peculiar assumptions, advantages, and disadvantages. If we can find a way to combine all these different algorithms for achieving the results required by us, i.e. curing cancer, needless to say, we would have found a hugely beneficial outcome. The famous machine learning scientist Pedro Domingos calls it “The Master Algorithm”, who also wrote a popular science book of the same name.
According to Pedro, there are five different schools of thought in machine learning. The symbolist, connectionist, Bayesian, evolutionaries and analogisers. It is difficult to go into all these different types of machine learning systems in this article. I will cover all the five types of machine learning systems in one of my future blogs. For now, we need to understand that all these different methods have advantages and disadvantages of their own. If we can combine them, then we can derive highly impactful insights from our data. This will be immensely useful not only for all kinds of predictions and forecasts but also for our fight against a vengeful enemy – cancer.
To summarise, cancer is a formidable enemy which keeps changing its form frequently. We do possess new weapons in our arsenal now in the form of big data and machine learning, however, to face it competently. But to demolish it entirely we need a more powerful weapon than what we presently possess. The name of that weapon is ‘The Master Algorithm’.
We also need to make some changes in the strategies and methods with which we are fighting this enemy. These changes are creating a big data infrastructure, making it compulsory for hospitals to share anonymised patient records, maintaining the security of the database and allowing free access to the database for patient treatment and research to cure cancer.
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Wrapping up
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Read More08 Jan'18
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Piyush Kumar of MakeMyTrip explains Big Data Operations
Piyush Kumar is the Head of Data Platform Engineering at MakeMyTrip. He heads the Data team (Data platform, Data Science, and Business Intelligence functions) at MakeMyTrip to support various Lines of Business such as Flights, Hotels, Holidays, and Ground. Along with defining Big Data strategy, he looks after designing and building a scalable and distributed machine learning platform for Big Data systems with real-time streaming and batch processing for Clickstream, Mobile, Transactional, CRM (Customer relationship management) & user feedback or reviews data.
In an exclusive interview, Piyush provides valuable insights to UpGrad about how MakeMyTrip has leveraged Big Data, in line with current trends, to upgrade and enhance its product offerings.
In this first video, Piyush talks about how MakeMyTrip uses Big Data to solve critical business problems in the area of customer segmentation, personalisation, building data pipelines, etc. He also explains the architecture of the Big Data system at MakeMyTrip.
In the second video, Piyush shares insights on career planning for Big Data enthusiasts highlighting different career paths available in Big Data and the necessary skill sets required.
So, Piyush spoke about how MakeMyTrip uses Big Data in their operations. He provided valuable insights to UpGrad about how MakeMyTrip is leveraging Big Data, in line with current trends, to upgrade and enhance its product offerings. He shared insights on career planning for big data enthusiasts highlighting the necessary skill sets required.
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The Business of Data Security is Booming!
This is an excerpt from the book ‘Breach: Remarkable Stories of Espionage and Data Theft and the Fight to Keep Secrets Safe’ by Nirmal John. Nirmal John has worked in advertising and journalism. He was earlier the assistant editor of Fortune.
This book brings to light several incidents which till now were brushed under the carpet. It has instances of piracy, data theft, phishing, among many others. Even though he focuses on India, Nirmal John takes great pains to show links between underground international networks working to undermine data security. This excerpt has been taken from the chapter, ‘WHITE HAT Is GrEEnBACK’. This excerpt throws light on the normal routine of Saket Modi, a young CEO of a data security company, Lucideus.
Fear. Urgency. Desperation. Panic. The themes that dominate that call for help are almost always the same. Pretty much everyone working in the cybersecurity business knows what it is to get that call, especially in the middle of the night. There used to be a time when break-ins were reported first to the police. But with the crime itself changing in nature, the way it is reported is changing too. The cops aren’t in control when it comes to new-age crime and theft of data. Dialling 100 may not get you far when it comes to data breaches.
Saket Modi has been receiving these calls for a few years now. Modi is a baby-faced young man in his twenties who boasts an easy charm. His company is named Lucideus. It is a mash-up of two names from the ancient scriptures— Lucifer, the Latin word which came to be used to describe the devil, and Zeus, the supreme Greek deity who, among other things, dispensed justice.
The mash-up is meant to be a reference to how the ‘bad’ and the ‘good’ come together online. Modi’s earlier office in Safdarjung Development Area market near IIT in Delhi was small and tastefully appointed in white (perhaps to accentuate the idea of the white hat hacker). He has since moved to a new, much larger space in Okhla, still tastefully appointed, still in white.
He started out when he was in his teens, helping companies investigate breaches and shore up their cybersecurity. His carefully constructed reputation as a young white hat hacker brought him many projects over the years. These days he is among those advising the Government of India on matters of cybersecurity.
