Current technology is data-driven, allowing for massive global information exchange. After a 40-month period, the number of stored data doubles. This is largely attributed to the big amounts of data which are produced and stored on a daily basis. Any interaction on the digital platform, be it on phones, computers or even transactions involving credit cards, generates data which is stored and can be analyzed anytime should the need arise. As a consequence, every business currently finds itself managing huge amounts of data. This has been made possible by current technology, which allows both small and large organizations to access big data. Organizations will, however, need an experienced data systems engineer to help them bring the stored data to good use. The greatest concern for big data is privacy. This is because of the increased permanent storage capacity of systems worldwide and also the non-monitored nature of the distribution of personal data.
The question is why and who
As mentioned above, the amount of amassed personal data has been growing because technology has been developed that enables you to track, record and even mine anybody’s data. In the near future, the challenge will not be the availability of technical skills but rather why and when a task can be done. An old saying goes that anything vast that enters life comes with a curse. With big data, we need to be aware of both the disadvantages and benefits that it brings. We ought to know the people in charge of this data, the data control hub to which it is sent and the companies or government bodies who monitor the internet.
The oil industry and data spills
If the current data technology boom continues, it is believed that the data industry will be rivaling the success of the oil industry within the next two years. As such, there is a concern that effective global policies and regulatory frameworks should be put in place globally to prevent future incidents like data spillage. Laws should be created to help deal with the greater power big data is giving us. Unfortunately, currently, the greatest number of big data users are children. It is now almost impossible to trust large, particularly oil companies, as the huge personal data that they are handling can be used in inappropriate ways because, just like any business, the aim to maximize profits.
The big benefits
Big data has been a great tool that has been largely used by advertisers to deliver messages to their intended audience. The main challenge encountered is analyzing and visualizing the information effectively without any ethical issues. Examining big data has been beneficial as it creates a customized value-add to the online experience. The trend is increasingly being adopted by Google, as it aims to create algorithms that are based on the data collected and personal online histories. Evaluating big data has been of great benefit to business organizations, mainly because it improves their efficiency and can help develop the services which most benefit customers. Big data has a huge potential for anybody . If used correctly, it can be of great benefit.