Prediction and Big data

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Called the black gold of the digital world, Big Data offers new perspectives to companies that treat them.

Definition and example of uses

Daily use of the internet, telecommunication services, credit cards, online shopping services and geolocation services generate large amounts of data also called Big Data. These digital mega data are unique by the quantity, diversity, processing speed and value-add they are likely to bring if they are analyzed thanks to artificial intelligence for example.

Big Data are captured and recorded thanks to high speed processing systems to enable their future use and analysis. However, these data are so large that they exceed human analysis capabilities and must be stored on external storage systems. They must also be properly secured. Indeed, because they retrieve a user’s data, big data present risks ranging from loss of anonymity to discrimination or marketing by a third party.

Opportunities for Swiss companies

Since the emergence of Big Data in the late 2010s, companies are working towards integrating this new tool in their business models. For example, these mega data can give an indication of a customer’s actual use and satisfaction but also of what they are likely to buy by analyzing their consumption preferences.

Indeed, thanks to these analytical tools and to data modelling, companies can carry out trend or predictive analysis, profile, anticipate risks and monitor phenomena in real time. In the industry, Big Data can, for example, anticipate the breakage of a machine or its need for maintenance. Developed iteratively (either with repeated systematic processes), they provide another form of value creation for companies. 

For more

"Big Data and Machine Learning – Concepts and Tools of Data Science", Pirmin Lemberger, Marc Batty, Médéric Morel, Jean-Luc Raffaëlli (2019), Dunod Edition.

"The Big Data", Pierre Delort (2018), Editions "Que Sais-je", Presse Universitaires Françaises.

"BIG DATA", Brian Clegg (2017), Icon Books.

 

Informations

Last modification 26.03.2020

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