|Type of paper:||Argumentative essay|
|Categories:||Marketing Social networks Customer service|
Big data is essential in the marketing sector of a company. It give4s marketers and managers a platform to analyses the areas for market segmentation. The data is necessary for establishing available markets and segmenting them according to the needs of each segment. Segmentation may occur in various ways such as age, tastes, and preferences, Geographical position, population, the income of consumers among other factors. They are using big data as the base for market segmentation aids in achieving possible recommendations for the firm on how it can deal with advertisements and market their products in the best way to improve their sales volume and profitability.
Big data can be used by firms in improving their ability to meet the needs of their clients. It is ultimately essential for any firm to focus on the needs of consumers before anything else. Big data enhances customer churn analysis, sentiment analysis, clickstream analysis and optimization of plans. In this case, the corporation can retain its customers and build a customer- loyalty framework that attends to the needs of the consumers appropriately. Creation of a communication channel that responds to inquiries from clients can also be a benefit of high data usage. Event the firm can build a brand that sales out more hence attracting new market segments. Big data is, therefore, a vital determinant of the growth of a firm.
Big Data and Network Performance
The use of big data can be associated with the improvement of a company's network performance in various ways. Firstly, big data has proved to be essential in the optimization of network performance through optimal call routing and real-time CDR analysis. Secondly, capacity optimization through forecasting on aggregate demand can be achieved through the use of big data. Thirdly, big data aids in the detection of failure through anomaly detection. Failure detection is essential in preventing malfunctioning of the network systems that could affect the operations of any firm. Lastly, big data can be an aid in the performance of the network systems through the Taylor services and new features, proactive care, optimized plans and GIS location for data monetization.
Negative Impacts of Big Data on Privacy
Big data can attract negative impacts on the firm or individuals if mishandled. There are six ways in which big data has proven to impact negatively on the users.
Firstly, big data has been associated with the misuse of personal information. For instance, some companies have used the personal association of a person to prove the creditworthiness of an individual. They would assess the places that a person shops and the ratings of the companies. In that case, if a place that the individual shops have recorded a poor payment history from other clie4nts, the creditability of that individual reduces.
Secondly, big data is a target of vulnerable cases in society. Vulnerability records of people are obtained from the sites they visit or whatever cases they share. In what is called algorithmic profiling, data brokers obtain such information as the list of victims of venereal diseases, victims of drought and poverty as well as victims of political war displacements. They then sell out the information to research companies at alarming profits. In this case, big data is used illegally.
Thirdly, big data has affected the back Americans negatively as they continue facing discrimination in various social areas such as school and workplaces. While many corporates and the government uses big data, the systems have been set to regulate users such that only authorized users are eligible. In that case, data gets corrupted, and some criminals are favored against others. In some cases, it has happened that black people tend to pay more on insurance as compared to the whites even though they are both exposed to similar risks. What is even worse is that the technology of big data has developed facial recognition systems which have failed terribly by being incapable of detecting faces of black people. In that case, blacks are denied access to some facilities where recognition systems are used as a security measure.
Fourthly, cases of breach of data have been reported. A breach occurs when data collected about a person is supposed to remain confidential between the researcher and the individual, but then the latter decides to expose it for personal reasons. Cases of exposure of people's fingerprints have been reported as such information is used against them in the court of law whenever they cross the line of law. In as much as such acts have been dismissed, they are still done by some mean researchers or data handlers, and they have caused distress, damage of reputation and blackmail top the victims.
Fifthly, big data can cause political manipulation and mess with the social well-being of citizens. Whenever researchers produce false or misleading information that is publicized, it damages the democracy and political progress of a country. It also affects the social life of citizens who get tricked into giving an opinion over unauthentic news that lands them in trouble for defamation.
Lastly, big data can never be 100% correct and is therefore subject to mistakes. Whenever system errors occur, and some individuals are identified wrongly, the effect of these is that the wrongly identified individual may have their reputation damage. That may affect their job opportunities and career life as a whole, and some may serve sentences they don't deserve.
The Relationship Between Big Data and Blockchain
Big data is the combination of many data sets into one large data group that enables easy access to information by various individuals who need it. On the other hand, blockchain which has come to the limelight recently after the emergence of Bitcoin cryptocurrency involves the connection o various blocks of data with relation. Blockchain technology groups data into blocks according to the user information and the timing. The blocks are secured to ensure that no individual tampers with the information. They also have timers that are secured as well and record any changes made to the block of data.
Many institutions today are using big data for the effective functioning of their activities. However, the storage of this large data sets has been costly since most organization use cloud web for storage. Notably, to cut these alarming costs, blockchain technology can be used as a storage form for big data sets in the place of cloud storage. Blockchain technology is less costly; grants access to many users; it operates on ledger data, can be easily validated a makes it easy for users to trace the actual transactions. Moreover, with the innovation of Smart Contracts within the blockchain technology, most transactions can be done automatically.
Benefits of Big Data and Blockchain to Governments
There have been reported cases of breach of data where personal information availed to government institutions like hospitals, schools, and law enforcement centers have been lost to smart hackers. However, the security of this information can be restored if all government departments decide to incorporate blockchain technology into their big data applications. By so doing every transaction or activity of a country is safe and can only be accessed by authorized users with several signatures to follow. Blockchain and big data can save the security of the country from health care for its people to the attacks from enemies. Security threats of a country include attacks from the terrorist groups as well as exposure to business operations and state of security of a nation.
Benefits of Big Data and Blockchain to the Citizens
The use of blockchain technology in big data can be used by citizens in two dominant ways and the first, citizens can safely store their property deeds in safe companies that use the technology. Secondly, people can have the freedom and safety to store whatever amounts of money they have in banks that use blockchain technology. A good example is that of 50 Japan banks who joined hands and approached Ripple a blockchain integrated company to incorporate the technology into their institutions. The movement stimulated more clientele into the firms.
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Why Telecom Companies Need Big Data - Argumentative Essay Sample. (2022, Dec 30). Retrieved from https://speedypaper.com/essays/why-telecom-companies-need-big-data-argumentative-essay-sample
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