Applications of Big Data

The term Big Data has been coined to refer to the bulk of data that cannot be dealt with by traditional data-handling techniques. The concept of Big Data is still in infancy and is a novel concept. A small data becomes BIG Data when it is collected from the different resources like social media, business system, financial system, governance, banking, insurance, health care etc. In the earlier times, few companies were generating data, all others were consuming data but as per the new model, all of us are generating data, and all of us are consuming data. Now the challenge is to manage, store and process it and to use it for the decision making process. The aim of this paper is to explore the methodology in which BIG Data is can be used to provide meaningful information from the hidden patterns and hence to use it for making better fast and effective decisions to compete well in this competitive global environment. The paper throws light on various applications of Big Data in all diverse aspects of economy population health, for the betterment of finance, telecom industry, food industry and for fraud detection and sentiment analysis have been delineated.