Big Data’s Potential: Opportunities and Challenges
The use of Big Data in medicine, customer service management, and decision-making based on data is a sign that big data is now a common part of modern society. Companies and organizations can harness large amounts of data, as well as use sophisticated algorithms to discover relationships. This opens up a variety of opportunities for efficiency improvements, cost reductions, and improved customer experience (Hilberet al. 2015). There are many benefits to big data, but there can also be challenges. It is necessary to have high computing power, specialist expertise and large investments in IT (information technology) because of the speed and volume required. Also, large data management could raise ethical or privacy concerns. Companies must ensure their data usage is safe and compliant with the law (Wang et. al., 2002). The double-edged sword of big data is that it has the potential to bring about major breakthroughs, but can also pose a challenge. Organizations can unlock the potential benefits of big data if they manage it well. References Hilberet al., 2015. “Big Data Challenges & Opportunities in Data Management” Communications of the ACM vol. 58(7), pp. 27-29. Wang et al., 2021. “The New Advancements and Challenges of Big Data: An Overview and Future Research Directions.” Journal of Web Engineering. Vol. 20(1), pp. 1-21.Cont…
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