What is Big Data?

In this Digital Era, data sharing on Digital platforms is increasing rapidly. We generate data whenever we go online, when we carry our GPS-equipped smartphones, when we communicate with our friends through social media or chat applications, and when we shop.

Source: smartdatacollective.com

Organizations collect, store and analyze this massive amount of data and use it for various purposes. This massive amount of data is nothing but Big Data.

Big Data is such a powerful asset that it could predict the hurricane's landfall five days in advance.

The picture below shows how much data is being generated every minute on the internet.

Source: YouTube Simplilearn

• 2.1 Million Snaps are shared on Snapshot
• 3.8 Million Search Queries are made on Google
• 1 Million logged on Facebook
• 4.5 Million Videos Watched on YouTube

Concept of 4 V's

1. Volume
2. Velocity
3. Variety
4. Veracity

Volume: The volume of data helps to identify whether or not the data is Big Data.
Velocity: Velocity is nothing but how fast the Data is retrieved or stored.
Variety: Variety is nothing but Various types of data such as

• Structured Data: Any form of data that is in a fixed format is known as Structured data. Example: Excel Sheets 

• Unstructured Data: Any data that is without any structure or unknown form is known as Unstructured data.
  Example: Google search results page

• Semi-Structured Data: This data can contain both structured and unstructured forms of data. Example: XML File

Veracity: Accuracy and trustworthiness of the data are known as veracity.

How Big Data helps in Digital Marketing Strategies 

Source: gecdesigns.com

• Create Personalized Marketing Plans
• Increase sales by reaching the target audience with the data available
• Improve the performance quality of the campaigns
• Optimize the Budget
• Measure the Results
• Understanding the competition 

Top 5 Big Data Analytics Tools

Source: Apacbusinessheadlines.com

• Hadoop
• CDH
• Cassandra
• MongoDB
• Storm

References:

1. Warner, J. (2019) Why Marketers Should be Focused on Big Data, business.com. business.com. Available at: https://www.business.com/articles/big-data-marketing/ (Accessed: January 20, 2020).
2. Elichai, A. (2018) How Big Data Can Help in Disaster Response, Scientific American Blog Network. Scientific American. Available at: https://blogs.scientificamerican.com/observations/how-big-data-can-help-in-disaster-response/ (Accessed: January 20, 2020).
3. Simplilearn. (2019) Big Data In 5 Minutes | What Is Big Data?| Introduction To Big Data |Big Data Explained |Simplilearn. [Online Video]. Available at: https://www.youtube.com/watch?v=bAyrObl7TYE (Accessed: January 20, 2020).
4. Big data Tools: What suits best for your company? (no date) The Technology Headlines. Available at: https://www.apacbusinessheadlines.com/Big-data-Tools/ (Accessed: January 20, 2020).
5. Gec (2019) Role of Big data in digital marketing - The Future, GEC Designs. GEC Designs. Available at: https://gecdesigns.com/blog/role-of-big-data-in-digital-marketing (Accessed: January 20, 2020).