How Can Blockchain Transform Big Data Industry?
Big data is a term we have all heard from someone. It could be in a tech-related video, or it could be in your office meeting it’s a buzz of 2019.
Every technology enthusiast is talking about discussing how it affects and changes it can bring. So how could we leave behind the trend, Right?
But we have given Big-data our twist, and we came up with a topic which not only attracts data scientists but also gives Blockchain developers something to think of.
In this article, we will discuss how Blockchain can be beneficial for transforming Big Data Industry in the near future. So buckle up as this session is going to evoke all those geeky neurons in your brain.
Big Data, and its uses?
Before we start, we need to clear some things here like what is Big Data.
See in layman terms big data is nothing but a field which deals in different ways to analyze data in a systematic form to extract information from the data sets which are too large or have high complexity.
These data sets are so big that traditional data-processing software can’t obtain the required information from it in an effective way.
A Big data comes with a lot of problems like data storage, data analysis, sharing, transferring and visualization of the data. As the data gets bigger, the complexity becomes higher, and so does the false discovery rate.
A lot of big companies use cloud storage to save their everyday sales data and other information.
To analyze the sales of a multinational company which has its sales office spreading all across the globe is a tough task in its terms.
You need to sync all the data in one format, and then you need to store in one place from where you can easily take it out and analyze it this is where the Blockchain comes to provide aid to the prominent data scientist.
Blockchain is an efficient way for online data storage. Furthermore, the implementation of a decentralized network can help to ease of access to data without facing any data manipulation issue.
Every Single transnational party can store their information in the hash graph of Blockchain, and the stakeholder of the Blockchain has the access of all the block of hash graph making it easier to store the data and analyze it.
You can add a transaction in the Blockchain, and other parties can validate it in real time make the whole process fast and straightforward. Because of how Blockchain works, one can see the transaction history, besides, to find out the origin of the transaction.
Now let’s discuss the use of big data in real-life scenarios
Big data can help in providing a dynamic learning experience.
Every new education industry is getting filled a considerable number of students and with each student comes their data to maintain and analyze.
Colleges tend to evaluate students performance individually. The proper evaluation of a student can help both teacher and student to decide the courses and places of improvement.
After that, customized programs can be implemented depending on the result of an evaluation, which was collected on the bases students learning pattern.
By the proper analysis of student data, one can predict the career option in which he/she will excel as both her passion and brain resides in that career.
At this moment, the state university of Alabama is providing its expertise in various educational fields and has more than 38,000 students.
With the help of big data now they are analytics and data visualization to find out the pattern in the students learning and helping each individual to learn in the best way possible.
Big Data can help in providing evidence-based medicine in the Healthcare Industry
Healthcare is another industry which is doomed to produce tons of data. With the help of Big-data analysis from previous patients, many scientists and doctors were able to pin down the exact treatment that needs to be performed on the patient to make him recover.
Also, it helps in determining the outbreaks of the epidemics and what prevention steps need to be followed to minimize its effect on the patients.
Now doctors can give their patients evidence-based medicine after taking the results from the data research of previous patients who were diagnosed with the same disease.
As if for now many smartwatch companies use big data to extract and analyze the wearer’s heart rate, blood pressure etc. and provide the necessary details of how they can lower their blood pressure or how many steps they need to lower their cholesterol.
Use of Big Data in Government sector
In the past and even in 2019 governments of big countries like India had to face a massive amount of data daily whether it be data collection for the new voters for voting or issuing government ID to people every data that government has counted in big data.
If the government could track the growth, energy, and resources they have they can calculate the estimates and how much one state requires making it easier for the government to distribute funds in a shorter time and in a much efficient way.
The government can use big data analysis to identify the states that need immediate attention in terms of resources such as food production, water etc.
On the other hand, the state government can have a tract of land and livestock and can ask for more to the neighbouring states if required.
The Food and Drug Administration of the USA takes the benefits of the analysis done on big data to find the patterns to discover how the expected and the unexpected food-based infection takes place. These are some of the uses of Big-data in real life. Now we’ll talk about how Blockchain can solve various problems a prominent data scientists face in his day to day work.
How can Blockchain help Big Data Industry
Data Retention
Just by the name of it, we can see Big data is the collection of massive data, and large-scale data requires a lot of storage space. Here Blockchain can provide it’s assistance to Blockchain by providing massive data storage without having to store all the data at one place physically.
Blockchain is an efficient way to store massive data on a cloud-based system. Furthermore, the decentralized implementation of Blockchain provides access to data to many individuals without breaking the credibility of the data.
Moreover, to change a single block of data, the hacker needs to change the data of every single block present in the chain as each block contains the hash of the previous block. As a result of this process is is quite tiring and takes a lot of time, thus making the data manipulation proof.
Blockchain can work with big data all thanks to bitcoin and Ethereum, which allows Blockchain to support digitized information. Big-data scientist uses Blockchain to make sure their data remains safe, and there will be compromises of any sort related to the quality of the data.
For example, by placing their database in blockchain hospitals or healthcare services ensures that every employee has access to the same information which can’t be manipulated.
Data loss
Filing your safety deposit or putting your most essential documents in a safe is an old-school thing now as you entered the digital world your data is stored remotely in a cloud or on a server you don’t know, but you can be sure of one thing that it’s not 100% safe.
In the past 2–3 years, we have seen so many data breaches of big companies like Google, Facebook, and Facebook. Many people have left the social media site Facebook after hearing the data breach so many times in a year.
Even a multi-billion dollar company like Facebook was not able to secure their data, and big data is one of its victims. But if we implement Blockchain on big-data, the data won’t be lost, and it will not be altered.
The blockchains decentralized structure protects the data from common assaults such as DDoS attack which was one of the main reasons of the data leaks.
We are not saying Blockchain is immune to hack and McKinsey what we are saying is to attack a blockchain one requires a lot of time and patience as we have already discussed before how each block contains information of the previous block.
Also, to extract the data from the private blockchain one needs to have the authorization of more than two to three involving parties meaning if you want to change something in the data you first need to provide the information of the new data to all the stakeholders.
As a result, even if one or two stakeholders get corrupted, you can’t hack all of them. In this way, Blockchain solves the data loss problem of big-data.
Data clog
Data clog can occur even to small data, but in the case of big data, it just gets worse.
Both the centralized and decentralized data systems have their limitations in terms of capacity and data transfer rates. But Blockchain was developed to facilitate data transactions.
The Blockchain was first designed to provide accountability for the millions of dollars of money transaction for online businesses. If the 0transactions were slow and got cancelled most of the time, we won’t be using bitcoin right now.
In conclusion
So there you have your answer to the question. Both Blockchain and Big Data Industry work hand in hand, and this future technology complements each other.
In recent years Blockchain has become the heart of the internet, and big data was already there so to solve one’s issue we can easily ask for help from the other one.
Originally published at https://rejolut.com
