Last updated on March 21st, 2024 at 05:43 am
What is Big Data?
We are living in an era where we consume data more than anything, be it food or water or even electricity. If you use technology to help yourself in your day to day chores or if surfing the internet to find information for your purpose is an on-going thing, you are one of the beneficiaries of the big data.
So what exactly is the big data? In the most basic sense, big data can be understood as the collection of data that is extremely large in size and is accumulated on a continuous basis.
If we go by the general definition of it, the big data is an industry that deals with systematic extraction and storage of information in the form of data from various data points; it also helps to perform complex analysis of extremely large data sets.
The data stored is used to perform analysis to identify patterns, trends or establish association and relationship among different variables especially relating to human behavior and interactions. Examples of some big data sets include data generated by the stock exchanges, social media sites, etc.
Many big corporations are using big data today to gain customer insights and design their policies and price their products accordingly to gain maximum output from their investment on customer acquisition and other areas.
Big data analytics as a career option
In the contemporary world data is the fuel for exponential growth. Corporations today use data in conjunction with other progressive technologies like the machine learning and artificial intelligence to help process large piles of information and gain valuable insights from the same. The new technologies not only help to do too much in too little time but it also minimizes the chance for random human error, which is very likely when dealing with an extremely large amount of data set.
Since the big data is a fairly new field, very little is known about the career options and the work required to build a career in the domain. If we were to compare it with traditional occupations that are held in high regard, data analysts have a similar role to play as the doctors in our lives. Basically, they are the doctors for data, who help to analyze and scrutinize data and find any anomalies if they exist.
The most important factor why big data analytics is a good career option can be understood through the lens of general economics.
At present the demand for data analytics professionals in the industry is higher than the labor supply for the same, this means that it’s not only a growing field but also the one with higher perks and remuneration.
According to IBM reports the jobs in the data industry in the US alone will increase to 2720000 by 2020, higher than the current supply of professionals in the field. A career in big data is the most sought after especially in the developed economies.
According to sources, the current size of the analytics market is around one-tenth of the global IT market and is assumed to grow and become one-third of the global IT market in the coming years, another reason why it’s a good career move.
The number of job posting on some of the reputed job portals has also shown a significant increase from the previous year indicating high growth in the field.
Big data analytics adoption is growing with the minute, another important indicator that favors the career move in the data industry is the increase in companies that are adopting big data analytics to improve their day to day functioning and cut their costs on futile marketing and advertisement.
The use of big data helps to make things more contextual for the customers and optimize the output and price for the brand in the process. The big data course is designed to help develop a comprehensive understanding of the subject and is beneficial for those who are eying for a career in this field.
