According to market intelligence company IDC, the ‘Global Datasphere’ in 2018 reached 18 zettabytes. This is the total of all data created, captured or replicated. (Not all of this data is being stored and kept, though.)
The vast majority of the world’s data has been created in the last few years and this astonishing growth of data shows no sign of slowing down. In fact, IDC predicts the world’s data will grow to 175 zettabytes in 2025.
Data you generate everyday!
- Twitter users sent 473,400 tweets
- Snapchat users shared 2 million photos
- Instagram users posted 49,380 pictures
- LinkedIn gained 120 new users
And this is only by the social media platform, IOT, WOT, AI/ML are yet another fields of technology which produces a vast amount of data every minute. Thus creating a whole structured and unstructured chunks of data.
Now days many devices are turning into smart devices communication is happening between these devices, AI plays a yet important role learning from these data and giving the impact of it in the field of technology.
Sectors like Healthcare, Retail, Manufacturing, Finance are making the use of Big Data, but how !
Big data in healthcare is transforming the way we identify and treat illnesses, improve quality of life and avoid preventable deaths. The drive now is to understand as much about a patient as possible, as early in their life as possible — hopefully picking up warning signs of serious illness at an early enough stage that treatment is far simpler, and less expensive.
The way we buy and sell is evolving fast. Both online and offline, those retailers that are embracing a data-first strategy towards understanding their customers, matching them to products and parting them from their cash are reaping huge rewards.
This means that data analytics is now being applied at every stage of the retail process — working out what the popular products will be by predicting trends, forecasting where the demand will be for those products, optimizing pricing for a competitive edge, identifying the customers likely to be interested in certain products, working out the best way to approach those customers, taking their money and, finally, working out what to sell them next.
Data plays a hugely important role in modern manufacturing processes. Advances in robotics and increasing levels of automation are dramatically changing the face of manufacturing. Adidas is one big name investing heavily in automated factories, for example.
Even in a more traditional manufacturing environment, data is still making its mark. By embedding sensors into their equipment, manufacturers are capturing valuable data that helps them monitor the health and efficiency of those machines. Sensors are also increasingly being installed into a wide range of products, from jet engines to yoga mats, allowing manufacturers to gather valuable data on how those products are performing and being used.
The applications of data go far beyond high-tech, big-money trading. For example, data is helping credit card companies like American Express detect fraudulent transactions and expand into trend analysis services for businesses.
In insurance, data is already being used to help insurers set fairer and more accurate policy premiums, identify fraudulent claims and improve their marketing efforts. Companies like Progressive and Aviva are taking data collection a step further by offering discounts to drivers who allow them to monitor their driving via smart phone apps and in-car devices, allowing the insurer to observe how safe a person’s driving really is.
Companies like Google, Facebook, Amazon, Apple and other big tech firm are dominating the market and govern the majority of the share in the technology.
Need of Decentralized Network
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