Question

Prepare 750-1200 words research paper on the Impact of Big Data on Businesses

Share all the references.

Without plagiarism

Answer 1

Big Data:

Big data refers to the large amount of the data that is unstructured, semi-structured and structured data which is obtained from various sources.

There are various sources like social networks, mobile applications, transactions, medical records etc..

Many companies today are focusing on organizing these data so that it can be used.

There are various applications that use the big data in their daily activities.

It has large impact on wide range on various applications.

Impact of big data:

With the use of big data the enterprises has various advantages with it.

Big data provides various services which can increase the productivity enhanced customer experience is a primary goal that most of the Enterprises mostly concentrate at.

Big data helps the companies in storing huge amount of data in a economical way Technologies include Hadoop and various cloud-based Technologies.

In this way the big data is used by Enterprises which has various benefits to their businesses therefore various Agencies have policies for promoting the development of big data.

With the advancement of Technologies the big data has a major prominent role.

How big data has impact in business across industries:

various Industries like a financial services retail telecommunication and manufacturing uses this data to a larger extent.

Various data solutions for better supply chain management are being adapted.

Banking, financial services and insurance (BFSI):

This sector mainly implements big data and Analytics to become most profitable and efficient.

Various Enterprises and Financial Institutions use big data to eliminate redundant systems and provide tools for efficient access of data.

The banking traders use big data for high frequency trading.

This also uses big data for monitoring the financial activity.

Retail:

The retail industry has large amount of data that is obtained through POS scanners, loyalty programs etc...

As it deals with large number of people and transactions, with the usage of big data, it is possible to detect frauds and helps us in the analysis of amount of inventory and the stock.

Manufacturing:

As it is known, large amount of data is generated daily on a large scale.

The usage of big data helps the organizations in saving the costs and increase productivity.

Logistics, Media and Entertainment:

In Logistics, Media and Entertainment, the big data has various applications.

This is used to analyse the behavioural data to create customer profiles.

This can be used to recommendations in future and increase profits.

Oil and Gas:

Here, the big data helps thee enterprises in decision making.

Based on the data, the availability of the gas at any location is analysed and wells are digged.

In this way various companies have started understanding the wide uses of the big data ans so started using them.

Further the big data market is expected to forsee the remarkable growth in upcoming years.

The main purpose of using the big data in various applications is due to the rapid increase in the structured and unstructured data.