Personally, I don’t think we have to be concerned …show more content…
I picked out a few pros and cons that I think are critical to the growth and drawback of Big Data expansion.
Benefits of "Big Data”
From business owners to world leaders, the last decade or so has seen Big Data hailed as a potential solution to a ver broad and differing range of problems, from government deficit to corruption to third world poverty and hunger. However, stepping back and looking at the bigger picture, we have to ask ourselves what we actually know about Big Data. Given the current hype about it, the existing literature on Big Data is surprisingly quite large, providing analytics across hundreds of industries and sectors.
Research, Development, and Innovation
One of the most exciting benefits of Big Data is it’s potential to be used in the research and development of new services and products. Big Data can help organisations and businesses to gain an understanding of how others grasp their products or analyse consumer product demand and adapt their marketing to create a solution. An analysis of social media data fore example, can give valuable insights into customers feelings towards previously existing products whilst also discover a gap in the market for new products, and an increasing demand for products that don 't exist …show more content…
Advances in data analytics and the sheer quantity of the data readily available give citizens the knowledge and facts to hold businesses and governments to account , as well as make more informed choices about the products and services they use and pay for. Nevertheless, data - no matter how much - does not always mean knowledge, or power. For citizens to hold businesses, politicians and governments accountable, they must first break down and make sense of said data, which can be a tricky task to do.
Harms of "Big Data”
Privacy & Security
Everyone knows that the biggest concern raised in relation to Big Data is the risk to privacy . Because of the nature of Big Data and how it requires comprehensive access to be used properly, it is no surprise that the benefits I’ve mentioned above, come with its drawbacks.
Generally speaking, many Big Data researchers have used de-identification as a way of defending the mass collection, storage and use of personal citizen data. In declaring that such measures are taken to ensure the privacy of citizens; both private & public companies and governments have desired to play down citizens concerns about their privacy and the implications it has in connection with Big