Big Data Is Shifting Business in Some Unusual Ways

13 Apr

Big information has opened up a completely new world of opportunities.

How is large data changing the company landscape? Originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from other people and better understand the planet.

Answer by Kris Lahiri, Co-founder, Chief Security Officer, Egnyte, on Quora:

Substantial statistics and its consequences are influencing each business from one-person companies to Fortune 500 enterprises. As information collection, analytics and the interpretation of that information become more easily accessible, they will have an effect on every company in a number of critical ways, whatever area you operate in or the size of your business.

Nowadays, even the smallest businesses produce data. Whether you've got a website, an existence on interpersonal media, or you accept credit card payments, you've got data which you may collect from the clients, their consumer experience, and more. And you've got the ability to examine this information to enhance your client's experience and thus improve your business.

Substantial data enables businesses to collect more and better advertising info about you, giving companies a better idea about what you would like, what you may use, and what stations you normally use to buy. This may sound a little scary to some, but on the opposite side, business needs to proactively create and preserve privacy policies and also the systems/security required to secure your data.

While firms are continuously seeking new opportunities to gain from data collection, data security in the EU is getting more strict. The General Data Protection Regulation (GDPR) imposes new demands on personal data and permits stronger rights to people. GDPR presents many new challenges which should be taken into account. A number of the trickiest ones for companies collecting and processing personal data incorporate the extra requirement of information subject consent, along with the capacity to limit the processing of personal data from taking place altogether.

Generally speaking, I believe that big data will be used primarily to improve the consumer experience. But it is also utilized to track employee ecological conditions while still working. For examples, sensors, barometers, cameras, and microphones can be used to identify if working conditions are outside the norm. They can also be employed to detect locations and even bearings and body motions of individuals to feel a fall, track a person's location or estimate the physical load onto a body.

Substantial info has opened a completely new universe of possibilities and proceeds to change how we do business, indoors and out.

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