BIG DATA Essay Example | Topics and Well Written Essays - 250 words

BIG DATA - Essay Example IBM on the other hand has invested 24 billion dollars in data analytics and through a company called Watson has employed about 15000 analytical practitioners to handle data collection and analysis. This data is used to analyze the market and improve their business. Another example on the use of data analytics in business is the BMW motor company whereby a survey conducted showed that people who were getting into cars were always having their windows broken in winter as a result of ice accumulation. In order to improve the customer confidence in their product, the company took it upon itself to wash the parked cars and give them back to the customers whenever they wanted to leave. In this way, the customer confidence in BMW improved. Facebook uses data analytics to conduct surveys and improve their business and the quality of service they offer to their customers. Recently, Facebook conducted a survey asking the question of which gender between males and females spends more time shari ng photographs on Facebook and the data collected showed that women spend more time sharing photographs than men. About 350 million photographs were shared daily on Facebook. For one to become a data scientist he must have data handling skills such as programming, databases creation and analysis, mathematical modeling, statistical analysis and above all he must be creative. If we analyze the trend on the use of big data by big companies, it is evident that companies are hesitant in investing in big data. About 55-60% of the investments in big data fail. This can be attributed to the fact that the companies start on technology first rather than understanding of the understanding of the fundamentals of the business. Today, there is a very high demand for data in business performance and market analysis and hence the need for companies to invest in big data. However, a major setback in handling big data is the shortage of data scientists to work in this field.