Grow Your Business with WebRTC App Development
05 Mar 2021
Last Updated: 08 Feb 2019 | 5 min read
We don’t realize or recognize, but we are surrounded by, floating in a pool of massive data stream. Yes, due to digitalization, the sheer volume of the data is touching the sky. There is a massive amount of data is generated, originating from multiple digital resources.
As the world was recently encountered with a story of how social media and networking giant Facebook and other internet companies are using the data they collect in various form from their users or visitors. We are going to further see how data collection comes in correlation with different aspects of one’s life. It might come as a surprise to you but data analysis can shed light on a number of areas of your life that are touched by ‘Big Data and its aspects’.
We all shop or browse for products online that we want. Every online shopping site collects the data from your browsing history of the site about the product or your search to present you with the targeted ads as a way of reminding you to purchase the product which you added in the cart but didn’t complete the transaction.
Google, the search engine for everything analyzes your history and serve you with relevant ads of the things you have been looking online. Similarly, Facebook does the same, when you boost a post about going to an event or concert, you may start seeing the ads of similar kind of events in your area. Data is collected and analyzed of our activity from all the sources to sell us products or services right when the data predicts we will be most likely to purchase items.
Banks and other financial institutions get a lot of helping hand by analyzing Big Data about a customer. In fact, these organizations have to use big data to keep a customer’s financial information safe and secure. They can spot if the new purchase on your credit card is really made by you by analyzing your past spending behavior. That is why if you purchase a product that is of high value or your card gets rigorously swiped at non-familiar places, you’ll get a call from your creditor to ensure that it is a valid transaction in place. Most banks can spot identity theft and take preventive steps before even you realize it. Say, for example, you are not a regular restaurant-going person or doesn’t like outside food and your card suddenly shows purchases at a few fancy restaurants around the town, the bank will notice something suspicious. In such a scenario, they will contact the customer to find out the authenticity of the transaction to make sure that the card isn’t lost or stolen and might need to freeze it or replace it.
The entertainment industry is also not behind when it comes using big data to analyze user behavior and present them with relevant search results. For example, if you are watching your favorite show on Netflix which utilizes an algorithm to present you with recommendations about another shows that you may like based on your watched shows history.
If you are watching a lot of drama series then soon all of your feed will be showing you new drama series because the algorithm knows that you like drama. The same goes for any online streaming music app, which will initially style cast your music genres such as jazz or rock and then simultaneously will shower you with similar recommendations.
Big Data also helps police officers to locate and pinpoint where they might be needed most based on a situation. It can help the department to put an extra task force and deploy additional officers to cover an area to prevent crimes before they happen.
Big Data also plays a major role in securing household via home security and alarm system. These installed systems are connected to the database of operators who can quickly analyze any breach in the security of the system and alerts you whether you are present there or away. Few of the added security benefits is that some system even allows setting your daily home activities routine and follow such as turning on lights and TV as specified time while being away from the home or town.
It is quite clear now that, companies are using the data in multifarious ways that impact a user’s everyday life. This is only going to grow further with personality, habits and user behavior changing which will be analyzed by algorithms specifically designed to understand and predict our choices and selection. Big Data has also unearthed the relativeness in every industry segment and its users starting from business development to athletes to the education industry. Keep following our blog wherein next we will present you with Big Data and its impact on various industry sectors. Being a top mobile app development company with close to 9+ years of experience, we are constantly involved in researching, developing and delivering cutting-edge solution regarding the upcoming and trending technology and its aspects.
05 Mar 2021