Most of his projects for companies started with a call from a panic-laden voice. Modi particularly remembers one call from nearly five years back. It was the chief executive of one of India’s largest services companies at the other end of the line. The CEO introduced himself. He had met Modi on the sidelines of a conference; they’d exchanged visiting cards, and the chief executive had fished out Modi’s card to call him.
‘We think we are in major trouble. How quickly can you fly to Bengaluru?’
Modi was used to such requests from panic-stricken executives. He asked for a bit more context on what exactly had gone wrong.
‘The CEO of one of my top five clients, who is a huge name internationally, called me earlier today. He asked me to immediately stop all the operations I was doing for his company. He didn’t explain why. He just said that he will be calling me later to explain further.’
This was a client that contributed a very significant chunk to the Indian company’s top line. There were hundreds of employees from the Indian company working on the client’s projects.
‘I suspect there has been a breach, because of which all this could be happening. There are a few other things that would explain this reaction from the client. The truth is, I can’t afford to lose this client under any circumstances,’ the executive confessed.
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Saket Modi took the next flight to Bengaluru.
It was when he reached the office of the chief executive that Modi realized he wasn’t the only one who had got a call from him. There, sitting in the conference room and waiting to be briefed, were cyber-forensics experts from big accounting firms and other security researchers like himself.
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Even though this was par for the course when it came to how Indian companies reacted in such situations, Modi says he was taken aback. He says this has become a common practice when it comes to investigating breaches—the targeted company invites the names known to have cyber- forensics experience for a briefing post an incident and then gives the job to whoever bids the lowest. The question he asks is whether matters of security can be treated like other supplier relationships, especially in a crisis situation?
This is probably how things work in many Indian corporations but, as he points out with evident displeasure, that is not how security and breach protocol should roll, particularly in a crisis situation. ‘security is not an L1 business.’
The chief executive briefed the gathering about the situation. There had indeed been a breach. He was looking for partners who could immediately deploy resources to find the vulnerabilities that had led to the breach and could help plug them. That was the only way he could convince the client not to terminate the contract.
Modi ended up with the project even though his quoted fee was high. He flew in his team from New Delhi and, during the investigation, found several vulnerabilities in the organization that had resulted in the breach.
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The team started by pouring over the access logs which list the requests for individual files from a website. They then isolated the sectors which were compromised and sandboxed them. That meant that they used a separate machine, not connected to the company’s main network, to run programmes and test the behaviour of the malicious code.
The idea behind doing this was to deduce if there were patterns in the type of data that was being compromised. If they could unearth a pattern, it could theoretically lead them to the hacker.
Unfortunately, as in many such instances, Modi says, he couldn’t identify the source of the breach as its origins were from beyond Indian borders and hidden in a complex trail of IPs. His team couldn’t definitively pinpoint the location, but they pushed the chief executive and his company to shore up every single facet of its security protocol.
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The client continued the shutdown of the handling of his operations by the Indian company for a month, while Modi and his team worked on overhauling the Indian company’s security system. A month later, Modi had a call with the CEO of the company’s international client to detail the steps they had taken to make sure that breaches such as the one that had happened would not recur. Later, the client sent a team to audit the changes, and only when it was satisfied did the client allow the company to resume work on its projects. It cost the Indian company thousands of billable hours, not to mention damage to their standing in front of the client.
If you like this excerpt and want to read real-life thriller stories full of hackers, police, and corporates, you can read the book; ‘Breach’ by Nirmal John.
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Conclusion
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01 Feb'185.6K+
Big Data: What is it and Why does it Matter?
If you’re a complete newbie in the world of Big Data, the term itself might be slightly confusing. Before we move to the technicalities, let’s ask two essential questions:
How big?
What data?
The answer to the first question isn’t fixed – it would’ve changed by the time you’d have completed reading this line. For all we know, by the time you’ve read through the article, the total amount of data in the world would have soared by quite a bit. According to IBM, we create roughly 2.5 quintillion bytes of data per day – To put things in perspective, that is the capacity you’ll need to hold around 530,000,000 MP3 songs. Look at that number again, there are quite a lot of zeros in there.
Now, let’s talk about the “what”. What data is this?
It’s almost like the famous song by The Police, which goes something like…
“Every breath you take, every move you make, every bond you break, every step you take, I’ll be watching you.”
And that’s what they’re doing. By they, we simply mean the ones who’re in charge of collecting this data. Everything you do on the internet is adding to this colossal mountain of data. Your Facebook posts, Tweets, Snapchat stories, and whatever the kids are using these days – are just bricks in the huge wall of Big Data.
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So, to answer your second question – the data in question is the very data you’re producing every passing moment. Every time you book a cab, or order food online, or even do a very basic google search – It’s all going on top of the heap. Everything is being collected. That’s what is making this big data, bigger – every passing minute.
Now that you’re in control of the situation, let’s dive a little deeper into the ocean of Big Data. Further, we’ll look at why exactly does Big Data matter so much, and who’re the ones benefiting from it?
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What is Big Data?
