Big data - Is it an opportunity or challenge?

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Objective: Big Data has gained huge popularity over the last few years among IT professionals and college professors etc. The term "big data" often refers simply to the use of predictive analytics, user behaviour analytics, or certain other advanced data analytics methods that extract value from data, and seldom to a particular size of data set. Analysis of data sets can find new correlations to "spot business trends, prevent diseases, combat crime and so on. The objective of this study is to explore the opportunities of using Big data and creating new opportunities for growing businesses in different sectors. Decisions that previously were based on Guess work, or on painstakingly constructed models of reality, can now be made based on the data itself. The finding of the Big Data helps in making decisions for the organization(IT, Healthcare, Banking , Retail, Pharmaceuticals sectors, etc.) for their betterment. Methodology: The research was conducted using secondary data. Qualitative data was collected from various e-commerce websites like Amazon, Flipkart, Snapdeal where review of various customers about the Samsung smartphone are collected. As all customers were free to write any review, data was open ended and unstructured. Limitations: The research is based on reviews of customers on e-commerce websites. It does not cater to customers who purchase Samsung smartphones from physical stores. As the data is huge, it becomes difficult to capture, store and visualise each data point.

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