Big Data will be used in different ways depending on the company that collects the data. Among these uses are:
- Track location: with Big Data, it will be possible for logistic companies to track the progress of their deliveries and be able to act in real time in case anything goes wrong. The companies will also be able to know the risks involved in the transportation and with this information, they will come up with means to make their services better.
- Detect and handle fraud: financial organization will be able to use the Big Data to detect an oncoming fraud and come up with ways to prevent it. Big Data will also be used to monitor the financial market so that they can detect and stop any illegal trade before it happens.
- Advertisement: large companies are taking advantage of the Big Data to know the behavior of different individuals and once this information is at their disposal, they are using it as a marketing tool to convince people to buy their product. Social media platforms such as Facebook and Twitter are being used by various manufacturers to achieve their marketing goals.
- Entertainment channels such as YouTube and Netflix have also made use of the Big Data to know the preferences of different people when it comes to entertainment. They will use this data to make suggestions on what to watch next. This is in an effort to increase the subscriptions to their various entertainment gigs.
Despite the positive impact that Big Data has, there are instances when it has been misused. There are some financial institutions that will use this information to limit the credit cards of their customers based on where the frequently use the cards which is really unfair. There are also situations where the private information has been leaked which have put their lives at risk. With such incidences, it is good to note that Big Data has been used to bring a positive change and also to cause harm and discrimination to others.