Big Data – Concepts, Applications, Challenges and Future Scope

Abstract

The term, Big Data‘ has been coined to refer to the gargantuan bulk of data that
cannot be dealt with by traditional data-handling techniques. Big Data is still a novel concept,
and in the following literature we intend to elaborate it in a palpable fashion. It commences with
the concept of the subject in itself along with its properties and the two general approaches of
dealing with it. The comprehensive study further goes on to elucidate the applications of Big
Data in all diverse aspects of economy and being. The utilization of Big Data Analytics after
integrating it with digital capabilities to secure business growth and its visualization to make it
comprehensible to the technically apprenticed business analyzers has been discussed in depth.
Aside this, the incorporation of Big Data in order to improve population health, for the
betterment of finance, telecom industry, food industry and for fraud detection and sentiment
analysis have been delineated. The challenges that are hindering the growth of Big Data
Analytics are accounted for in depth in the paper. This topic has been segregated into two arenasone
being the practical challenges faces whilst the other being the theoretical challenges. The
hurdles of securing the data and democratizing it have been elaborated amongst several others
such as inability in finding sound data professionals in required amounts and software that
possess ability to process data at a high velocity. Through the article, the authors intend to
decipher the notions in an intelligible manner embodying in text several use-cases and
illustrations