By now, we’re clear that Big Data is just an extremely large volume of data – both structured and unstructured – collected through a variety of sources and in a variety of formats. For the sake of a formal definition, you can have a look at how IBM defines “Big Data”:
According to the data scientists at IBM, Big Data can typically be characterized by 4 V’s – Volume, Variety, Velocity, and Veracity.
Volume
Very simply, volume means how “big” the Big Data is. Like we said earlier, there’s no specific number to it, it’s ever-increasing.
Variety
The data we’re talking about comes from a number of sources, hence it is in numerous formats. We’re talking about data in the form of audio, video, pdf, email, and more! Most of this data is unstructured – implying not much sense can be made out of it without a proper study.
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Velocity
The flow of Big Data from the variety of sources we discussed above is massive and un-ending. Like we said, by the time you’ve read this article, the amount of Big Data in the world would have increased drastically. If you don’t believe us, listen to the guys at IBM who claim that by 2020, there’ll be 5,200 GB of data for each and every person on Earth. Yeah, talk about velocity!
Veracity
Veracity in context of Big Data simply refers to the noises and anomalies present in the data. When dealing with Big Data, veracity is one of the biggest challenges that data analysts face.
By now, it’s clear that there’s a lot of data around us, almost too much to even think about! Making sense of this data is quite a daunting task in itself. For this, we have data analysts – the heart and soul of any organization’s analytics team – but how exactly do businesses use data to power their operations? Let’s see.
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Big Data matters – but why?
The organizations which earlier had to rely on the data collected through archaic spreadsheets now have access to tonnes of data on their customers. Data that can be used to overhaul their business and make profits like never before.
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Sherlock Holmes puts it right –
“It’s a capital mistake to theorize before one has data!”
And today, businesses HAVE data – a lot of it. But how exactly does it help them?
By carefully examining the data at hand, organizations are performing the following kinds of intricate analytics to gather actionable insights and perform better in the market:
Social listening
It gives the organizations the power to know the real-time feedback of their consumers. The days of polls or surveys are long gone – sentiment analysis provides much more comprehensive and actionable feedback. Tools like HootSuite, TweetReach, Klout, and BuzzSumo are just a few examples of social listening tools that help the organizations stay a step ahead by knowing what the consumers have to say, their sentiments, and feedback.
Comparative analysis
Thanks to Big Data, organizations can now compare their products, services, and overall brand image with their competitors by examining user-behavior metrics in real-time.
Marketing analytics
This helps organizations in promoting new products and services to the target audience in a much more informed and innovative way. There are various sophisticated tools dedicated to Marketing Analytics which help organizations keep a close eye on how their product is being received in the market. Some common tools for this include – Marketing Evolution, Predictive Modeling, Lattice Engines – all of which aim to improve the organization’s ROI by leveraging Big Data.
Targeting
Using this stream of Big Data analytics, organizations can dive into social media activity on any subject, based on a variety of sources, all in real-time. For example, let’s say you want to target specific customer groups and provide them with exclusive special offers – you can do that now, using Big Data. It’s a win-win situation for both the organization as well as the customers. The same tools as the ones discussed in Social Listening can be used for this purpose as well.
Customer satisfaction
Organizations can boost customer engagement manifold by analyzing Big Data from a multitude of sources. Also, using these metrics, they’re able to figure out, and eventually iron out any potential customer issues that might go viral – preserving brand loyalty and improving customer service, at the same time.
Who’s using Big Data – Real-world applications
It’s safe to say that no domain of business today is untouched by the magic that is Big Data. From banking, to healthcare, to social-media, to education, to even government sectors – the list can go on – everyone is trying their best to make sense of the data at hand and outperform their competition.
Let’s see some major industries that are affected by the giant that is Big Data:
Healthcare Providers
Asia’s largest healthcare group – Apollo hospitals – is using Big Data and analytics to control HAI (hospital-acquired infections).
Education
Big data is used quite extensively to improve higher education. Take the example of the University of Tasmania. It has deployed a management system that tracks things like the time at which a student logs on to the system, time spent on different pages of the system, and even the overall progress of the student.
Government Operations
Big Data has a wide range of applications in government operations and services. They include energy exploration, fraud detection, environmental protection, financial analysis, and health-related research.
We can go on and on about each and every industry, but we think you get the gist. Big Data analytics is being used wherever it is possible. And frankly, there’s no domain that can’t use a little data analytics to improve their operations. Because at the end of the day, data is all that’s there, and all there will ever be.
To wrap things up…
It’s safe to say that Big Data is not just a fad – it’s a revolution. It’s always better to stay on your toes when you’re in the middle of a revolution, or you’ll be left behind before you know it. What makes one particular organization stand out from the rest is the way they deal with their data. Having said that, it’s only fair to conclude by saying that the demand for good data scientists is, and will keep on, increasing.
So, buckle up while you can, and get started with exploring the mad but genius world of Big Data!
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