Data is the real currency: Big data
When everybody is talking about data and personal getting breach we should really worry about our data. Giant companies are being held responsible for breaching data recently, connecting to the word “data” I recall the word “Big data” that has been addressed a few years ago. Apart from breaching we should also care about the amount of data we are creating daily. As from source, we create 2.5 quintillion bytes of data every day and these amounts of data bring a lot of impact as per its utilization in both terms either useful or being misused.
As the data really have the potential to revolutionize the trends in many beneficial ways. Again, it mainly depends on how we are using the data or misusing it. I would like to take the focus on the benefits as of how the data can be beneficial to us. Still, we are just scratching the data from the surface as there is much to achieve yet. The reason is that big data is not only beyond the traditional data-processing but also our scope. Big data definition is been defined by the “3 Vs” that is volume, velocity, and variety.
The “3 Vs” is not just to be known as the defined parameter but these parameters define the illustration we need to understand. As its just not the volume of information that describes big data but the velocity at which it is arriving and thus many different categories. The data is been increasing from yesterday to today and will increase more tomorrow. For example, the smart wearable watches they not only show the time but also collects all the details related to your health and daily habits.
In the digital era, you are smart when you know how to play with your data as businesses are relying more on the data they collect about their customers and so this is a smart move. The giant companies like Facebook, Uber, Google, etc. are more into how they can use the data they collect and what business they can produce out from it. There always been a contradiction at the point how they do which makes a confusing sketch even for the users, thus it could be a more complex value exchange than traditional commerce. They got the smartest move out from the data they collect.
Data is the real currency for these companies where they collect data about their users and how smartly they utilize it again for us. In general, we never want to share any of our personal details to any third person than just give a thought about sharing it with third parties, again you can’t give a thought the data is been utilized on yourself. Though it can’t be appreciated either what if it is for your benefit.
This was just a small shot on how the data is the currency for the future. Over the next coming years, the amount of importation we are sharing is going to grow exponentially. Looking at the points the data can potentially benefit from collecting the right data and analyzing it. IoT devices would be the perfect example of the potential data and how the industries are using them and getting benefits.
Big data is not only big but huge and so is the data and still there is a lot to get into and utilize them.