How does big data impact decision making

The world churns out data at an exponential rate, every interaction, communication, and choice that you undertake in your technology-driven life is getting stored in the form of structured or unstructured data. This data can tell stories about you.

Various companies that wish to sell their products or services to you can know you at a more personal level and create the best possible experience for you. This is what big data analytics is mostly about and it happens in real time nowadays.

Big data influencing decision making

If you think about it we practice data analysis at every point in our daily lives. Suppose you buy some snack and keep some part of it for consuming later. But later you find that it has gone stale. You will probably keep it in the refrigerator the next time. This is a simple instance of how decisions can be influenced by historical experience. Only in case of big data analytics, the stakes are much higher than a piece of snack and the experience is encoded through data. Every profitable decision today has ample amount of analytics work behind it.

The popular big data tools

The first name that comes into the mind is of course,

Apache Hadoop. The Hadoop software suite, with tools like HDFS, HBase, MapReduce, Hive, Pig, etc. had really started off the big data bandwagon. Now there are tonnes of different tools but every big data course still begins with Hadoop and that is for a reason.

Spark is another tool that has earned quite a name for itself over the years. Today, Spark is used along with Python to build machine learning algorithms and AI systems.

R and NoSQL are other tools you can opt to learn as part of your analytics education.

 

Real life instances of big data implementation

The top industries where big data technology is being used are:

  • Retail

This is the industry that is completely driven and dependent on consumer satisfaction. By implementing the predictive analysis feature of big data, retailers are able to understand consumer demands, which help to retain customers for an extended period of time. By profiling customers using big data analysis, manufacturers could understand the demand for the various products and could stock it accordingly. Big data has also emerged as the biggest strength in designing marketing strategies.

Education

The education institutes are benefiting greatly from the application of data-driven strategies. Decisions regarding syllabus, curriculum, testing systems, and career guidance are taken in light of the insights begotten by big data analytics.

Public sectors like financial institutes and administrative departments depend on big data to reduce risk and to increase efficiency.

Conclusion

We have seen the impact that big data has on the world and the initial apprehension that was seen in the Malaysian market regarding this new technology is dissipating. Big data courses are gaining popularity with many graduates and working professionals too, who are opting for it for the betterment of their career.  Big data courses makes you industry ready and opens door to career across industries and anywhere in the world.

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