UNIT TWO PART TWO THE EMERGING TECHNOLOGY
- 2. OVERVIEW OF EMERGING TECHNOLOGIES Emerging Technology is a term that is commonly used to describe a new technology, but it can also refer to the evolution of existing technology. It is widely used to describe technologies that are in development. This unit addresses some additional selected emerging technologies including Big data, cloud computing, fog computing, and internet of things (IoT).
- 3. 2.1. Introduction to Big data Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.
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- 6. 2.1.1 Characteristics of Big data Big data is characterized by 5V, namely Volume, Variety, Velocity, Veracity, and Value .
- 7. The most common characteristics of Big data are:- 1. Variety: Variety of Big data refers to the nature of data i.e whether it is structured, unstructured, and semi-structured data. Today, data comes in an array of forms such as emails, PDFs, photos, videos, audio, social media posts, and others.
- 8. 2. Velocity: Velocity refers to the speed at which data is being created in real-time. 3. Volume: Volume indicates huge ‘volumes’ of data that are being generated daily from various sources, like social media platforms, business processes , machines, networks, human interactions, and others.
- 9. 4. Value: It is the amount of valuable, reliable, and trustworthy data that needs to be stored, processed, and analyzed to find insights. 5. Veracity :Veracity means the degree of reliability that the data has to offer.
- 10. • Volume: large amounts of data Zeta bytes/Massive datasets • Velocity: Data is live streaming or in motion • Variety: data comes in many different forms from diverse sources • Veracity: can we trust the data? How accurate is it? etc.
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- 13. 2.1.2 Benefits of Big data Bigdata projects help us to cure disease and prevent cancer, maximize crop yields, explore distant planets, predict and respond to natural and man-made disasters, prevent crimes, and more.
- 14. Benefits /Advantages Bigdata Customer acquisition and retention: Targeted advertisements (Ads): •Product development: •Price optimization: •Risk management •Improved decision-making:
- 15. 2.1.3 Application of Bigdata Below are some examples of sectors in which Bigdata can contribute by generating value: Healthcare Education Banking
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- 19. Agriculture - Smart farming and precision agriculture practices help farmers to save costs and open new business opportunities.
- 20. Manufacturing - In the manufacturing sector, Bigdata helps create a transparent infrastructure, predicting uncertainties and incompetence that can affect the business adversely.
- 21. Retail - Bigdata has changed the way traditional retail industry.
- 22. Transportation - The transportation business can also benefit greatly from Bigdata analytics. Both companies and government-run transportation corporations employ Bigdata technologies to optimize route planning, control traffic, manage road congestion, and improve services in countries all over the world.
- 24. 2.1.4 Challenges of Bigdata Aside from the benefits, Bigdata also has challenges related to data quality, storage, a shortage of data science experts, validating data, and gathering data from various sources.
- 25. Some of the current major Bigdata challenges/disadvantage of bigdata Managing Bigdata Growth Lack of data professionals Securing Data Integrating data from a variety of sources
- 26. 1 26 THANK YOU