Big data – what’s so big about it?

The data footprint that you leave behind can tell more about you than your spouse! Well, this is not some weird statement but it’s a fact. Let’s read how!

 

Big data is the big brother

In today’s digital world, the digital footprint that we are creating and leaving behind is creating our digital identity. Practically everything is now a days online.

Thank of the information you have across sources like Facebook, LinkedIn, Twitter, WhatsApp, Google and more. It can practically tell everything about you, your personality and your likes and dislikes.

Add to it the card transactions you do at merchant outlets and online sites. The information we leave behind can really make a personal, professional and financial portfolio of the person. The world of data is equally exciting and scary!

Companies are taking advantage of the big data

Companies are investing time, money and efforts to do customer sentiment analysis, transaction analysis and purchasing analysis to predict pretty much accurately what you are likely to do next and prepare themselves accordingly.

One of the finest example of this phenomenon is the patent filed by Amazon for ‘shipping your package before you buy’ or ‘anticipatory shipping’. (Link – http://pdfpiw.uspto.gov/.piw?Docid=08615473).

The patent emphasizes on a growing trend among technology and consumer electronic and retail firms to anticipate consumers’ needs, even before consumers do. Today, there are refrigerators that can tell when it’s time to buy more milk and cheese, smart televisions that predict which shows to record and Google ‘s Now software, which aims to predict users’ daily scheduling needs.

Internet is going beyond traditional devices

With internet of things catching up, the access to data and our interaction with the data is going beyond the traditional devices such as laptops, smartphones and it will continue to do so for significant future. It will be on your refrigerator, television, heaters, air conditioners, cars, lights and many more such devices which traditionally only had been utility devices.

Think of the amount of that data it will generate and also the opportunities it will create to make ‘smart lives’

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