What Is Big Data? Types, Structure & Why It Matters! 🚀 | upGrad KnowledgeHut

Summary

This video introduces the concept of Big Data, explaining its definition, importance, and real-world applications. It highlights how Big Data is created, categorized, and utilized across various industries like entertainment and finance. The video also explores the three main types of Big Data—structured, unstructured, and semi-structured—and how each type is used in different contexts. Finally, it emphasizes the value of Big Data analysis in driving business growth and reducing costs, encouraging businesses to take advantage of this powerful tool.

Takeaways

• 😀 Data refers to quantities, characters, or symbols that can be stored and processed digitally, including text, numbers, images, and media files.
• 😀 The term 'data' is plural, with the singular being 'datum'.
• 😀 Big Data refers to vast amounts of data that are too large to be processed by traditional tools, representing a challenge in analysis.
• 😀 Facebook uploads over 500 terabytes of data every single day, highlighting the scale of Big Data.
• 😀 Big Data provides valuable benefits by helping businesses understand user behavior and make data-driven decisions.
• 😀 Netflix uses Big Data to recommend movies and TV shows based on user behavior, leading to higher customer satisfaction and retention.
• 😀 Credit card companies use Big Data to detect fraud by analyzing real-time usage patterns across locations.
• 😀 Big Data has applications in various fields, including banking, healthcare, transportation, retail, and more.
• 😀 Big Data is classified into three types: Structured Data, Unstructured Data, and Semi-Structured Data.
• 😀 Structured Data is organized and stored in databases, with sources like machines and humans contributing to it, making up about 20% of existing data.
• 😀 Unstructured Data, making up 80% of data, lacks a clear format and includes sources like social media, images, and text messages, often requiring manual analysis.

Q & A

What is Big Data?

Big Data refers to massive amounts of data that are too large and complex to be processed or analyzed by traditional tools. It grows exponentially and includes a wide variety of digital information.

How is data generally defined?

Data is defined as quantities, characters, or symbols on which operations are performed by a computer, and it may be stored and transmitted in electrical signals or recorded on various media.

What are the examples of data stored in our digital devices?

Examples of data include text, numbers, images, audios, and videos stored in phones, computers, and other digital devices.

What are the benefits of Big Data despite its complexity?

Big Data provides significant benefits such as improved customer personalization (like Netflix recommendations) and enhanced fraud detection (such as credit card fraud prevention).

What is the difference between 'data' and 'datum'?

Data is the plural term, while 'datum' is the singular form referring to a single piece of information.

How does Netflix utilize Big Data?

Netflix collects user behavior data from millions of customers to understand viewing preferences. This data helps in recommending movies and TV shows that align with individual tastes, improving customer satisfaction and retention.

What is structured data?

Structured data is organized in a specific format, typically stored in databases with rows and columns. It includes machine-generated data like sensor data and human-generated data such as personal details.

How does Big Data help credit card companies detect fraud?

Credit card companies monitor real-time data to spot unusual behavior. For example, if a card is used in two distant locations within a short time, the system flags this as potential fraud due to the improbability of such rapid movement.

What is unstructured data?

Unstructured data lacks a clear, organized format and includes items like social media posts, images, videos, and text messages. It makes up around 80% of all data.

What is semi-structured data?

Semi-structured data is a hybrid between structured and unstructured data. While it does not follow a traditional database format, it contains elements that provide organization, such as keywords in NoSQL documents.

Why is Big Data important for businesses?

Big Data allows businesses to gain insights into customer behavior, improve decision-making, reduce costs, and drive growth by analyzing vast amounts of information to make informed business decisions.